UPDATE 1-Principal Financial posts higher quarterly profit - News

Runway Angels
The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.
Smartphone Guide
Here's a need-to-know guide to nine devices, based on features, price, network and platform.
Wines for the Holidays
Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES

A Healthier & Wealthier You
Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.
The Billionaire BFF's
Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?
The Many Myths of Coca-Cola
Can you tell which statements are true, and which ones are just rumors?

SPECIAL REPORTS

Winterizing Your Portfolio
If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.
Investor's Guide to Real Estate
Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.
Alternative Investing
Stocks and bonds? Sure. But it's a big world out there for investors.

CNBC ON DIGG

UPDATE 1-Principal Financial posts higher quarterly profit

By: AFX | 02 Nov 2009 | 04:37 PM ET

Text Size

NEW YORK, Nov 2 (Reuters) - Principal Financial Group Inc , posted a higher quarterly profit on Monday, helped by the improvement in credit markets. Principal, a provider of retirement plans, life and health insurance, said third-quarter net income was $184.7 million, or 57 cents a share, compared with $90.1 million, or 35 cents a share. Operating earnings, excluding investments and other items, fell to $238.7 million, or 74 cents a share, from $251.2 million, or 96 cents a share, last year, when there were fewer shares outstanding. Analysts on average expected earnings of 65 cents a share, according to Thomson Reuters I/B/E/S. Shares of Principal Financial, which had closed 3 cents lower on Monday at $25.01, were unchanged in after-hours trading following the results. The stock has more than quadrupled since March, when the stock traded as low as $5.41 a share on concerns that life insurers could run short of capital. (Reporting by Lilla Zuill; Editing by Tim Dobbyn) Keywords: PRINCIPALFINANCIAL/ (lilla.zuill@thomsonreuters.com;+1 646 223 6281) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

Tools: