MUFG Securities EMEA plc Purchases 47,316 Shares of Principal Financial Group, Inc. $PFG

Key Points

• MUFG Securities EMEA plc sharply increased its stake in Principal Financial Group, buying 47,316 additional shares in the fourth quarter and lifting its holdings to 51,196 shares worth about $4.52 million.
• Principal Financial Group reported better-than-expected quarterly EPS of $2.07, though revenue of $3.53 billion came in below analyst estimates of $4.11 billion.
• The company raised its quarterly dividend to $0.82 per share from $0.80, implying an annualized yield of about 3.2%; meanwhile, analysts currently have an average Hold rating with a $98.10 price target.

MUFG Securities EMEA plc increased its position in shares of Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 1,219.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,196 shares of the company's stock after acquiring an additional 47,316 shares during the period. MUFG Securities EMEA plc's holdings in Principal Financial Group were worth $4,516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Principal Financial Group during the 4th quarter worth $26,000. Quest 10 Wealth Builders Inc. grew its position 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 acquiring an additional 268 shares during the last quarter. FWL Investment Management LLC bought a new stake in Principal Financial Group during the 3rd quarter worth $32,000. ST Germain D J Co. Inc. grew its position 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 acquiring an additional 159 shares during the last quarter. Finally, Rialto Wealth Management LLC grew its position 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 acquiring an additional 413 shares during the last quarter. Institutional investors own 75.08% of the company's stock.

Insider Activity

In related news, General Counsel George Djurasovic sold 2,571 shares of the company's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total transaction of $259,233.93. Following the sale, the general counsel owned 21,906 shares in the company, valued at $2,208,781.98. This represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wee Yee Cheong sold 7,534 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $103.16, for a total value of $777,207.44. Following the sale, the insider owned 66,443 shares in the company, valued at approximately $6,854,259.88. The trade was a 10.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 28,317 shares of company stock worth $2,884,902. 1.13% of the stock is owned by corporate insiders.

Principal Financial Group Stock Performance

NASDAQ PFG opened at $103.62 on Monday. The business's 50-day moving average price is $96.35 and its two-hundred day moving average price is $92.14. Principal Financial Group, Inc. has a 12 month low of $75.00 and a 12 month high of $105.00. The firm has a market capitalization of $22.38 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.98 and a beta of 0.88. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.06. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the previous year, the company posted $1.81 EPS. On average, analysts expect that Principal Financial Group, Inc. will post 9.36 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 1st will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, June 1st. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.80. Principal Financial Group's dividend payout ratio is currently 45.78%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PFG. Wells Fargo & Company reduced their price objective on Principal Financial Group from $91.00 to $87.00 and set an "equal weight" rating on the stock in a research report on Friday, April 10th. Bank of America reduced their price objective on Principal Financial Group from $96.00 to $92.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. Evercore set a $108.00 price target on Principal Financial Group in a research report on Monday, April 27th. Keefe, Bruyette & Woods reiterated a "hold" rating and issued a $92.00 price target on shares of Principal Financial Group in a research report on Thursday, March 26th. Finally, UBS Group upped their price target on Principal Financial Group from $92.00 to $94.00 and gave the company a "neutral" rating in a research report on Thursday, April 9th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $98.10.

Principal Financial Group 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.

Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group, Inc. (NASDAQ:PFG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.