Mitsubishi UFJ Trust & Banking Corp Has $13.95 Million Stock Holdings in Principal Financial Group, Inc. $PFG

Key Points

• Mitsubishi UFJ Trust & Banking increased its stake in Principal Financial Group by 67.2% to 158,121 shares, worth about $13.95 million, representing roughly 0.07% of the company at quarter-end.
• Principal raised its quarterly dividend to $0.82 (annualized $3.28) for a yield of ~3.2%; shareholders of record on June 1 will be paid on June 26.
• In the latest quarter Principal reported EPS of $2.07 (beat by $0.06) but revenue of $3.53 billion missed expectations, and analysts hold a consensus "Hold" rating with a target around $95.33.

Mitsubishi UFJ Trust & Banking Corp lifted its position in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 67.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,121 shares of the company's stock after acquiring an additional 63,531 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of Principal Financial Group worth $13,948,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Principal Financial Group during the 4th quarter worth approximately $26,000. Quest 10 Wealth Builders Inc. raised its holdings in Principal Financial Group by 343.6% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company's stock worth $30,000 after buying an additional 268 shares during the period. FWL Investment Management LLC acquired a new stake in Principal Financial Group during the 3rd quarter worth approximately $32,000. ST Germain D J Co. Inc. raised its holdings in Principal Financial Group by 66.5% during the 4th quarter. ST Germain D J Co. Inc. now owns 398 shares of the company's stock worth $35,000 after buying an additional 159 shares during the period. Finally, Rialto Wealth Management LLC raised its holdings in Principal Financial Group by 3,754.5% during the 4th quarter. Rialto Wealth Management LLC now owns 424 shares of the company's stock worth $37,000 after buying an additional 413 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

NASDAQ:PFG opened at $101.09 on Friday. Principal Financial Group, Inc. has a 1-year low of $74.83 and a 1-year high of $101.90. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $92.37 and a 200 day simple moving average of $89.20. The stock has a market capitalization of $21.90 billion, a PE ratio of 14.46, a P/E/G ratio of 0.96 and a beta of 0.89.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.06. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. The business had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $4.11 billion. During the same period last year, the business earned $1.81 earnings per share. On average, research analysts expect that Principal Financial Group, Inc. will post 9.31 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 1st will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.2%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, June 1st. Principal Financial Group's dividend payout ratio (DPR) is presently 45.78%.

Insiders Place Their Bets

In other Principal Financial Group news, insider Wee Yee Cheong sold 1,080 shares of Principal Financial Group stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $101.00, for a total transaction of $109,080.00. Following the completion of the transaction, the insider directly owned 91,108 shares of the company's stock, valued at $9,201,908. The trade was a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel George Djurasovic sold 2,571 shares of Principal Financial Group stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total transaction of $259,233.93. Following the transaction, the general counsel directly owned 21,906 shares of the company's stock, valued at approximately $2,208,781.98. This trade represents a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,652 shares of company stock valued at $368,414. Company insiders own 1.13% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the company an "underweight" rating in a report on Friday, April 24th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $103.00 price objective on shares of Principal Financial Group in a report on Monday, January 5th. Wells Fargo & Company lowered their price objective on shares of Principal Financial Group from $91.00 to $87.00 and set an "equal weight" rating on the stock in a report on Friday, April 10th. Bank of America lowered their price objective on shares of Principal Financial Group from $96.00 to $92.00 and set a "neutral" rating on the stock in a report on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods reiterated a "hold" rating and issued a $92.00 price objective on shares of Principal Financial Group in a report on Thursday, March 26th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $95.33.

Principal Financial Group Company Profile

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

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