Weather

Clear

Wind: SSE

windmph 8 mph

HeatIndex:

More Weather

Tools

Principal Financial Shares Drop to Record Low

By Becky Ogann

Story Created: Nov 19, 2008 at 6:35 PM CDT

Story Updated: Nov 19, 2008 at 6:35 PM CDT

DES MOINES (AP) - Shares of Principal Financial Group Inc. fell to new lows as stock in many life insurers tumbled over debt concerns involving commercial mortgage-backed securities.

Des Moines-based Principal has life and health insurance divisions along with banking, asset management and retirement fund businesses. Its shares fell 18.4 percent on Wednesday, or $2.64 to close at $11.67, a new all-time low.

Shares haven't traded below $21 a share since the company stock began publicly trading in October 2001.

Principal shares have traded as high as $70.85 in the past 52 weeks.

More Good Stuff

This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.