Principal Financial Group (NYSE:PFG – Get Free Report) posted its earnings results on Thursday. The company reported $1.65 earnings per share (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 during the quarter, compared to analyst estimates of $3.68 billion. Principal Financial Group had a net margin of 8.70% and a return on equity of 15.25%. During the same quarter in the prior year, the firm earned $1.48 earnings per share.
Principal Financial Group Price Performance
Shares of NYSE PFG opened at $79.12 on Friday. The firm has a 50-day simple moving average of $81.78 and a 200-day simple moving average of $77.45. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $18.61 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 0.86 and a beta of 1.25. Principal Financial Group has a 52 week low of $65.17 and a 52 week high of $86.79.
Principal Financial Group Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.49%. The ex-dividend date was Monday, March 11th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.67. Principal Financial Group’s payout ratio is 52.67%.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on Principal Financial Group
Principal Financial Group announced that its Board of Directors has approved a share buyback plan on Monday, February 12th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to repurchase up to 7.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are 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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