Principal Financial Group, Inc. (NASDAQ:PFG) Announces Quarterly Dividend of $0.82

Key Points

• Principal Financial Group declared a quarterly dividend of $0.82 per share (a 2.5% increase from $0.80) with an ex‑dividend and record date of June 1 and payment on June 26, reflecting a yield of about 3.4%.
• The dividend appears well covered: the company reports a payout ratio of 35.5%, and analysts forecast ~$10.31 EPS next year, implying a projected payout ratio near 31%.
• Shares opened at $97.00 (52‑week range $71.54–$98.44) with a market cap of about $21.0B and P/E ~18.4; CEO Deanna Strable‑Soethout sold 7,340 shares (~$697k), insiders own ~1.08% and institutions own ~75.08%.

Principal Financial Group, Inc. (NASDAQ:PFG - Get Free Report) declared a quarterly dividend on Thursday, April 23rd. Investors 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 3.4%. The ex-dividend date of this dividend 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 every year for the last 2 years. Principal Financial Group has a payout ratio of 35.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Principal Financial Group to earn $10.31 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 31.0%.

Principal Financial Group Stock Down 0.4%

Principal Financial Group stock opened at $97.00 on Friday. The firm has a market cap of $21.02 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 0.90 and a beta of 0.87. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. Principal Financial Group has a fifty-two week low of $71.54 and a fifty-two week high of $98.44. The firm has a fifty day moving average price of $91.53 and a two-hundred day moving average price of $88.59.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. The company had revenue of $4.58 billion for the quarter. Principal Financial Group had a return on equity of 16.09% and a net margin of 7.58%. As a group, analysts forecast that Principal Financial Group will post 9.32 earnings per share for the current year.

Insider Transactions at Principal Financial Group

In other news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $95.00, for a total value of $697,300.00. Following the completion of the transaction, the chief executive officer owned 136,828 shares in the company, valued at approximately $12,998,660. This represents a 5.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.08% of the stock is owned by company insiders.

Institutional Trading of Principal Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PFG. Impact Partnership Wealth LLC raised its position in Principal Financial Group by 264.3% in the first quarter. Impact Partnership Wealth LLC now owns 16,053 shares of the company's stock worth $1,447,000 after purchasing an additional 11,647 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ boosted its holdings in Principal Financial Group by 2.8% during the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 52,375 shares of the company's stock valued at $4,719,000 after purchasing an additional 1,402 shares in the last quarter. Apollon Wealth Management LLC grew its stake in shares of Principal Financial Group by 4.1% in the 1st quarter. Apollon Wealth Management LLC now owns 5,959 shares of the company's stock valued at $537,000 after purchasing an additional 233 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Principal Financial Group in the 1st quarter valued at approximately $272,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Principal Financial Group by 46.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 30,015 shares of the company's stock worth $2,705,000 after buying an additional 9,499 shares in the last quarter. Institutional investors own 75.08% of the company's stock.

About Principal Financial Group

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.

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