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Principal Financial Group Inc (PFG) SEC Filing 10-Q Quarterly report for the period ending Friday, March 31, 2017

Principal Financial Group Inc

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CIK: 1126328 Ticker: PFG
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              EXHIBIT 99
Release:             On receipt, April 27, 2017
Media Contact:    Erica Jensen, 515-362-0049, jensen.erica@principal.com
Investor Contact:    John Egan, 515-235-9500, egan.john@principal.com

Principal® Announces First Quarter 2017 Results
Company Also Announces Increase to Common Stock Dividend
Company Highlights
• First quarter 2017 net income available to common stockholders of $348.9 million, or $1.19 per diluted share
• First quarter 2017 operating earnings1 of $370.5 million, or $1.27 per diluted share
• Record assets under management (AUM) of $619.7 billion, up 13 percent on a trailing twelve month basis, reflecting $19.8 billion in net cash flows and strong investment performance
• Company declares second quarter 2017 common stock dividend of $0.46 per share; an 18 percent increase over the second quarter 2016 common stock dividend
(Des Moines, Iowa) - Principal Financial Group® (NYSE: PFG) today announced results for first quarter 2017.
•
Net income available to common stockholders for first quarter 2017 of $348.9 million, compared to $368.0 million for first quarter 2016. Net income per diluted share of $1.19 for first quarter 2017 was down 5 percent, compared to $1.25 in prior year quarter, which had favorable derivative marks driven by interest rate volatility.

•
Operating earnings increased 29 percent to $370.5 million for first quarter 2017, compared to $286.3 million for first quarter 2016. Operating earnings per diluted share (EPS) of $1.27 for first quarter 2017 was up 31 percent, compared to $0.97 for first quarter 2016.

•
Quarterly common stock dividend of $0.46 per share for second quarter 2017 was authorized by the company’s Board of Directors, bringing the trailing twelve month dividend to $1.75 per share, a 14 percent increase compared to the prior year trailing twelve month period. The dividend will be payable on June 30, 2017, to shareholders of record as of June 5, 2017.

“First quarter was a good start to the year for Principal, as we continued to deliver solid results and build additional momentum. We grew AUM by $28 billion over the three month period and by $72 billion over the trailing twelve months, reaching a record $620 billion at quarter end,” said Dan Houston, chairman, president and CEO. “This strong growth reflects competitive long-term investment performance; and ongoing investments to enhance our solution set, expand our distribution reach, improve the customer experience, and deliver better outcomes for clients overall.”

“Strong execution across all of our businesses -- Fee, Spread, and Risk -- coupled with improving macroeconomic conditions and opportunistic share repurchase, helped drive a 31 percent increase in EPS compared to the year ago quarter,” added Deanna Strable, chief financial officer. “We continue to benefit from our global, diversified and integrated model - by business, geography and asset class - and view this as a differentiator. Our model allows us to generate and deploy capital in multiple ways that create long-term value for our shareholders and advance our leadership in retirement, asset management and protection.”

____________________________________ 
1 Use of non-GAAP financial measures is discussed in this release after segment results. Operating Earnings for total company is after tax.



