Principal Financial Group provided earnings guidance for 2013. For the rest of 2013, the company expects the normal quarterly run rate of corporate earnings to be a loss of $35 million to $40 million, which includes the additional debt interest expense from the Cuprum acquisition. The company expects ROE at the end of the year to grow additional 50 to 80 basis points from the normalized result. The company announced plans to deploy $329 million of planned $400 million to $600 million of capital for the year.

Principal Financial Group Inc. reported consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total operating revenues of $2,238.3 million against $2,107.4 million a year ago. Operating revenue increased as a result of higher management fees due to growth in AUM aided by positive net cash flows and strong investment performance. Operating earnings before tax, non-controlling interest and preferred stock dividends was $304.4 million against $287.2 million a year ago. Operating earnings were $233.3 million or $0.79 per diluted share against $215.3 million or $0.71 per diluted share a year ago. Operating earnings increased $21.6 million primarily due to growth in average account values. Net income available to common stockholders was $178.3 million or $0.61 per diluted share against $203.9 million or $0.68 per diluted share a year ago. Book value per common share including accumulated other comprehensive income was $31.30 against $29.09 a year ago. Total GAAP revenues were $2,166.7 million against $2,095.9 million a year ago. Net revenue was $118.9 million against $92.2 million a year ago. Net revenue increased 13% in first quarter aided by an increase in account values resulting from positive net cash flows and strong equity markets.

Principal Financial Group Inc. declared second quarter 2013 dividend of $0.23 per share of common stock. The dividend will be payable on June 28, 2013 to shareholders of record as of June 3, 2013.