Upcoming AWS Coverage on MetLife Post-Earnings Results

LONDON, UK / ACCESSWIRE / February 9, 2017 / Active Wall St. announces its post-earnings coverage on Principal Financial Group, Inc. (NYSE: PFG). The Company posted its financial results for the and fourth quarter fiscal 2016 (Q4 FY16) and full year 2016 (FY16) on January 30, 2017. The Des Moines, Iowa-based Company's quarterly operating earnings per diluted share surged 25% y-o-y, topping analysts' consensus estimates. Register with us now for your free membership at:

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One of Principal Financial Group's competitors within the Life Insurance space, MetLife, Inc. (NYSE: MET), reported on February 01, 2017, its results for Q4 and full year 2016. AWS will be initiating a research report on MetLife in the coming days.

Today, AWS is promoting its earnings coverage on PFG; touching on MET. Get our free coverage by signing up to:

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Earnings Reviewed

In Q4 FY16, Principal Financial Group's total operating revenues rose to $3.59 billion from $2.89 billion in the prior year's comparable quarter. In the reported quarter, the Company's total expenses increased to $3.10 billion from $2.50 billion in Q4 FY15.

For Q4 FY16, the financial services Company reported net income available to common shareholders of $318.0 million, or $1.09 per diluted share, compared to $253.6 million, or $0.86 per diluted share, in Q4 FY15. Furthermore, operating earnings rose to a record $372.0 million, or $1.27 per diluted share, in Q4 FY16 from $303.2 million, or $1.02 per diluted share, in Q4 FY15. Wall Street had expected the Company to report operating earnings of $1.15 per diluted share in Q4 FY16.

In full year FY16, Principal Financial Group's total net revenues increase to $12.38 billion from $12.12 billion in FY15. The Company's net income available to common shareholders rose to a record $1.32 billion, or $4.50 per diluted share, in FY16 from $1.21 billion, or $4.06 per diluted share, in the previous year. Furthermore, the Company's operating earnings in FY16 was a record $1.33 billion, or $4.55 per diluted share, compared to $1.27 billion, or $4.26 per diluted share, in FY15.

Performance Metrics

At the end of Q4 FY16, Principal Financial Group' assets under management were $591.6 billion compared to $527.4 billion in the prior year's comparable quarter. The Company reported book value per common share of $35.55 as on December 31, 2016, compared to $31.95 as on December 31, 2015. Furthermore, book value per common share excluding accumulated other comprehensive income other than foreign currency translation adjustment increased to $34.09 as on December 31, 2016, from $31.04 as on December 31, 2015.

Segment Performance

During the quarter ended on December 31, 2016, Retirement and Income Solutions segment's total operating revenues came in at $1.97 billion compared to $1.38 billion reported in the year ago same quarter. During the reported quarter, the segment's pre-tax operating earnings were $211.5 million versus $186.8 million in the previous year's same quarter.

Principal Global Investors segment's total operating revenues for Q4 FY16 came in at $380.1 million, which came in above the $347.3 million reported in the year ago corresponding quarter. The segment's pre-tax operating earnings for Q4 FY16 stood at $133.7 million versus $102.0 million in Q4 FY15.

During Q4 FY16, Principal International segment's total operating revenues was marginally down to $312.3 million from $316.0 million in Q4 FY15. In the reported quarter, the segment's pre-tax operating earnings were $66.0 million compared to $67.3 million in the prior year's same quarter.

Principal Financial Group's US Insurance Solutions segment reported total operating revenues of $928.0 million in Q4 FY16 compared to $867.9 million in Q4 FY15. Additionally, the segment's pre-tax operating earnings for Q4 FY16 came in at $106.9 million versus $86.6 million in Q4 FY15.

In Q4 FY16, the Corporate segment's total operating revenues were $5.3 million compared to revenue outflow of $18.3 million in Q4 FY15. Furthermore, the segment reported pre-tax operating loss of $53.3 million in Q4 FY16 compared to pre-tax operating loss of $54.8 million in the last year's comparable quarter.

Dividend and Buyback

In its earnings press release, Principal Financial Group announced that on January 17, 2017, its Board of Directors declared first quarter FY17 cash dividend of $0.45 per share, which is payable March 31, 2017, to shareholders of record on March 06, 2017.

The Company further informed Wall Street that it had repurchased 6.2 million shares of common stock in FY16 for $257 million.

Stock Performance

On Wednesday, February 08, 2017, the stock closed the trading session at $59.84, rising slightly by 0.20% from its previous closing price of $59.72. A total volume of 1.40 million shares have exchanged hands. Principal Financial Group's stock price advanced 10.99% in the last three months, 27.45% in the past six months, and 72.12% in the previous twelve months. The Company's shares are trading at a PE ratio of 14.03 and have a dividend yield of 3.01%.

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SOURCE: Active Wall Street