Principal reports third-quarter earnings, declares dividend
Principal Financial Group on Thursday reported third-quarter earnings per share of $1.67, which was in line with analysts’ estimates, Street Insider reported. Net income attributable to Principal was $456.3 million, or $1.59 per share. The company reported assets under management of $667.8 billion, up 2 percent over third quarter 2017. Non-GAAP operating earnings were $481.2 million. Principal’s board also declared a fourth-quarter common stock dividend of 54 cents per share, a 10 percent year-over-year increase. “I’m pleased with our results for the quarter and through nine months,” Principal Chairman, CEO and President Dan Houston said in a release. “Despite some unfavorable macroeconomic conditions and our accelerated investment in digital business solutions, we continued to deliver solid growth in non-GAAP operating earnings.”