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Principal Financial Group, Inc. - PFG STOCK NEWS

Welcome to our dedicated page for Principal Financial Group news (Ticker: PFG), a resource for investors and traders seeking the latest updates and insights on Principal Financial Group stock.

Principal Financial Group, Inc. (PFG) is a global leader in investment management, offering a broad range of financial products and services to individuals, businesses, and institutional clients. Headquartered in Des Moines, Iowa, Principal is dedicated to enhancing the financial well-being of its clients through innovative retirement, insurance, and asset management solutions.

Core Business Segments:

  • Retirement and Income Solutions: Principal provides comprehensive retirement planning services, helping clients secure their financial future through personalized retirement strategies.
  • Principal Global Investors: This segment manages assets across a range of sectors, providing investment expertise and solutions to institutional clients worldwide.
  • Principal International: Operating outside the U.S., this segment delivers financial services tailored to meet the diverse needs of global clients.
  • United States Insurance Solutions: Principal offers a variety of insurance products, including life insurance, annuities, and disability insurance, aimed at protecting clients' financial health and stability.

Principal Financial Group's commitment to innovation and client-centric solutions is reflected in its recent achievements and ongoing projects. The company continuously adapts to the evolving financial landscape, ensuring it meets the needs of clients of all income levels and portfolio sizes. With a strong emphasis on diversity, equity, and inclusion, Principal is an affirmative action and equal opportunity employer, actively participating in the E-Verify program.

Financially, Principal generates substantial revenue from premiums, underlining its robust market position. As the company expands its global footprint, it remains focused on delivering real-life solutions that drive financial progress for its clients.

For the latest updates on Principal Financial Group's performance and developments, visit their official website or follow their news releases.

Rhea-AI Summary

Principal Financial Group (PFG) reported a strong third quarter 2021 with net income of $359.9 million or $1.32 per diluted share, up from $236.0 million in Q3 2020. Non-GAAP operating earnings reached $458.4 million with a diluted share of $1.69. The company declared a fourth-quarter dividend of $0.64 per share, a 14% increase year-over-year. Total assets under management hit $981.0 billion. Capital returned to shareholders totaled $371.4 million, including $203.2 million in share repurchases. The company aims to return $3 billion to shareholders by 2022, excluding proceeds from strategic transactions.

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Principal Financial Group (Nasdaq: PFG) is set to release its third quarter 2021 financial results on October 26, shortly after U.S. markets close. A conference call will follow on October 27 at 10 a.m. ET, featuring CEO Dan Houston and CFO Deanna Strable. The call will cover the financial results and include a Q&A session with senior management. Additional details and materials will be available on principal.com/investor.

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The Principal Financial Group's annual study reveals that amid the pandemic, 54% of top retirement savers increased their savings, with 91% maintaining an emergency fund. The majority of super savers are focusing on long-term sacrifices rather than short-term cuts, primarily driving older vehicles (44%) and avoiding travel (38%). Most of these savers (95%) invest in workplace retirement plans, with significant interest in guaranteed income options. The study involved 1,408 participants aged 19-56 and highlights evolving financial behavior towards retirement amidst COVID-19.

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Principal Financial Group announced the appointment of Barbara Wenig as executive director of global operations for Principal Global Investors. This newly created role aims to enhance the firm’s strategic initiatives and expand its global platforms. With nearly 25 years of experience, Wenig will oversee operations, including international funds and ETF products. Previously at Neuberger Berman, she has a strong background in developing global operating models. Principal Global Investors manages approximately $576.8 billion in assets.

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Principal Financial Group announced its focus on employee well-being, indicating over 90% of surveyed businesses plan to enhance at least one employee benefit within the next year. A significant 82% expect financial improvements over the next 12 months, with 63% fully operational and hiring. Key benefits trending include telehealth (42%) and mental health services (38%). While 70% of employers value financial wellness programs, only 62% currently offer them. Additionally, retirement plans are recognized as crucial in talent retention, with over 80% seeing their importance.

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Principal Financial Group announced key senior management promotions within its corporate finance and U.S. Insurance Solutions (USIS). Joel Pitz becomes senior vice president and controller, effective November 15, responsible for corporate accounting and financial reporting. Nate Schelhaas is named senior vice president of protection solutions, effective October 15, overseeing life insurance and product development. John Egan will transition to chief financial officer for Principal International while continuing as vice president of Investor Relations.

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Principal Financial Group has successfully integrated Wells Fargo's Institutional Retirement and Trust business, enhancing its capabilities and market position in retirement services. This acquisition, completed in July 2019, added 4.3 million eligible participants and approximately $150 billion in account value. Principal now serves over 10 million participants, managing over $537 billion. Key improvements include enhanced retirement offerings, increased savings rates averaging 9%, and expanded client services, positioning Principal among the top in multiple retirement plan categories.

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Principal Financial Group (Nasdaq: PFG) reported a net income of $361.8 million for Q2 2021, down from $398.3 million in Q2 2020. Net income per diluted share was $1.32, compared to $1.45 last year. Non-GAAP operating earnings increased to $467.3 million, up from $402.7 million, reflecting strong performance in asset management and a successful retirement business integration. The company authorized a $0.63 dividend for Q3 2021, marking a 6% increase year-over-year. Strong cash flow of $2.1 billion and an estimated statutory RBC ratio of 421% were also reported.

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FAQ

What is the current stock price of Principal Financial Group (PFG)?

The current stock price of Principal Financial Group (PFG) is $77.3 as of December 20, 2024.

What is the market cap of Principal Financial Group (PFG)?

The market cap of Principal Financial Group (PFG) is approximately 17.7B.

What services does Principal Financial Group offer?

Principal Financial Group provides retirement planning, insurance, and asset management services to individuals, businesses, and institutional clients.

Where is Principal Financial Group headquartered?

Principal Financial Group is headquartered in Des Moines, Iowa.

What are the main business segments of Principal Financial Group?

The main business segments are Retirement and Income Solutions, Principal Global Investors, Principal International, and United States Insurance Solutions.

How does Principal Financial Group generate revenue?

Principal Financial Group generates substantial revenue from premiums, particularly through its insurance solutions.

Is Principal Financial Group an equal opportunity employer?

Yes, Principal Financial Group is an affirmative action and equal opportunity employer, actively participating in the E-Verify program.

What is the focus of Principal Global Investors?

Principal Global Investors focuses on managing assets across various sectors, providing investment expertise and solutions to institutional clients worldwide.

Does Principal Financial Group operate internationally?

Yes, Principal Financial Group operates internationally through its Principal International segment, offering tailored financial services to global clients.

What types of insurance products does Principal offer?

Principal offers life insurance, annuities, and disability insurance to protect clients' financial well-being.

How can I stay updated with the latest news from Principal Financial Group?

Visit the official website of Principal Financial Group or follow their news releases for the latest updates.

Who can benefit from Principal Financial Group's services?

Clients of all income levels and portfolio sizes can benefit from Principal Financial Group's tailored financial solutions.

Principal Financial Group, Inc.

Nasdaq:PFG

PFG Rankings

PFG Stock Data

17.67B
226.12M
1.03%
73.09%
1.27%
Asset Management
Accident & Health Insurance
Link
United States of America
DES MOINES