American Century Companies Inc. Sells 43,696 Shares of Principal Financial Group, Inc. $PFG

Key Points

• American Century Companies Inc. reduced its stake in Principal Financial Group by 22.6%, now holding 150,026 shares valued at approximately $12.66 million.
• Several institutional investors have altered their positions in PFG, with Aberdeen Group plc increasing its stake by 113.5%, owning 165,700 shares worth $13.87 million following an additional acquisition.
• Principal Financial Group recently announced a quarterly dividend increase, now at $0.78 per share, representing a 3.9% yield and a payout ratio of 62.78%.

American Century Companies Inc. reduced its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 22.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,026 shares of the company's stock after selling 43,696 shares during the quarter. American Century Companies Inc. owned 0.07% of Principal Financial Group worth $12,658,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new stake in Principal Financial Group in the 1st quarter valued at $32,000. Zions Bancorporation National Association UT acquired a new stake in Principal Financial Group in the 1st quarter valued at $34,000. Navigoe LLC acquired a new stake in Principal Financial Group in the 4th quarter valued at $37,000. Ameriflex Group Inc. bought a new stake in Principal Financial Group during the 4th quarter worth about $37,000. Finally, GKV Capital Management Co. Inc. bought a new stake in Principal Financial Group during the 1st quarter worth about $45,000. 75.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on PFG shares. Barclays boosted their price target on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a research report on Monday, July 7th. Morgan Stanley boosted their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a research report on Monday, August 18th. Wells Fargo & Company cut their price target on shares of Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods cut their price target on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating on the stock in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Principal Financial Group presently has an average rating of "Reduce" and an average target price of $86.90.

Principal Financial Group Stock Performance

Shares of PFG stock traded up $0.29 on Friday, reaching $80.51. The stock had a trading volume of 974,695 shares, compared to its average volume of 1,392,479. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm's 50-day moving average is $79.13 and its two-hundred day moving average is $79.35. The firm has a market capitalization of $17.94 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 0.76 and a beta of 1.00. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the previous year, the company posted $1.63 EPS. On average, research analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.12 annualized dividend and a yield of 3.9%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's payout ratio is currently 62.78%.

About Principal Financial Group

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.