DES MOINES, Iowa (AP) _ Principal Financial Group Inc. (PFG) on Thursday reported first-quarter profit of $429.9 million.
The Des Moines, Iowa-based company said it had net income of $1.53 per share. Earnings, adjusted for investment gains, came to $1.43 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.
The financial services company posted revenue of $3.74 billion in the period. Its adjusted revenue was $3.66 billion.
Principal Financial shares have risen 26 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 17 percent. In the final minutes of trading on Thursday, shares hit $55.81, a decrease of roughly 9 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFG at https://www.zacks.com/ap/PFG