Principal Financial Group (NYSE:PFG – Get Free Report) announced its quarterly earnings results on Thursday. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.09), Briefing.com reports. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Principal Financial Group had a return on equity of 15.14% and a net margin of 4.56%. During the same period last year, the firm earned $1.48 EPS.
Principal Financial Group Stock Down 2.4 %
NYSE:PFG traded down $1.96 on Friday, reaching $79.10. The stock had a trading volume of 894,339 shares, compared to its average volume of 1,122,974. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group has a 12-month low of $65.17 and a 12-month high of $86.79. The company has a 50-day moving average of $81.80 and a 200 day moving average of $77.39. The stock has a market cap of $18.60 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 0.87 and a beta of 1.25.
Principal Financial Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were given a $0.69 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.67. This represents a $2.76 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Monday, March 11th. Principal Financial Group’s dividend payout ratio is presently 112.65%.
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on Principal Financial Group
Principal Financial Group declared that its board has authorized a share repurchase plan on Monday, February 12th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to purchase up to 7.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
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.
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