American Century Companies Inc. Has $18.96 Million Stock Holdings in Principal Financial Group, Inc. $PFG

American Century Companies Inc. increased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 59.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 238,672 shares of the company’s stock after acquiring an additional 88,646 shares during the period. American Century Companies Inc. owned about 0.11% of Principal Financial Group worth $18,958,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PFG. Oliver Lagore Vanvalin Investment Group bought a new position in Principal Financial Group during the second quarter worth about $25,000. Traub Capital Management LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $26,000. American National Bank & Trust bought a new position in shares of Principal Financial Group during the 2nd quarter worth approximately $28,000. Curio Wealth LLC boosted its stake in Principal Financial Group by 37,800.0% in the 2nd quarter. Curio Wealth LLC now owns 379 shares of the company’s stock valued at $30,000 after buying an additional 378 shares in the last quarter. Finally, Private Wealth Asset Management LLC grew its position in Principal Financial Group by 163.4% in the second quarter. Private Wealth Asset Management LLC now owns 403 shares of the company’s stock valued at $32,000 after acquiring an additional 250 shares during the period. Institutional investors own 75.08% of the company’s stock.

Insider Buying and Selling

In other Principal Financial Group news, EVP Wee Yee Cheong sold 1,887 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $85.04, for a total value of $160,470.48. Following the completion of the sale, the executive vice president owned 81,421 shares of the company’s stock, valued at approximately $6,924,041.84. This represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PFG shares. Wells Fargo & Company increased their price objective on Principal Financial Group from $73.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 29th. Piper Sandler set a $94.00 target price on shares of Principal Financial Group and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Evercore ISI lifted their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a report on Thursday, October 9th. Morgan Stanley raised shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $80.00 to $81.00 in a research note on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Principal Financial Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $88.90.

Principal Financial Group Stock Down 0.2%

Shares of Principal Financial Group stock opened at $84.32 on Wednesday. The business has a fifty day simple moving average of $82.40 and a 200 day simple moving average of $80.18. The stock has a market cap of $18.78 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.76 and a beta of 1.02. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $90.31.

Principal Financial Group (NYSE:PFG) last released its earnings results on Monday, October 27th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.12. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same period last year, the business earned $2.05 EPS. Research analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.79 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, December 3rd. Principal Financial Group’s dividend payout ratio is presently 46.00%.

Principal Financial Group Company Profile

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.