Principal Financial Group, Inc. (NASDAQ:PFG) Declares Dividend Increase - $0.85 Per Share

Key Points

• Principal Financial Group raised its quarterly dividend by 1.2% to $0.85 per share, payable December 18 to shareholders of record December 2. The annualized dividend is $3.40 per share, yielding approximately 3.1%.
• The dividend appears well covered, with a current payout ratio of 37.3%; analysts expect a future payout ratio of about 32.7% based on projected earnings.
• Principal reported quarterly earnings of $2.22 per share, missing the $2.46 consensus estimate and declining from $2.32 in the prior-year quarter. The stock opened at $110.13, with a market capitalization of approximately $23.58 billion.

Principal Financial Group, Inc. (NASDAQ:PFG - Get Free Report) declared a quarterly dividend on Monday, October 26th. Investors of record on Wednesday, December 2nd will be given 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 of this dividend 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 increased its dividend payment by an average of 0.1% per year 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 37.3% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 1.4%

PFG opened at $110.13 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.28 and a current ratio of 0.28. The stock's 50 day moving average price is $112.21 and its 200-day moving average price is $102.95. Principal Financial Group has a one year low of $79.48 and a one year high of $121.18. The stock has a market cap of $23.58 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 1.05 and a beta of 0.86.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last released its earnings results on Monday, October 26th. The company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.46 by ($0.24). Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%. During the same period in the prior year, the company earned $2.32 EPS. On average, equities analysts forecast that Principal Financial Group will post 9.44 EPS for the current year.

Principal Financial Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.