Mitsubishi UFJ Trust & Banking Corp Sells 6,863 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 6.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 105,108 shares of the company’s stock after selling 6,863 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Principal Financial Group were worth $8,136,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Curio Wealth LLC bought a new stake in shares of Principal Financial Group during the fourth quarter worth approximately $29,000. BankPlus Trust Department bought a new position in Principal Financial Group in the fourth quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC grew its holdings in Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after acquiring an additional 195 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Principal Financial Group during the 4th quarter valued at $46,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Principal Financial Group in the 4th quarter valued at $54,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on PFG. Piper Sandler lifted their price objective on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Barclays increased their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, February 7th. BMO Capital Markets started coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective for the company. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Trading Down 2.4 %

PFG opened at $83.06 on Friday. The firm’s fifty day simple moving average is $84.15 and its 200 day simple moving average is $83.66. The stock has a market capitalization of $18.74 billion, a P/E ratio of 12.43, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.98.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.75 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is currently 44.91%.

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 Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.