The following information was filed by Principal Financial Group Inc (PFG) on Thursday, April 27, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Principal Financial Group Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Financial Position
Consolidated Statements Of Financial Position (parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information (tables)
Condensed Consolidating Financial Information - Guarantor, Statements Of Cash Flows (details)
Condensed Consolidating Financial Information - Guarantor, Statements Of Financial Position (details)
Condensed Consolidating Financial Information - Guarantor, Statements Of Operations (details)
Condensed Consolidating Financial Information - Shelf Registration Guarantor, Statements Of Cash Flows (details)
Condensed Consolidating Financial Information - Shelf Registration Guarantor, Statements Of Financial Position (details)
Condensed Consolidating Financial Information - Shelf Registration Guarantor, Statements Of Operations (details)
Contingencies, Guarantees And Indemnifications
Contingencies, Guarantees And Indemnifications (details)
Derivative Financial Instruments
Derivative Financial Instruments (tables)
Derivative Financial Instruments - Cash Flow Hedges (details)
Derivative Financial Instruments - Credit Derivatives Sold (details)
Derivative Financial Instruments - Derivatives Not Designated As Hedging Instruments (details)
Derivative Financial Instruments - Fair Value Hedges (details)
Derivative Financial Instruments - Fair Value Of Derivatives (details)
Derivative Financial Instruments - Fixed Maturities With Embedded Credit Derivatives (details)
Derivative Financial Instruments - Notional Amounts And Credit Exposure (details)
Earnings Per Common Share
Earnings Per Common Share (details)
Earnings Per Common Share (tables)
Employee And Agent Benefits
Employee And Agent Benefits (details)
Employee And Agent Benefits (tables)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Assets And Liabilities Measured At Fair Value On Nonrecurring Basis (details)
Fair Value Measurements - Assets And Liabilities Measured At Fair Value On Recurring Basis (details)
Fair Value Measurements - Changes In Level 3 Fair Value Measurements (details)
Fair Value Measurements - Fair Value Option On Consolidated Vies And Equity Method Investments (details)
Fair Value Measurements - Financial Instruments Not Reported At Fair Value (details)
Fair Value Measurements - Quantitative Information For Level 3 Measurements (details)
Fair Value Measurements - Transfers (details)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Insurance Liabilities
Insurance Liabilities (details)
Insurance Liabilities (tables)
Investments
Investments (tables)
Investments - Accumulated Credit Losses For Fixed Maturities With Bifurcated Credit Losses (details)
Investments - Amortization By Expected Maturity (details)
Investments - Balance Sheet Offsetting, Assets (details)
Investments - Balance Sheet Offsetting, Liabilities (details)
Investments - Fixed Maturities And Equity Securities (details)
Investments - Gross Unrealized Losses For Fixed Maturities And Equity Securities (details)
Investments - Impaired Mortgage Loans (details)
Investments - Mortgage Loan Credit Monitoring (details)
Investments - Mortgage Loan Modifications (details)
Investments - Mortgage Loan Valuation Allowance (details)
Investments - Mortgage Loans (details)
Investments - Net Realized Capital Gains And Losses (details)
Investments - Net Unrealized Gains And Losses On Available-for-sale Securities And Derivative Instruments (details)
Investments - Non-accrual Mortgage Loans (details)
Investments - Other-than-temporary Impairments (details)
Investments - Securities Posted As Collateral (details)
Nature Of Operations And Significant Accounting Policies
Nature Of Operations And Significant Accounting Policies (policies)
Nature Of Operations And Significant Accounting Policies - Derivatives (details)
Nature Of Operations And Significant Accounting Policies - Recent Accounting Pronouncements (details)
Nature Of Operations And Significant Accounting Policies - Separate Accounts (details)
Segment Information
Segment Information (tables)
Segment Information - Net Realized Capital Gains (losses) (details)
Segment Information - Reconciliation Of Segment Assets To Consolidated (details)
Segment Information - Reconciliation Of Segment Operating Revenues And Earnings To Consolidated (details)
Stock-based Compensation Plans
Stock-based Compensation Plans (tables)
Stock-based Compensation Plans - Nonqualified Stock Options (details)
Stock-based Compensation Plans - Performance Share Awards And Restricted Stock Units (details)
Stock-based Compensation Plans - Stock-based Awards (details)
Stockholders' Equity
Stockholders' Equity (tables)
Stockholders' Equity - Aoci And Noncontrolling Interest (details)
Stockholders' Equity - Other Comprehensive Income (loss) (details)
Stockholders' Equity - Reconciliation Of Outstanding Shares (details)
Variable Interest Entities
Variable Interest Entities (tables)
Variable Interest Entities - Consolidated Vies (details)
Variable Interest Entities - Unconsolidated Vies (details)
Ticker: PFG
CIK: 1126328
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-17-029273
Submitted to the SEC: Wed May 03 2017 11:39:12 AM EST
Accepted by the SEC: Wed May 03 2017
Period: Friday, March 31, 2017
Industry: Accident And Health Insurance

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