Principal Financial Group Inc (NAS:PFG)
$ 82.22 0.8 (0.98%) Market Cap: 19.27 Bil Enterprise Value: 19.08 Bil PE Ratio: 15.48 PB Ratio: 1.73 GF Score: 78/100
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Q1 2019 Principal Financial Group Inc Earnings Call Transcript

Apr 26, 2019 / 02:00PM GMT
Release Date Price: $57.38 (+2.87%)
Operator

Good morning, and welcome to the Principal Financial Group First Quarter 2019 Financial Results Conference Call. (Operator Instructions)

I would now like to turn the conference call over to John Egan, Vice President of Investor Relations.

John Egan
Principal Financial Group, Inc. - VP of IR

Thank you, and good morning. Welcome to the Principal Financial Group's first quarter conference call. As always, materials related to today's call are available on our website at principal.com/investor.

I'll start by mentioning 2 changes to our first quarter financial supplement. As a reminder, effective January 1, 2019, we changed how we allocate certain expenses and net investment income among the business units. These changes were evaluated in conjunction with the enterprise-wide global financial process improvement project. Results for prior periods have been recast so that they are on a comparable basis. There was no impact to total company financial results.

Also effective January 1, 2019, Claritas, our investment management company in

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