Principal Financial Group Inc. Has $43.66 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Principal Financial Group Inc. raised its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 17.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 415,368 shares of the financial services provider's stock after purchasing an additional 62,917 shares during the period. Principal Financial Group Inc. owned about 0.14% of Iron Mountain worth $43,659,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of IRM. Geode Capital Management LLC increased its stake in shares of Iron Mountain by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider's stock valued at $978,479,000 after acquiring an additional 128,622 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Iron Mountain by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider's stock valued at $402,396,000 after buying an additional 141,675 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Iron Mountain by 537.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider's stock worth $376,756,000 after purchasing an additional 2,672,821 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Iron Mountain by 5.2% in the 3rd quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider's stock worth $113,073,000 after buying an additional 47,327 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Iron Mountain by 1.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 910,723 shares of the financial services provider's stock valued at $95,726,000 after purchasing an additional 10,160 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Down 1.9 %

Shares of Iron Mountain stock traded down $1.73 during trading on Friday, hitting $91.77. The stock had a trading volume of 2,392,295 shares, compared to its average volume of 2,128,673. Iron Mountain Incorporated has a 1 year low of $70.00 and a 1 year high of $130.24. The stock has a 50 day simple moving average of $103.91 and a 200 day simple moving average of $112.39. The company has a market capitalization of $26.96 billion, a PE ratio of 150.44, a P/E/G ratio of 5.11 and a beta of 1.01.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the business posted $0.52 EPS. As a group, equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.42%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain's dividend payout ratio is 514.75%.

Wall Street Analyst Weigh In

IRM has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday. Royal Bank of Canada increased their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Barclays dropped their target price on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Finally, BNP Paribas raised Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $127.67.

Insider Buying and Selling

In other news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This represents a 38.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,391 shares of company stock worth $16,805,912. Corporate insiders own 2.10% of the company's stock.

Iron Mountain Profile

Iron Mountain Incorporated NYSE: IRM is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.