Principal Financial Group, Inc. (PFG) to Issue Quarterly Dividend of $0.82 on June 26th

Principal Financial Group, Inc. (NASDAQ:PFG) declared a quarterly dividend on Wednesday, April 22nd. Shareholders of record on Monday, June 1st will be paid a dividend of 0.82 per share on Friday, June 26th. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, June 1st. This is a 2.5% increase from Principal Financial Group’s previous quarterly dividend of $0.80.

Principal Financial Group has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Principal Financial Group has a payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Principal Financial Group to earn $10.24 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 32.0%.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $103.62 on Friday. The firm has a market capitalization of $22.38 billion, a P/E ratio of 14.82, a P/E/G ratio of 0.97 and a beta of 0.89. Principal Financial Group has a 52 week low of $75.00 and a 52 week high of $105.00. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average is $96.35 and its two-hundred day moving average is $92.08.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, beating the consensus estimate of $2.01 by $0.06. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same period in the prior year, the firm posted $1.81 earnings per share. Research analysts forecast that Principal Financial Group will post 9.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on PFG shares. Evercore set a $108.00 price target on shares of Principal Financial Group in a research note on Monday, April 27th. Bank of America dropped their price target on shares of Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. UBS Group increased their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Raymond James Financial lowered shares of Principal Financial Group from a “strong-buy” rating to an “outperform” rating and increased their price target for the company from $99.00 to $111.00 in a research note on Tuesday, May 19th. Finally, Weiss Ratings lowered shares of Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Principal Financial Group has an average rating of “Hold” and a consensus price target of $98.10.

Principal Financial Group Company Profile

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.