Principal Financial Group, Inc. (PFG) to Issue Quarterly Dividend of $0.79 on December 19th

Principal Financial Group, Inc. (NYSE:PFG) announced a quarterly dividend on Friday, October 24th. Stockholders of record on Wednesday, December 3rd will be given a dividend of 0.79 per share on Friday, December 19th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, December 3rd. This is a 1.3% increase from Principal Financial Group’s previous quarterly dividend of $0.78.

Principal Financial Group has increased its dividend 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 35.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Principal Financial Group to earn $9.30 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 34.0%.

Principal Financial Group Stock Up 0.3%

PFG stock opened at $84.82 on Monday. The company’s 50 day simple moving average is $82.31 and its 200-day simple moving average is $80.14. The firm has a market capitalization of $18.90 billion, a PE ratio of 12.70, a P/E/G ratio of 0.76 and a beta of 1.02. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group has a 12 month low of $68.39 and a 12 month high of $90.31.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, October 27th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.12. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the prior year, the business earned $2.05 EPS. Equities analysts expect that Principal Financial Group will post 8.5 earnings per share for the current fiscal year.

Insider Activity at Principal Financial Group

In related news, EVP Wee Yee Cheong sold 1,887 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $85.04, for a total value of $160,470.48. Following the completion of the sale, the executive vice president directly owned 81,421 shares in the company, valued at approximately $6,924,041.84. This represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.08% of the stock is currently owned by corporate insiders.

Institutional Trading of Principal Financial Group

Several institutional investors have recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Principal Financial Group in the second quarter valued at about $3,269,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Principal Financial Group by 3.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,037 shares of the company’s stock valued at $1,989,000 after buying an additional 814 shares during the period. LVW Advisors LLC acquired a new position in Principal Financial Group during the 2nd quarter worth approximately $297,000. Public Employees Retirement System of Ohio grew its stake in Principal Financial Group by 3.5% in the second quarter. Public Employees Retirement System of Ohio now owns 72,348 shares of the company’s stock valued at $5,747,000 after acquiring an additional 2,469 shares during the period. Finally, AE Wealth Management LLC grew its stake in Principal Financial Group by 14.3% in the second quarter. AE Wealth Management LLC now owns 156,900 shares of the company’s stock valued at $12,462,000 after acquiring an additional 19,644 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

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 Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.