Principal Financial Group Inc (NYSE:PFG) declared a quarterly dividend on Monday, January 29th, RTT News reports. Investors 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 3.30%. The ex-dividend date is Friday, March 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.49.
Principal Financial Group has increased its dividend by an average of 13.5% annually 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% meaning 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%.
Shares of Principal Financial Group (NYSE PFG) traded up $0.45 during trading hours on Tuesday, hitting $61.84. The company had a trading volume of 2,108,800 shares, compared to its average volume of 1,457,639. The stock has a market capitalization of $17,860.00, a PE ratio of 7.81, a price-to-earnings-growth ratio of 1.35 and a beta of 1.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10. Principal Financial Group has a one year low of $59.25 and a one year high of $75.58.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Monday, January 29th. The financial services provider reported $1.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.18). The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.32 billion. Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. During the same quarter last year, the business posted $1.27 earnings per share. analysts anticipate that Principal Financial Group will post 5.22 earnings per share for the current year.
In related news, CEO Daniel Joseph Houston sold 37,080 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $70.05, for a total transaction of $2,597,454.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Deanna D. Strable-Soethout sold 18,905 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $70.07, for a total value of $1,324,673.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 301,958 shares of company stock worth $21,343,156. Corporate insiders own 1.50% of the company’s stock.
A number of analysts recently commented on the company. Barclays upgraded Principal Financial Group from an “equal weight” rating to an “overweight” rating and set a $72.00 price target on the stock in a report on Monday. JPMorgan Chase & Co. upgraded Principal Financial Group from an “underweight” rating to a “neutral” rating and set a $70.00 price target on the stock in a report on Monday. Zacks Investment Research lowered Principal Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $76.00 price target on shares of Principal Financial Group in a report on Wednesday, January 31st. Finally, Morgan Stanley lowered their target price on Principal Financial Group from $80.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $73.56.
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Principal Financial Group Company Profile
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.
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