Mufg Securities Americas Inc. Invests $241,000 in Principal Financial Group, Inc. (NYSE:PFG)

Mufg Securities Americas Inc. purchased a new position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,107 shares of the company's stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PFG. Geode Capital Management LLC boosted its position in Principal Financial Group by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock worth $422,074,000 after purchasing an additional 52,410 shares during the last quarter. Northern Trust Corp lifted its holdings in Principal Financial Group by 9.8% in the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company's stock worth $283,546,000 after buying an additional 326,604 shares during the period. Norges Bank purchased a new position in Principal Financial Group during the 4th quarter valued at about $217,021,000. JPMorgan Chase & Co. lifted its position in Principal Financial Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock valued at $211,534,000 after acquiring an additional 118,722 shares during the period. Finally, Deutsche Bank AG lifted its position in Principal Financial Group by 73.5% during the 4th quarter. Deutsche Bank AG now owns 1,482,053 shares of the company's stock valued at $114,726,000 after acquiring an additional 627,865 shares during the period. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Price Performance

Shares of PFG traded down $0.77 during trading hours on Tuesday, hitting $80.53. The stock had a trading volume of 764,353 shares, compared to its average volume of 1,320,568. The company's fifty day moving average is $78.06 and its two-hundred day moving average is $81.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The stock has a market capitalization of $18.05 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing analysts' consensus estimates of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter last year, the company earned $1.65 earnings per share. On average, analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a $0.76 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a dividend yield of 3.77%. Principal Financial Group's dividend payout ratio is 65.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PFG shares. Morgan Stanley upped their price target on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a research report on Monday. BMO Capital Markets initiated 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 on the stock. Piper Sandler increased their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Wells Fargo & Company increased their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a report on Tuesday, April 29th. Finally, Barclays lowered their price target on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $83.85.

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.