Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Principal Financial Group Inc (NYSE:PFG) by 16.2% in the fourth quarter, HoldingsChannel reports. The firm owned 49,005 shares of the financial services provider’s stock after acquiring an additional 6,821 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Principal Financial Group were worth $2,691,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. National Pension Service increased its holdings in shares of Principal Financial Group by 5.4% in the 3rd quarter. National Pension Service now owns 408,988 shares of the financial services provider’s stock valued at $23,370,000 after acquiring an additional 20,857 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Principal Financial Group in the 3rd quarter valued at $8,998,000. Cadence Capital Management LLC increased its holdings in shares of Principal Financial Group by 4.7% in the 3rd quarter. Cadence Capital Management LLC now owns 13,011 shares of the financial services provider’s stock valued at $743,000 after acquiring an additional 586 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Principal Financial Group by 66.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 231,719 shares of the financial services provider’s stock valued at $13,268,000 after acquiring an additional 92,758 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Principal Financial Group by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 95,495 shares of the financial services provider’s stock valued at $5,457,000 after acquiring an additional 356 shares during the period. 68.64% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Julia M. Lawler sold 1,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $54.63, for a total transaction of $54,630.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is owned by insiders.
Principal Financial Group (NYSE:PFG) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter last year, the firm earned $1.11 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.97%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, February 28th.
Separately, Morgan Stanley set a $56.00 price target on Principal Financial Group and gave the company a “hold” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $57.40.
Principal Financial Group Profile
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.
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