Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 353,846 shares of the company's stock after purchasing an additional 14,484 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.15% of Principal Financial Group worth $27,568,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Curio Wealth LLC acquired a new stake in Principal Financial Group during the fourth quarter valued at $29,000. BankPlus Trust Department acquired a new stake in shares of Principal Financial Group during the 4th quarter valued at about $33,000. Sugarloaf Wealth Management LLC increased its stake in shares of Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after purchasing an additional 195 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Principal Financial Group in the 4th quarter worth about $46,000. Finally, Whipplewood Advisors LLC purchased a new position in Principal Financial Group during the fourth quarter worth approximately $54,000. 75.08% of the stock is owned by institutional investors and hedge funds.
Principal Financial Group Trading Down 8.0 %
PFG traded down $6.38 during mid-day trading on Friday, hitting $72.94. 2,217,014 shares of the stock were exchanged, compared to its average volume of 1,226,682. The firm's fifty day moving average is $84.12 and its two-hundred day moving average is $83.67. The company has a market cap of $16.45 billion, a PE ratio of 10.92, a PEG ratio of 0.76 and a beta of 1.01. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.98.
Principal Financial Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.11%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's payout ratio is presently 44.91%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. UBS Group boosted their price objective on Principal Financial Group from $87.00 to $93.00 and gave the company a "neutral" rating in a research report on Wednesday. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price target for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and dropped their target price for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company lifted their price objective on Principal Financial Group from $69.00 to $74.00 and gave the stock an "underweight" rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $86.57.
Check Out Our Latest Stock Analysis on Principal Financial Group
About Principal Financial Group
(
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.
Further Reading
Before you consider Principal Financial Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Principal Financial Group wasn't on the list.
While Principal Financial Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are hedge funds and endowments buying in today's market? Enter your email address and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying now.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
