This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Principal Financial Group, Inc. Announces Third Quarter 2012 Results

Segment assets under management were $206.4 billion as of Sept. 30, 2012, compared to $168.6 billion as of Sept. 30, 2011, reflecting asset appreciation and strong net cash flows from Full Service Accumulation and Principal Funds.

Principal Global InvestorsSegment operating earnings for third quarter 2012 were $20.6 million, compared to $19.1 million in the prior year quarter, primarily due to an increase in assets under management offset by additional investments to support growth.

Operating revenues for third quarter were $144.0 million, compared to $132.9 million for the same period in 2011.

Unaffiliated assets under management were a record $97.8 billion as of Sept. 30, 2012, compared to $77.7 billion as of Sept. 30, 2011, as a result of improved net cash flows and investment performance.

Principal InternationalSegment operating earnings were $29.5 million in third quarter 2012, compared to $35.3 million in the prior year quarter. Third quarter 2012 results were dampened by $11.5 million due to the actuarial assumption review of lapse rate assumptions in Mexico. Combined net revenue growth was flat compared to the year ago quarter, though foreign currency headwinds continue to mask an underlying 18 percent growth.

Operating revenues were $203.8 million for third quarter 2012, compared to $220.1 million for the same period last year, down due to lower inflation in Chile and the strengthening of the U.S. dollar.

Segment assets under management were a record $66.2 billion as of Sept. 30, 2012, compared to $54.5 billion as of Sept. 30, 2011, despite currency headwinds.

U.S. Insurance SolutionsSegment operating losses for third quarter 2012 were $21.6 million, compared to operating earnings of $49.1 million for the same period in 2011. Individual Life losses were $37.9 million in the third quarter compared to earnings of $28.2 million in third quarter 2011 primarily reflecting a $62.9 million charge from the review of long-term interest rate assumptions and other model enhancements.

Specialty Benefits earnings were $16.3 million in third quarter 2012, down from $20.9 million in the same period a year ago primarily due to higher disability claims in the quarter due to normal volatility and a $1.9 million charge resulting from a 75 basis point reduction in the disability claims discount rate from the year ago quarter.

Stock quotes in this article: PFG 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,424.85 +162.29 1.00%
S&P 500 1,862.31 +19.33 1.05%
NASDAQ 4,086.2250 +52.0640 1.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs