“We’ve tried to rebalance that and we’ve had some pretty good success,” he said. Zimpleman said analysts had been concerned in recent years by narrowing margins in that business, which are now recovering. It contributed $2.7 billion to the Retirement and Investor Services Accumulation business’ sales of $7.6 billion, the Principal report said.
“The interesting thing for me was in full service accumulation, where there was a big jump in fees and other revenue.”įull service accumulation is the 401(k) retirement business, he said. “It looks like a good quarter,” said Steven Schwartz, an insurance industry analyst at Raymond James & Associates. Principal reported that it will be distributing a 26-cent dividend per common share, payable Dec. That compares with $187.2 million, or 63 cents per share, a year ago. Net income surged 31 percent to $245.7 million, or 82 cents a share, in the third quarter. Principal’s operating revenue declined 12 percent to $2.32billion in the third quarter on a year-over-year basis due to the comparison with what the company described as a single large premium sale in 2012. The Cuprum deal was the sixth acquisition of its type since 2010 for the company, which has allocated at least $2.4billion for strategic acquisitions, common stock dividends and share repurchases since the beginning of 2012. It’s the third-largest employer in the Des Moines region with about 6,100 workers. Note: We do not offer technical support for developing or debugging scripted downloading processes.Principal reported $450.6 billion of assets under management at the end of the second quarter. Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. We reserve the right to block IP addresses that submit excessive requests. To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users. More Information Internet Security Policyīy using this site, you are agreeing to security monitoring and auditing. For more information, contact more information, please see the SEC’s Web Site Privacy and Security Policy.
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