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Jan. 29, 2015, 4:19 PM
- Q4 operating earnings of $324M or $1.09 per share vs. $286M and $0.96 one year ago. Quarterly dividend is boosted by 6% to $0.36 per share.
- Retirement and investor Services - Guaranteed operating earnings of $26.9M up 4% Y/Y. Principal Global Investors operating earnings of $36.4M up 21%. Principal International operating earnings of $62.9M up 2%.
- Individual Life operating earnings of $27.6M down 15%, mostly thanks to favorable claims in the year-ago quarter. Premium and fees of $234.3M up 4%.
- Specialty Benefits operating earnings of $28M up 3%, with premium and fees of $406.3M up 6%.
- Conference call tomorrow at 10 ET
- Previously: Principal Financial Group beats by $0.05, beats on revenue (Jan. 29)
- PFG +1.5% after hours
Jan. 29, 2015, 4:08 PM
- Principal Financial Group (NYSE:PFG): Q4 EPS of $1.09 beats by $0.05.
- Revenue of $2.96B (+8.0% Y/Y) beats by $380M.
Jan. 28, 2015, 5:35 PM
- ABAX, ALGN, AMZN, AVNW, BCR, BIIB, BRCM, BXP, CB, COHR, CORT, CPHD, CPSI, CTCT, DECK, EFII, ELX, ELY, EMN, EPAY, FICO, GDOT, GIMO, GOOG, HA, HBI, HLIT, INVN, ISBC, IXYS, JDSU, LEG, MCHP, MITK, MTW, N, NATI, NEU, NFG, NGVC, PCCC, PFG, PFPT, PKI, PMCS, QLGC, RHI, RVBD, SFG, SWI, SYNA, TFSL, TUES, UIS, V, VR, WERN
Jan. 8, 2015, 9:58 AM
- MetLife (MET +0.9%) had been the team's Outperform pick in the sector, but it's been downgraded to Neutral.
- Upgraded to Outperform from Neutral are Lincoln Financial (LNC +2%) and Principal Financial Group (PFG +2.1%), with the team suggesting those two are a little less reliant on higher rates for improved earnings.
Dec. 8, 2014, 8:25 AM
- Overall net revenue growth of 4-6% is expected for 2015, with pre-tax return on net revenue of 30-33%.
- Individual life premium and fees growth rate of 3-5%, with pretax operating margin of 13-16%. Low interest rates will continue to pressure margin expansion.
- A conference call to discuss is set for 9 ET.
- Presentation slides
- PFG flat premarket
Nov. 26, 2014, 9:15 AM
- Daniel Houston has been named president and COO of Principal Financial Group (NYSE:PFG), effective immediately. Larry Zimpleman continues as chairman and CEO.
- Houston has been with Principal for more than 30 years, and president of retirement, insurance, and financial services since 2009.
Oct. 23, 2014, 5:33 PM
- Principal Financial Group (NYSE:PFG) declares $0.34/share quarterly dividend, in line with previous.
- Forward yield 2.69%
- Payable Dec. 26; for shareholders of record Dec. 8; ex-div Dec. 4.
Oct. 23, 2014, 4:25 PM
- Operating earnings of $353.7M up 31% Y/Y. Operating EPS of $1.19 up 32%. Results boosted by $39M from Q3 actuarial assumption review and model changes.
- Operating revenues of $2.553B up 10%.
- Total AUM of $513.5B up 10% Y/Y. Net cash flow during Q of $3.7B. ROE (excl. AOCI) of 14.1% up 220 basis points.
- Repurchased 1.4M shares of stock at average price of $51.94.
- Conference call tomorrow at 10 ET
- Previously: Principal Financial Group beats by $0.13, beats on revenue
- PFG flat AH
Oct. 23, 2014, 4:11 PM
- Principal Financial Group (NYSE:PFG): Q3 EPS of $1.19 beats by $0.13.
- Revenue of $2.55B (+9.9% Y/Y) beats by $10M.
Oct. 22, 2014, 5:35 PM
- ADES, ALGN, ALTR, AMZN, BAS, BJRI, BLDR, BMRN, CB, CBI, CERN, CLMS, CLNE, CNMD, CPWR, CTCT, CYN, DECK, DLB, DV, ECHO, ELY, EW, FET, FII, FLS, FSL, GHL, GIMO, HBHC, HUBG, HWAY, IM, INFA, JNPR, KLAC, LOGM, LSCC, MSFT, MTSN, MXIM, MXWL, N, NCR, NTGR, OLN, P, PACB, PCCC, PDFS, PEB, PFG, PFPT, POL, QLIK, RMD, RUBI, RVBD, SHOR, SIVB, SPNC, SRCL, SWFT, SWN, SYNA, VMI, VRSN, WOOF, WRB, WRE, WRI
Oct. 20, 2014, 10:53 AM
- There are no details available, but the common thread for all the downgraded names were hopes of higher interest rates bringing higher earnings. Over the past few weeks, however, expectations of a mid-year 2015 rate hike have been pushed back closer to the end of the year, and the 10-year Treasury yield has fallen all the way to 2.19%.
- Community banks downgraded: BancFirst (BANF -0.2%) and People's United Financial (PBCT +1%) to Market Perform from Outperform, and Preferred Bank of L.A. (PFBC -1.8%) to Outperform from Strong Buy.
- Life insurers downgraded: Primerica (PRI -0.4%) and Principal Financial Group (PFG -1%) to Market Perform from Outperform.
Sep. 30, 2014, 4:25 PM
- Principal Financial Group's (NYSE:PFG) Principal Global Investors agrees to lift its stake in Stamford-basd equity management firm Columbus Circle Investors to 95% from 70%.
- Principal Global first acquired its stake in 2005, and AUM have since more than quadrupled to $17.5B as of June 30.
- The investment has "greatly exceeded" expectations for returns in the mid-teens, says Jim McCaughan, CEO of Principal Global.
Sep. 12, 2014, 12:19 PM
- Principal Real Estate Investors - part of PFG - along with Macquarie Group announce the creation of Principal Commercial Capital, a platform focused on originating and securitizing commercial mortgages.
- Macquarie will provide funding and capital markets expertise, while Principal will source, underwrite, close, and service the loans. Principal has been in the business for awhile, and Macquarie is eager to expand its presence in U.S. commercial real estate, and recently hired a team of CMBS veterans.
Jul. 25, 2014, 10:37 AM
- Q2 operating earnings of $323.1M or $1.08 per share vs. $271.4M and $0.91 one year ago. Dividend of $0.34 per share is up 6% from Q1.
- ROE of 13.3% up 290 basis points from one year ago.
- 1.3M shares repurchased during Q2 at average price of $47.08 each. Book value per share, excluding AOCI, of $31.52 up 6%. Capital deployment is expected to be at the high end of the previously stated $500M-$700M range.
- Presentation slides
- Previously: Principal Financial Group beats by $0.02, beats on revenue
- PFG flat on the session
Jul. 24, 2014, 5:46 PM
- Principal Financial Group (NYSE:PFG) declares $0.34/share quarterly dividend. 6% increase from prior dividend of $0.32.
- Forward yield 2.62%
- Payable Sept. 26; for shareholders of record Sept. 8; ex-div Sept. 4.
Jul. 24, 2014, 4:28 PM
- Principal Financial Group (NYSE:PFG): Q2 EPS of $1.03 beats by $0.02.
- Revenue of $2.54B (+10.0% Y/Y) beats by $30M.
Principal Financial Group Inc offers businesses, individuals and institutional client's financial products and services, including retirement, asset management and insurance through its financial services companies.
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