Principal Financial Group, Inc. (NASDAQ:PFG) Plans Quarterly Dividend of $0.85

Principal Financial Group, Inc. (NASDAQ:PFG) 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 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 dividend payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of NASDAQ:PFG opened at $110.13 on Tuesday. The company’s 50 day moving average price is $112.21 and its two-hundred day moving average price is $102.95. Principal Financial Group has a 12-month low of $79.48 and a 12-month high of $121.18. The firm has a market cap of $23.58 billion, a PE ratio of 12.25, a PEG ratio of 1.05 and a beta of 0.86. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings results on Monday, October 26th. The company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates 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 firm posted $2.32 earnings per share. Equities research analysts predict that Principal Financial Group will post 9.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PFG shares. UBS Group upped their price objective on shares of Principal Financial Group from $98.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 10th. Raymond James Financial reaffirmed an “outperform” rating and set a $121.00 target price on shares of Principal Financial Group in a report on Monday, August 17th. Atlantic Securities set a $94.00 price target on Principal Financial Group in a research report on Wednesday, July 15th. JPMorgan Chase & Co. decreased their price target on Principal Financial Group from $107.00 to $106.00 and set a “neutral” rating for the company in a research note on Thursday, October 15th. Finally, Weiss Ratings upgraded Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and an average price target of $108.67.

About Principal Financial Group

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.