Principal Financial Group, Inc. - PFG STOCK NEWS

Post Advisory Group, a leading asset manager with $17.5 billion in assets under management, has successfully completed a capital raise for the Post CLO Equity Master Fund, LP, exceeding its target by raising $146 million from investors. The Fund, which will focus on equity investments in multiple CLO transactions, saw strong participation from corporate pension funds, family offices, and high net worth individuals, alongside significant co-investment from Post Advisory Group and its employees. This initiative highlights investor confidence in CLO equity as a robust asset class.

Principal Financial Group conducted a survey among over 1,000 small and midsized business owners to assess the significance of employee benefits in recruitment and retention. Results showed that 70% of participants acknowledged benefits' role in attracting talent, while 71% attributed improved retention to offering more benefits. Furthermore, 84% of businesses provide key employee benefits, with a notable increase in the adoption of disability income insurance. Digital platforms are increasingly utilized to navigate employee benefit selections, reflecting a shift in how businesses manage their employee compensation strategies.

Principal Financial Group has achieved a remarkable milestone by ranking seventh on Barron’s 100 Most Sustainable Companies list for 2022, a leap of 59 spots from last year. This recognition highlights the company’s dedication to environmental, social, and governance (ESG) practices. Principal is the highest-ranking financial services firm on the list, following an evaluation of 1,000 public companies. The firm aims to reduce U.S. carbon emissions by 40% by 2035 and achieve net-zero emissions by 2050, reflecting their commitment to a sustainable future.

AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of 'aa' for Principal Life Insurance Company and Principal National Life Insurance Company, the life insurance arms of Principal Financial Group, Inc. (PFG). The ratings reflect Principal's very strong balance sheet strength and strong operating performance. While risk-adjusted capitalization is strong, it is somewhat constrained by dividends to the parent company. Growth in international markets is noted, though political risks may affect future performance.

Principal Financial Group (Nasdaq: PFG) announced its financial guidance for 2022, projecting a strong growth in non-GAAP operating earnings per share (EPS) of 10-13% compared to 2021. The company plans to return $2.5-$3.0 billion to shareholders, with $2.0-$2.3 billion allocated for share repurchases. The guidance reflects anticipated impacts of reinsurance transactions and macroeconomic conditions. The EPS growth is expected to be around 6-8% after accounting for losses from transactions, and the company is positioned to meet its financial targets in 2023.

Principal Financial Group announced two key leadership appointments to strengthen its compliance and investor relations. Noreen Fierro will serve as senior vice president, chief compliance officer, effective February 21, bringing extensive experience from Guardian Life and Prudential. Humphrey Lee joins as vice president, head of investor relations, effective February 28, after a successful tenure at Dowling & Partners. These changes come as the company continues to enhance support for compliance and investor strategies.

Principal Financial Group (Nasdaq: PFG) announced that Dan Houston, chairman, president & CEO, will engage in a fireside chat at the BofA Securities 2022 Insurance Conference on February 16, 2022, at 8:00 a.m. (EST). Houston will discuss the company's strategy to address customers' growing needs for financial security, aiming for long-term growth opportunities. A live audio webcast will be accessible at principal.com/investor.