Principal Financial Group, Inc. (NASDAQ:PFG) Raises Dividend to $0.84 Per Share

Principal Financial Group, Inc. (NASDAQ:PFG) declared a quarterly dividend on Monday, July 27th. Stockholders of record on Thursday, September 3rd will be given a dividend of 0.84 per share on Friday, September 25th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Thursday, September 3rd. This is a 2.4% increase from Principal Financial Group’s previous quarterly dividend of $0.82.

Principal Financial Group has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Principal Financial Group has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Principal Financial Group to earn $10.34 per share next year, which means the company should continue to be able to cover its $3.28 annual dividend with an expected future payout ratio of 31.7%.

Principal Financial Group Stock Up 1.7%

Shares of PFG stock opened at $111.29 on Tuesday. Principal Financial Group has a 52-week low of $75.00 and a 52-week high of $114.90. The stock has a market cap of $24.04 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.05 and a beta of 0.88. The firm’s 50-day moving average is $108.31 and its 200-day moving average is $98.57. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.17. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.During the same quarter in the previous year, the company earned $2.16 earnings per share. Sell-side analysts predict that Principal Financial Group will post 9.45 EPS for the current year.

About Principal Financial Group

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.