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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Axa | EU:CS | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.44 | -1.38% | 31.43 | 31.31 | 31.60 | 32.00 | 30.50 | 32.00 | 5,611,738 | 16:40:00 |
By Josh Beckerman
Principal Financial Group Inc. said fourth-quarter operating earnings rose 13% as it posted increases in revenue and assets under management.
The provider of insurance and retirement plans also increased its quarterly dividend to 36 cents, from 34 cents.
Principal has benefited from international expansion, including its $1.51 billion acquisition of Chilean pension manager Cuprum SA in 2013. In November, Principal said it would buy AXA SA's pension business in Hong Kong for about $335 million.
The company said it is "well positioned for continued growth in 2015 and beyond."
The company said operating earnings, which exclude capital gains and losses, rose to $324 million, or $1.09 a share, from $286 million, or 96 cents a share, a year earlier.
Operating revenue rose to $2.96 billion, from $2.74 billion.
Principal Financial's net income available to common shareholders increased to $270.4 million, or 91 cents a share, from $233.4 million, or 78 cents a share.
Analysts polled by Thomson Reuters expected per-share operating profit of $1.04 and revenue of $2.58 billion.
Assets under management were $519.3 billion at the end of the quarter.
Write to Josh Beckerman at josh.beckerman@wsj.com
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