Principal Financial Group, Inc. (NASDAQ:PFG) Announces Quarterly Dividend of $0.78

Key Points

• Principal Financial Group, Inc. announced a quarterly dividend of $0.78 per share, representing a 2.6% increase from the previous quarter.
• The company reported $2.16 earnings per share for the last quarter, beating estimates by $0.18, although revenue was below expectations.
• Shares are currently trading at $80.19, with a market cap of $17.98 billion and a dividend yield of 3.89%.

Principal Financial Group, Inc. (NASDAQ:PFG - Get Free Report) announced a quarterly dividend on Tuesday, July 29th, Wall Street Journal reports. Stockholders of record on Thursday, September 4th will be paid a dividend of 0.78 per share on Friday, September 26th. This represents a $3.12 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Thursday, September 4th. This is a 2.6% increase from Principal Financial Group's previous quarterly dividend of $0.76.

Principal Financial Group has a dividend payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock traded down $0.20 during trading on Tuesday, hitting $80.19. 2,014,120 shares of the company's stock traded hands, compared to its average volume of 1,404,697. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.38. The business's fifty day simple moving average is $78.75. Principal Financial Group has a twelve month low of $68.39 and a twelve month high of $91.97. The firm has a market cap of $17.98 billion, a P/E ratio of 17.17, a PEG ratio of 0.83 and a beta of 0.99.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.18. Principal Financial Group had a net margin of 6.89% and a return on equity of 14.85%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $4 billion.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Principal Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday.

About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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