Principal Financial reported first quarter operating earnings increased 36% to $317.1 million, or $1.06 per diluted share, compared to $223.3 million, or 79 cents EPS from the same quarter in 2013.
Net income increased 65% to $293.7 million, or 95 cents per diluted share, versus the $178.3 million, or 61 cents per diluted share reported in the first quarter 2013.
The company also announced a 12% increase in revenue, of $2,499.3 million, compared to $2,238.3 million from quarter one 2013.
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TheStreet Ratings team rates PRINCIPAL FINANCIAL GRP INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate PRINCIPAL FINANCIAL GRP INC (PFG) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, solid stock price performance and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins."