On Friday, Travelers Companies Inc (NYSE:TRV)’s shares declined -0.66% to $99.47.
Travelers Companies Inc (TRV) will review its second quarter 2015 results at 9 a.m. ET on Tuesday, July 21, following the release of results earlier that morning.
The Travelers Companies, Inc., through its auxiliaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the Unites states and internationally. It operates in three segments: Business and International Insurance; Bond & Specialty Insurance; and Personal Insurance.
Capstone Turbine Corporation (NASDAQ:CPST)’s shares dropped -2.96% to $0.570.
Capstone Turbine Corporation (CPST) declared that it received two orders for C1000 microturbines for energy efficiency projects in New York City, New York. A single C1000 will be installed at a New York University research and learning facility while a second C1000 will replace the existing generators at the River Park Towers residential complex in the Bronx.
RSP Systems, Capstone’s distributor for New York and Connecticut, secured both orders, which are to be commissioned in early 2016.
Capstone Turbine Corporation develops, manufactures, markets, and services microturbine technology solutions for use in stationary distributed power generation applications worldwide. The company offers microturbine units, subassemblies, components, and various accessories for applications, counting cogeneration comprising combined heat and power (CHP) and integrated CHP, in addition to combined cooling, heat, and power; and renewable energy, natural resources, and critical power supply. Its microturbines are also used as battery charging generators for hybrid electric vehicle applications.
At the end of Friday’s trade, Principal Financial Group Inc (NYSE:PFG)‘s shares dipped -0.44% to $52.63.
Principal Financial Group Inc (PFG) continues to benefit from fee-based businesses. Operating net income of $1.09 per share in the first quarter outperformed the Zacks Consensus Estimate and improved year over year. The quarter marked the second-highest quarterly earnings per share. With respect to earnings, this Zacks Rank #3 (Hold) company recorded a positive surprise in each of the last four quarters, with an average beat of 6.95%.
While a sturdy investment performance and distribution relationships drove sales, asset under administration (AUM) were a record $530.3 billion.
Deeper focus on fee-based revenue sources (anticipates 70% coming from it by 2018) has been assisting the company to earn steadily, besides limiting exposure to the interest rate environment. Riding on this strength, the company plans $0.8–$1 billion in capital deployment in 2015.
Principal Financial’s inorganic growth story seems attractive with the prudent acquisitions it makes. Its latest acquisitions of AXA’s Mandatory Provident Fund (MPF) and the Occupational Retirement Schemes Ordinance pension business in Hong Kong are predictable to close in the second half of 2015. The buyout will more than double the AUM of its Hong Kong pension business to over US $6 billion and will be ranked as the fifth largest MPF provider in that market. Since being hit by the financial crisis, it has made nine acquisitions, adding fee-based businesses and expanding its global footprint.
Principal Financial Group, Inc. provides retirement, asset administration, and insurance products and services. It operates through Retirement and Investor Services, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
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