Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in Principal Financial Group, Inc. (NYSE:PFG) by 5.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 29,371 shares of the company’s stock after selling 1,764 shares during the period. Mutual of America Capital Management LLC’s holdings in Principal Financial Group were worth $2,311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new position in shares of Principal Financial Group in the 1st quarter worth approximately $51,000. American Century Companies Inc. lifted its holdings in shares of Principal Financial Group by 25.8% in the 1st quarter. American Century Companies Inc. now owns 35,507 shares of the company’s stock worth $2,607,000 after acquiring an additional 7,292 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Principal Financial Group by 55.6% in the 1st quarter. Panagora Asset Management Inc. now owns 15,825 shares of the company’s stock worth $1,162,000 after acquiring an additional 5,657 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Principal Financial Group by 5.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,506 shares of the company’s stock worth $2,386,000 after acquiring an additional 1,564 shares during the last quarter. Finally, Cibc World Market Inc. acquired a new position in shares of Principal Financial Group in the 1st quarter worth approximately $1,345,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Trading Up 1.9 %

Shares of NYSE:PFG opened at $80.44 on Friday. Principal Financial Group, Inc. has a 52 week low of $65.17 and a 52 week high of $86.79. The company’s 50 day moving average is $81.64 and its two-hundred day moving average is $77.04. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The company has a market cap of $18.92 billion, a PE ratio of 12.04, a P/E/G ratio of 0.97 and a beta of 1.25.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, February 12th. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. Principal Financial Group had a net margin of 4.56% and a return on equity of 15.14%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the prior year, the firm posted $1.70 EPS. Equities analysts predict that Principal Financial Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Principal Financial Group announced that its Board of Directors has approved a share buyback plan on Monday, February 12th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 7.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were given a $0.69 dividend. The ex-dividend date was Monday, March 11th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.67. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.43%. Principal Financial Group’s dividend payout ratio is currently 112.65%.

Analysts Set New Price Targets

PFG has been the topic of several recent analyst reports. Evercore ISI upped their price objective on shares of Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Wells Fargo & Company upped their price objective on shares of Principal Financial Group from $86.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Morgan Stanley upped their price objective on shares of Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Royal Bank of Canada increased their target price on shares of Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $80.64.

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.