American Century Companies Inc. lessened its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 8.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,722 shares of the company's stock after selling 18,207 shares during the period. American Century Companies Inc. owned 0.08% of Principal Financial Group worth $14,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Amundi increased its position in Principal Financial Group by 24.1% during the fourth quarter. Amundi now owns 1,359,779 shares of the company's stock worth $106,511,000 after buying an additional 264,383 shares during the period. KBC Group NV boosted its stake in Principal Financial Group by 398.4% during the 4th quarter. KBC Group NV now owns 291,379 shares of the company's stock worth $22,555,000 after purchasing an additional 232,915 shares during the period. Raymond James Financial Inc. purchased a new position in Principal Financial Group during the 4th quarter worth $15,821,000. Quantbot Technologies LP increased its stake in Principal Financial Group by 2,064.3% in the fourth quarter. Quantbot Technologies LP now owns 148,299 shares of the company's stock valued at $11,480,000 after purchasing an additional 141,447 shares during the period. Finally, AustralianSuper Pty Ltd raised its holdings in shares of Principal Financial Group by 23.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company's stock valued at $51,509,000 after buying an additional 125,198 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.
Principal Financial Group Price Performance
Shares of PFG stock traded down $6.87 during trading hours on Thursday, hitting $79.32. The company's stock had a trading volume of 1,412,169 shares, compared to its average volume of 1,220,383. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $84.35 and a 200-day moving average of $83.76. The stock has a market cap of $17.89 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.98.
Principal Financial Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Wednesday, March 12th. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's dividend payout ratio (DPR) is currently 44.91%.
Wall Street Analyst Weigh In
Several analysts have commented on the company. Keefe, Bruyette & Woods upped their price objective on Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a research note on Wednesday, February 12th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price objective for the company. Barclays increased their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, February 7th. Finally, Piper Sandler increased their target price on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of "Hold" and a consensus target price of $86.57.
Read Our Latest Analysis on PFG
About Principal Financial Group
(
Free Report)
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.
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