Principal Financial Group Inc (PFG) Plans Quarterly Dividend of $0.51

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.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, October 26th. The financial services provider reported $1.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.02). Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. equities research analysts predict that Principal Financial Group will post 5.22 EPS for the current year.

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.

Dividend History for Principal Financial Group (NYSE:PFG)

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