Principal Financial Group Inc. Has $12.58 Million Stake in BankUnited, Inc. (NYSE:BKU)

Principal Financial Group Inc. trimmed its holdings in shares of BankUnited, Inc. (NYSE:BKU) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,834 shares of the financial services provider’s stock after selling 13,379 shares during the period. Principal Financial Group Inc. owned 0.52% of BankUnited worth $12,577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC increased its stake in shares of BankUnited by 54.3% in the 4th quarter. Jennison Associates LLC now owns 1,459,268 shares of the financial services provider’s stock valued at $47,324,000 after buying an additional 513,342 shares during the period. FMR LLC increased its stake in shares of BankUnited by 23.2% in the 3rd quarter. FMR LLC now owns 1,539,176 shares of the financial services provider’s stock valued at $34,939,000 after buying an additional 290,232 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of BankUnited by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,596,577 shares of the financial services provider’s stock valued at $116,639,000 after buying an additional 251,281 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of BankUnited by 482.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 285,754 shares of the financial services provider’s stock valued at $6,487,000 after buying an additional 236,706 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of BankUnited by 17.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,448,921 shares of the financial services provider’s stock valued at $46,989,000 after buying an additional 212,496 shares during the period. 99.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John N. Digiacomo sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $29.28, for a total value of $43,920.00. Following the sale, the director now directly owns 13,482 shares in the company, valued at $394,752.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Kevin A. Malcolm sold 2,285 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $27.18, for a total transaction of $62,106.30. Following the sale, the insider now owns 11,750 shares in the company, valued at $319,365. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John N. Digiacomo sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $29.28, for a total value of $43,920.00. Following the sale, the director now owns 13,482 shares in the company, valued at approximately $394,752.96. The disclosure for this sale can be found here. Corporate insiders own 1.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on BKU. JPMorgan Chase & Co. lowered their target price on BankUnited from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, April 4th. Royal Bank of Canada decreased their price objective on BankUnited from $33.00 to $29.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 9th. Citigroup decreased their price objective on BankUnited from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, January 29th. Wells Fargo & Company lifted their price objective on BankUnited from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Finally, Barclays initiated coverage on BankUnited in a research note on Friday, March 8th. They set an “equal weight” rating and a $29.00 price objective for the company. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.50.

BankUnited Stock Performance

BKU stock opened at $28.52 on Friday. The business’s 50-day moving average price is $27.58 and its two-hundred day moving average price is $28.12. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.48. The firm has a market cap of $2.13 billion, a PE ratio of 12.29 and a beta of 1.34. BankUnited, Inc. has a 1-year low of $18.54 and a 1-year high of $34.22.

BankUnited (NYSE:BKU) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $508.35 million for the quarter, compared to analyst estimates of $239.84 million. BankUnited had a return on equity of 8.06% and a net margin of 8.71%. During the same period in the previous year, the company posted $0.70 earnings per share. As a group, research analysts forecast that BankUnited, Inc. will post 2.74 earnings per share for the current year.

BankUnited Company Profile

BankUnited, Inc operates as the bank holding company for BankUnited, a national banking association that provides a range of banking services in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts; certificates of deposit; and treasury, commercial payment, and cash management services.