Mitsubishi UFJ Trust & Banking Corp Sells 6,863 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 105,108 shares of the company's stock after selling 6,863 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Principal Financial Group were worth $8,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC raised its position in shares of Principal Financial Group by 66.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company's stock worth $2,137,000 after buying an additional 9,933 shares in the last quarter. Legacy Financial Group LLC bought a new stake in Principal Financial Group during the fourth quarter worth approximately $771,000. Columbus Macro LLC lifted its position in Principal Financial Group by 46.7% in the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company's stock worth $1,986,000 after purchasing an additional 8,169 shares during the period. Lecap Asset Management Ltd. boosted its stake in Principal Financial Group by 135.6% during the 4th quarter. Lecap Asset Management Ltd. now owns 22,469 shares of the company's stock valued at $1,739,000 after purchasing an additional 12,933 shares in the last quarter. Finally, Quantbot Technologies LP increased its position in shares of Principal Financial Group by 2,064.3% during the 4th quarter. Quantbot Technologies LP now owns 148,299 shares of the company's stock valued at $11,480,000 after purchasing an additional 141,447 shares during the period. 75.08% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and decreased their target price for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 12th. Barclays raised their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, February 7th. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price objective on the stock. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Principal Financial Group has an average rating of "Hold" and an average price target of $85.92.

Principal Financial Group Stock Performance

PFG stock traded up $1.31 during midday trading on Monday, hitting $84.37. 1,160,284 shares of the company traded hands, compared to its average volume of 1,220,114. The business has a 50 day simple moving average of $84.15 and a 200-day simple moving average of $83.69. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.98. The stock has a market capitalization of $19.03 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were given a dividend of $0.75 per share. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.56%. Principal Financial Group's payout ratio is currently 44.91%.

About Principal Financial Group

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.