Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 353,846 shares of the company's stock after acquiring an additional 14,484 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.15% of Principal Financial Group worth $27,568,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Curio Wealth LLC acquired a new stake in Principal Financial Group during the fourth quarter worth about $29,000. BankPlus Trust Department acquired a new stake in shares of Principal Financial Group during the 4th quarter worth approximately $33,000. Sugarloaf Wealth Management LLC raised its position in shares of Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after buying an additional 195 shares during the period. Golden State Wealth Management LLC acquired a new position in Principal Financial Group in the fourth quarter valued at approximately $46,000. Finally, Whipplewood Advisors LLC purchased a new position in Principal Financial Group in the fourth quarter worth approximately $54,000. Hedge funds and other institutional investors own 75.08% of the company's stock.
Analysts Set New Price Targets
PFG has been the subject of a number of recent analyst reports. Morgan Stanley reissued an "underweight" rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Wells Fargo & Company boosted their price target on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an "underweight" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their price objective for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Piper Sandler lifted their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Finally, BMO Capital Markets assumed coverage on Principal Financial Group in a research note on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Principal Financial Group currently has a consensus rating of "Hold" and a consensus price target of $85.92.
View Our Latest Analysis on PFG
Principal Financial Group Stock Up 0.9 %
Shares of NYSE:PFG traded up $0.78 during trading hours on Tuesday, reaching $85.15. The stock had a trading volume of 1,108,214 shares, compared to its average volume of 1,220,702. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.98. The firm's 50 day moving average is $84.26 and its 200-day moving average is $83.75. The stock has a market capitalization of $19.21 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.
Principal Financial Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were paid a $0.75 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.52%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's payout ratio is currently 44.91%.
Principal Financial Group Company Profile
(
Free Report)
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.
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