Principal Financial Group (NASDAQ: PFG) reported Q1 EPS of $1.53, $0.19 better than the analyst estimate of $1.34.

Company Highlights

• First quarter 2021 net income attributable to Principal Financial Group®, Inc. (PFG) of $517.1 million, or $1.87 per diluted share.
• First quarter 2021 non-GAAP operating earnings1 of $423.5 million, or $1.53 per diluted share.
• Record assets under management (AUM) of $820.3 billion
• Company declared second quarter 2021 common stock dividend of $0.61 per share; a 5 cent, or 9%, increase over first quarter 2021

“We delivered strong first quarter results as we continued to provide for the needs of our 34 million customers globally and build momentum for the future," said Dan Houston, chairman, president, and chief executive officer of Principal®. "AUM increased $13.7 billion from the end of 2020 and $189.2 billion over the trailing 12 months, reaching a record $820.3 billion at the end of the first quarter. Our favorable investment performance, diverse and in-demand solution set, and expanding distribution partnerships resulted in increased sales and drove total net cash flow to $8.2 billion for the quarter.”

“Our global, diversified, and integrated approach to financial security continues to differentiate Principal in the marketplace. Strong execution coupled with improving macroeconomic conditions drove growth in first quarter financial results. We’re optimistic about the opportunities that lie ahead as momentum has returned in many of our businesses. We returned $252 million to our shareholders, including $100 million of share repurchases, in the first quarter. Today we announced a 5 cent, or 9%, increase in our second quarter common stock dividend over the dividend paid in first quarter 2021, reinforcing our commitment to creating long-term shareholder value.”

For earnings history and earnings-related data on Principal Financial Group (PFG) click here.