Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Increases Position in Principal Financial Group, Inc. (NASDAQ:PFG)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 4.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 157,489 shares of the company’s stock after purchasing an additional 6,471 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned about 0.06% of Principal Financial Group worth $11,363,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinnacle Associates Ltd. increased its holdings in Principal Financial Group by 2.5% during the third quarter. Pinnacle Associates Ltd. now owns 13,170 shares of the company’s stock valued at $950,000 after buying an additional 318 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Principal Financial Group in the third quarter worth $54,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Principal Financial Group in the third quarter worth $200,000. Pinnacle Financial Partners Inc. purchased a new stake in shares of Principal Financial Group in the third quarter worth $205,000. Finally, Raymond James Trust N.A. purchased a new stake in shares of Principal Financial Group in the third quarter worth $210,000. Hedge funds and other institutional investors own 74.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PFG shares. Keefe, Bruyette & Woods cut shares of Principal Financial Group from a “market perform” rating to an “underperform” rating and increased their price objective for the stock from $75.00 to $77.00 in a research note on Monday, October 31st. Raymond James started coverage on shares of Principal Financial Group in a research note on Wednesday, September 21st. They issued a “market perform” rating for the company. Morgan Stanley cut their target price on shares of Principal Financial Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research note on Tuesday, January 10th. JPMorgan Chase & Co. raised their target price on shares of Principal Financial Group from $72.00 to $78.00 and gave the company an “underweight” rating in a research note on Friday, January 6th. Finally, Royal Bank of Canada raised their target price on shares of Principal Financial Group from $75.00 to $88.00 in a research note on Monday, October 31st. Eight equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $78.25.

Principal Financial Group Price Performance

PFG stock opened at $89.32 on Tuesday. Principal Financial Group, Inc. has a 52 week low of $61.05 and a 52 week high of $96.17. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $88.67 and a two-hundred day simple moving average of $81.15. The firm has a market capitalization of $21.85 billion, a P/E ratio of 4.33, a price-to-earnings-growth ratio of 2.32 and a beta of 1.27.

Principal Financial Group (NASDAQ:PFGGet Rating) last released its earnings results on Thursday, October 27th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.24. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.05 billion. Principal Financial Group had a net margin of 28.67% and a return on equity of 14.61%. Analysts anticipate that Principal Financial Group, Inc. will post 6.48 earnings per share for the current fiscal year.

Principal Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 19th. Stockholders of record on Thursday, December 1st were issued a $0.64 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $2.56 annualized dividend and a dividend yield of 2.87%. Principal Financial Group’s dividend payout ratio (DPR) is presently 12.41%.

About Principal Financial Group

(Get Rating)

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 Global Investors, Principal International, and U.S. Insurance Solutions segments.

See Also

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Institutional Ownership by Quarter for Principal Financial Group (NASDAQ:PFG)

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