Principal Financial Group Inc (NYSE:PFG) Increases Dividend to $0.55 Per Share

Principal Financial Group Inc (NYSE:PFG) declared a quarterly dividend on Thursday, July 25th, RTT News reports. Investors of record on Thursday, September 5th will be given a dividend of 0.55 per share by the financial services provider on Friday, September 27th. This represents a $2.20 annualized dividend and a yield of 3.66%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.54.

Principal Financial Group has raised its dividend payment by an average of 11.9% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Principal Financial Group has a dividend payout ratio of 37.1% meaning its dividend is sufficiently covered by earnings.

NYSE PFG traded down $0.49 during mid-day trading on Thursday, hitting $60.09. The company’s stock had a trading volume of 1,698,216 shares, compared to its average volume of 1,512,380. Principal Financial Group has a 52-week low of $40.42 and a 52-week high of $61.12. The company has a fifty day moving average price of $57.48.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.11. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the business posted $1.40 EPS.

In other news, EVP Julia M. Lawler sold 1,000 shares of Principal Financial Group stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $58.54, for a total transaction of $58,540.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Luis E. Valdes sold 47,661 shares of Principal Financial Group stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $57.67, for a total transaction of $2,748,609.87. The disclosure for this sale can be found here. Insiders have sold 62,490 shares of company stock worth $3,620,199 in the last quarter. Insiders own 1.50% of the company’s stock.

A number of research firms have recently issued reports on PFG. Zacks Investment Research lowered shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Royal Bank of Canada lifted their price objective on shares of Principal Financial Group to $55.00 and gave the company a “market perform” rating in a research note on Monday, April 29th. Finally, UBS Group reiterated a “buy” rating and set a $25.00 price objective on shares of Infineon Technologies in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $56.43.

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 Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Dividend History for Principal Financial Group (NYSE:PFG)

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