Principal Financial Group, Inc. (PFG) To Go Ex-Dividend on March 12th

Principal Financial Group, Inc. (NYSE:PFG) announced a quarterly dividend on Wednesday, February 5th, Wall Street Journal reports. Investors of record on Wednesday, March 12th will be given a dividend of 0.75 per share on Friday, March 28th. This represents a $3.00 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a 2.7% increase from Principal Financial Group’s previous quarterly dividend of $0.73.

Principal Financial Group has increased its dividend by an average of 5.3% per year over the last three years. Principal Financial Group has a payout ratio of 32.4% meaning its dividend is sufficiently covered by earnings. Equities 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 $3.00 annual dividend with an expected future payout ratio of 32.3%.

Principal Financial Group Stock Down 1.2 %

PFG stock opened at $85.61 on Monday. The firm has a market cap of $19.31 billion, a PE ratio of 12.82, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm’s fifty day moving average is $82.56 and its 200 day moving average is $83.28. Principal Financial Group has a one year low of $72.21 and a one year high of $91.97.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Piper Sandler lifted their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $85.92.

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.