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

MUFG Securities EMEA plc lifted its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 1,219.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,196 shares of the company’s stock after purchasing 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.

Several other institutional investors and hedge funds also recently made changes to their positions in PFG. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Principal Financial Group during the 4th quarter worth approximately $26,000. Quest 10 Wealth Builders Inc. raised its stake 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 position in Principal Financial Group during the 3rd quarter worth approximately $32,000. ST Germain D J Co. Inc. raised its stake 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 stake 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. Institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

PFG has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Friday, April 10th. Barclays upped their price target on Principal Financial Group from $85.00 to $87.00 and gave the stock an “underweight” rating in a research note on Friday, April 24th. Bank of America dropped their price target on Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. UBS Group upped their price target on Principal Financial Group from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Finally, Morgan Stanley upped their price target on Principal Financial Group from $95.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.10.

Insider Activity at Principal Financial Group

In other news, insider Wee Yee Cheong sold 7,534 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $103.16, for a total value of $777,207.44. Following the completion of the sale, the insider directly owned 66,443 shares of the company’s stock, valued at $6,854,259.88. This represents a 10.18% decrease in their ownership of the stock. The sale 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 the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total value of $259,233.93. Following the completion of the sale, 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 three months, insiders sold 28,317 shares of company stock valued at $2,884,902. Company insiders own 1.13% of the company’s stock.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $103.62 on Monday. The company has a market cap 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. Principal Financial Group, Inc. has a 52 week low of $75.00 and a 52 week high of $105.00. The business has a 50 day moving average price of $96.35 and a 200-day moving average price of $92.14. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $2.01 by $0.06. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $4.11 billion. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.During the same period in the prior year, the business posted $1.81 earnings per share. Equities analysts anticipate that Principal Financial Group, Inc. will post 9.36 earnings per share 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. Stockholders of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.2%. This is a boost 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 currently 45.78%.

About Principal Financial Group

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.