Principal Financial Group Inc (NYSE:PFG) declared a quarterly dividend on Monday, January 29th, RTT News reports. Stockholders of record on Monday, March 5th will be paid a dividend of 0.51 per share by the financial services provider on Thursday, March 29th. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.49.
Principal Financial Group has increased its dividend by an average of 13.5% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Principal Financial Group has a payout ratio of 37.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Principal Financial Group to earn $5.61 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 34.9%.
Principal Financial Group (NYSE:PFG) traded down $0.54 during trading on Monday, reaching $74.50. The company had a trading volume of 1,701,694 shares, compared to its average volume of 1,141,631. Principal Financial Group has a twelve month low of $56.12 and a twelve month high of $75.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a market capitalization of $21,510.00, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.35 and a beta of 1.72.
Several equities analysts recently commented on the company. Zacks Investment Research cut Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Wells Fargo & Co set a $79.00 target price on Principal Financial Group and gave the stock a “buy” rating in a research report on Thursday, December 7th. Keefe, Bruyette & Woods restated a “hold” rating and set a $73.00 target price on shares of Principal Financial Group in a research report on Monday, December 11th. Goldman Sachs Group upgraded Principal Financial Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. Finally, Morgan Stanley boosted their target price on Principal Financial Group from $67.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $69.89.
In other news, insider Nora Mary Everett sold 17,290 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $70.16, for a total value of $1,213,066.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Mark Dunbar sold 16,400 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $70.23, for a total value of $1,151,772.00. The disclosure for this sale can be found here. Insiders sold a total of 301,958 shares of company stock valued at $21,343,156 over the last quarter. Company insiders own 1.50% of the company’s stock.
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About Principal Financial Group
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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