Principal Financial Group, Inc. (NASDAQ:PFG) Declares Dividend Increase - $0.84 Per Share

Key Points

• Principal Financial Group raised its quarterly dividend 2.4% to $0.84 per share, payable September 25 to shareholders of record September 3. The annualized dividend is $3.36, yielding approximately 3.0%.
• The dividend appears well covered, with a current payout ratio of 36.4%; analysts expect next year’s earnings of $10.34 per share, implying a projected payout ratio of 31.7%.
• Principal reported quarterly EPS of $2.50, exceeding analysts’ $2.33 estimate and rising from $2.16 a year earlier. Its stock opened at $111.29, up 1.7%, near its 52-week high of $114.90.

Principal Financial Group, Inc. (NASDAQ:PFG - Get Free Report) declared a quarterly dividend on Monday, July 27th. Stockholders of record on Thursday, September 3rd will be given a dividend of 0.84 per share on Friday, September 25th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, September 3rd. This is a 2.4% increase from Principal Financial Group's previous quarterly dividend of $0.82.

Principal Financial Group has increased its dividend by an average of 0.1%per year 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 36.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Principal Financial Group to earn $10.34 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 31.7%.

Principal Financial Group Trading Up 1.7%

NASDAQ:PFG opened at $111.29 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. The business's 50-day simple moving average is $108.31 and its 200-day simple moving average is $98.57. Principal Financial Group has a fifty-two week low of $75.00 and a fifty-two week high of $114.90. The stock has a market capitalization of $24.04 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 1.05 and a beta of 0.88.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last posted its earnings results on Monday, July 27th. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.33 by $0.17. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.During the same quarter in the previous year, the business posted $2.16 earnings per share. Sell-side analysts expect that Principal Financial Group will post 9.45 earnings per share for the current fiscal year.

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.

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