Principal Financial Group, Inc. - PFG STOCK NEWS

Principal Financial Group has been recognized as the No. 3 Best Place to Work in Money Management by Pensions & Investments for 2021, marking its 10th consecutive year on this list. This achievement places Principal Global Investors among only five firms to receive this recognition since the program began. With approximately $577.4 billion in assets under management, Principal Global Investors ranks as the 26th largest institutional asset manager globally.

The Principal Financial Well-Being Index indicates SMBs are increasingly hiring, with 42% reporting staff increases compared to 19% in November 2020. Financial health is improving, with 67% of businesses noting advancements, up from 44% last year. However, uncertainties remain, as only 46% of smaller businesses feel confident about their financial outlook for the next 12 months. Rising employee turnover is a challenge, with 67% of smaller business employees voluntarily leaving. Additionally, childcare support is now prioritized as a key benefit to attract talent.

Principal announced that its private equity and European core property strategies received 4-star ratings from GRESB for 2021, ranking in the top 40% of global participants. This marks the sixth consecutive year for the core strategies to achieve this rating, showcasing a commitment to ESG integration in investment practices. Of the eight submitted strategies, all outperformed peer averages in management categories. The GRESB benchmark saw a 24% growth in participation, covering $5.7 trillion in AUM, highlighting increasing investor interest in ESG standards.

In 2022, non-profit organizations are increasingly prioritizing 403(b) retirement plans focused on guaranteed income, with over double the plan sponsors emphasizing this compared to the previous year, per a survey by the Plan Sponsor Council of America. The survey of 139 organizations revealed a 45% rise in financial wellness tool prioritization. While 60% of sponsors aim to maintain existing plans, 89.1% have not changed employer contributions, demonstrating resilience amid financial uncertainties. Virtual education methods are also on the rise, suggesting lasting shifts in employee education strategies.

Principal Financial Group (NASDAQ: PFG) announced that Deanna Strable, CFO, will participate in a fireside chat at the Goldman Sachs 2021 U.S. Financial Services Conference on December 8, 2021, at 3:00 p.m. EST. She will discuss the company's growth strategies, capital management, and commitment to long-term shareholder value. The chat will be available via audio webcast at principal.com/investor. Principal has over 18,000 employees and serves over 49 million customers worldwide.

Principal Global Investors' direct lending business, Principal Alternative Credit, has served as the sole lead arranger for senior secured credit facilities for Versant Diagnostics, part of Iron Path Capital. This financing supports Versant's growth as a major independent pathology group in the Midwest. Principal's commitment indicates confidence in Versant's management and acquisition strategy. Principal Alternative Credit targets middle-market companies with strong EBITDA, focusing on transactions between $25 million to $200 million.

Principal Financial Group has joined the U.N. Global Compact CFO Taskforce to enhance its sustainability strategies. The taskforce aims to mobilize substantial investment capital towards the U.N. Sustainable Development Goals. Key executives, including CFO Deanna Strable, will contribute to promoting responsible investment practices. Principal's commitment includes a 40% reduction in U.S. carbon emissions by 2035 and a goal of net-zero emissions by 2050. The company previously issued a $600 million sustainability bond to support green initiatives.

Principal Financial Group has enhanced its retirement app by adding a Spanish-language option to better serve Hispanic workers facing a retirement savings gap. This mobile app facilitates access to crucial retirement management resources, addressing cultural and language barriers. With mobile app usage among retirement plan participants rising from 21% in 2019 to 37% in 2021, the bilingual app aims to improve user engagement and retirement planning efficiency. The app allows users to check account balances, make contributions, and receive bilingual support.