Principal Financial gains after earnings, dividend boost, new buyback


One stock working today is Principal Financial Group (PFG +3.8%) after reporting a 34% increase in operating earnings on 12% higher revenue in the first quarter, and boosting the quarterly dividend by 14% to $0.32 per share. Alongside the increased dividend is an authorization for up to $200M of buybacks - about 1.4% of the float at current prices.

Other earnings highlights include a 90 basis point increase in the ROE to 13% and $72M of buybacks in Q1. Book value per share, excluding AOCI of $30.81 is up 6% from 2013's end.

CFO Terry Lillis: "Our capital deployment strategy continues to be a clear differentiator and a priority as we further increase shareholder value."

Previously: Principal Financial Group, Inc. beats by $0.14, beats on revenue

Previously: Principal Financial Group Inc declares $0.32 dividend

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