On August 30, 2023, it was reported that Principal Financial Group Inc. had increased its holdings in Fulton Financial Co. by 2.1% during the first quarter of the year. The institutional investor purchased an additional 13,565 shares of the bank’s stock, bringing its total ownership to 665,058 shares. This represents approximately 0.40% of Fulton Financial’s total worth, which amounts to $9,191,000.
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Fulton Financial also recently announced a quarterly dividend payment, which was made on Friday, July 14th. Shareholders who were recorded as owners on Monday, July 3rd received a dividend of $0.16 per share. The ex-dividend date for this payment was on Friday, June 30th. It is worth noting that this dividend amount is higher than the previous quarterly dividend of $0.15.
With an annualized dividend payout of $0.64 per share and a current dividend yield of 4.75%, Fulton Financial presents an attractive return for its shareholders through its dividends. The increase in the company’s dividend payout ratio (DPR) from the previous quarter is also a positive development, currently standing at 37.21%.
The upward trend in Principal Financial Group Inc.’s holdings in Fulton Financial indicates their confidence and interest in the bank’s performance and future prospects. Investors and market participants will likely monitor these developments closely for potential insights into Fulton Financial’s competitive position and financial stability.
As with any investment decision or analysis related to stocks and financial institutions, it is crucial to conduct thorough research and seek advice from financial professionals before making any investment decisions based on this information.
Please note that this article is based on information available as of August 30th, 2023 and may not reflect any subsequent developments or changes regarding Fulton Financial Co.’s stock or Principal Financial Group Inc.’s holdings in the company’s shares. It is always recommended to refer to the latest financial reports, statements, and regulatory filings for the most up-to-date information.
Big Players Increase Holdings in Fulton Financial Stock: Insights into Institutional Investment Strategies
August 30, 2023
The investment landscape is an ever-changing and perplexing world, where institutions strive to make the most astute decisions to maximize their returns. Recently, there have been significant modifications in holdings of Fulton Financial stock by various hedge funds and institutional investors. Notably, BlackRock Inc., one of the largest investment management firms in the world, saw a 6.0% increase in its position during the 1st quarter. With this adjustment, BlackRock now owns a staggering 21,821,468 shares of Fulton Financial stock valued at $362,670,000.
Another heavyweight in the financial sector, Vanguard Group Inc., also bolstered its position in Fulton Financial by 7.2% during the 3rd quarter. As a result of this move, Vanguard Group holds an impressive 17,117,537 shares of the bank’s stock amounting to $270,457,000 in value. It seems that Dimensional Fund Advisors LP also joined the party and increased their position by 1.2% during the 4th quarter. They now own a commendable 12,159,090 shares worth a substantial sum of $204,640
million.
State Street Corp exhibited similar bullishness towards Fulton Financial and boosted its position by 8.9% in the first quarter. Their holdings now total an astounding number of shares – a whopping 8,941,860 valued at $149… Get your Full access SUBSCRIBE NOW Newsletters Alerts Gift Subscrip
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The post Principal Financial Group Inc. Increases Holdings in Fulton Financial Co. and Raises Dividend Yield appeared first on Best Stocks.
