Principal Financial Group, Inc. (NASDAQ:PFG) Raises Dividend to $0.85 Per Share

Principal Financial Group, Inc. (NASDAQ:PFG) declared a quarterly dividend on Monday, October 26th. Stockholders of record on Wednesday, December 2nd will be paid a dividend of $0.85 per share on Friday, December 18th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, December 2nd. This is a 1.2% increase from Principal Financial Group’s previous quarterly dividend of $0.84.

Principal Financial Group has raised its dividend by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 2 years. Principal Financial Group has a payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Principal Financial Group to earn $10.29 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 32.7%.

Principal Financial Group Price Performance

Shares of NASDAQ:PFG opened at $110.13 on Tuesday. Principal Financial Group has a twelve month low of $79.48 and a twelve month high of $121.18. The stock’s 50 day moving average is $112.21 and its 200-day moving average is $102.95. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $23.58 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.05 and a beta of 0.86.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings results on Monday, October 26th. The company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.46 by ($0.24). Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. During the same quarter last year, the company posted $2.32 earnings per share. Sell-side analysts forecast that Principal Financial Group will post 9.44 EPS for the current fiscal year.

About Principal Financial Group

Principal Financial Group, Inc is a global financial services company that helps individuals and businesses build, protect and manage wealth. Its offerings include retirement plans, individual retirement accounts, investment products, life and disability insurance, and financial wellness solutions. The company also provides institutional investment management and pension-risk transfer services.

Principal serves employers, institutions and individual investors through a range of retirement and workplace benefits solutions.