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Wed, Mar. 11, 3:20 PM
- "“In the case of Brazil, we think that we need to gain more scale,” says Roberto Walker, president of Latin America for Principal Financial Group (PFG +0.9%). "We are always very actively looking for strategic acquisitions, particularly in the case of asset management and mutual funds," he says, adding Mexico as also being a target.
- PFG and MetLife (MET +0.7%) have recently expanded in Chile, and both held events today in Santiago focusing on opportunities to provide their products to the fast-growing middle-class and affluent savers of Latin America - particularly as governments push citizens for privately-managed retirement plans.
- “We’ve grown by acquisitions, and we’ll continue to do that,” says Bill Wheeler, head of the Americas at MetLife. “But we’ve also grown organically.”
Thu, Jan. 29, 4:40 PM
Thu, Jan. 29, 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
Thu, Jan. 29, 4:08 PM
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Thu, Jan. 8, 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
- Source: Press Release
- 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.
- Source: Press Release
Oct. 23, 2014, 5:33 PM
PFG vs. ETF Alternatives
Principal Financial Group offers retirement services, insurance solutions and asset management services. It provides financial products and services through the financial services companies to businesses, individuals, and institutional clients.
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