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Principal Financial Group Inc. Reports Operating Results (10-K)
Posted by: gurufocus (IP Logged)
Date: February 15, 2012 11:57AM
Principal Financial Group Inc. (PFG) filed Annual Report for the period ended 2011-12-31. Principal Financial Group Inc. has a market cap of $8 billion; its shares were traded at around $26.7 with a P/E ratio of 9.5 and P/S ratio of 1. The dividend yield of Principal Financial Group Inc. stocks is 2.7%. Principal Financial Group Inc. had an annual average earning growth of 2.5% over the past 10 years.
Highlight of Business Operations:We sell our individual annuity products through our affiliated financial representatives, who accounted for 50%, 43% and 34% of annuity sales for the years ended December 31, 2011, 2010 and 2009, respectively. The remaining sales were made through banks, brokerage general agencies, mutual fund companies, Principal Connection and unaffiliated broker-dealer firms. Affiliated financial representatives continued to be the primary distribution channel of our variable deferred annuities. The majority of overall annuity sales, however, were from non-affiliated distribution channels, as a result of focused efforts to increase fixed annuity sales through non-affiliated distribution channels.
Traditional Life Insurance. Traditional life insurance includes participating whole life, adjustable life products and non-participating term life insurance products. Participating products and non-participating term life insurance products represented 5% and 17%, respectively, of our individual life insurance annualized first year premium sales for the year ended December 31, 2011, and 16% and 37%, respectively, of individual life insurance in force as of December 31, 2011. Adjustable life insurance products provide a guaranteed benefit in return for the payment of a fixed premium and allow the policyholder to set the coverage period, premium and face amount combination. Term insurance products provide a guaranteed death benefit for a specified period of time in return for the payment of a fixed premium. Policyholder dividends are not paid on term insurance.
Stocks Discussed: PFG,