Principal Financial Group, Inc. - PFG STOCK NEWS

Principal Asset Management has achieved high ratings from the Global Real Estate Sustainability Benchmark (GRESB) for 2024, with two European real estate core property strategies receiving 5-star ratings and its U.S. real estate core strategy earning a 4-star rating. The U.S. core strategy has maintained a 4-star rating for nine consecutive years. Additionally, 13 strategies received green-star ratings. The Principal Green Property strategy scored 93/100 in its first GRESB submission, ranking 2nd among 23 entities in its peer group. The firm submitted seven U.S. and seven European real estate funds, all scoring 29/30 points on the Management component.

Principal Financial Group (PFG) reported third quarter 2024 results with a net loss of $220 million ($0.95 per diluted share), while non-GAAP operating earnings were $412 million ($1.76 per diluted share). The company achieved assets under management of $741 billion and returned $416 million to shareholders, including $251 million in share repurchases and $165 million in dividends. PFG announced a dividend increase to $0.73 per share for Q4 2024. The company demonstrated strong business fundamentals with premium and fees growth across segments, including 6% growth in Specialty Benefits and 12% growth in Life Insurance business market.

The Global Financial Inclusion Index from Principal® reveals that global financial inclusion improved for the second consecutive year, despite challenging macroeconomic conditions. Singapore retained its top position as the world's most financially inclusive market for the third year in a row, with Asia-Pacific markets comprising half of the top 10.

Key findings include:

• All regions saw improvement in financial inclusion
• Latin America showed the greatest improvement
• The U.S. fell outside the top five ranking for the first time, now ranking seventh
• Consumer perception of financial inclusion has fallen across the world

The Index ranks 41 markets based on support provided by employers, governments, and financial systems. Despite economic pressures, the report highlights how governments and the private sector have stepped up to help societies weather these conditions, leading to increased levels of financial inclusion worldwide.

Principal Financial Group (Nasdaq: PFG) has announced the release of its third quarter 2024 financial results. The results will be made public on Thursday, October 24, 2024, 15 minutes after U.S. markets close. A live conference call to discuss the results is scheduled for Friday, October 25, 2024, at 10 a.m. ET.

The call will feature Dan Houston, chairman and CEO, and Deanna Strable, president and COO, with other senior management available for a Q&A session. Detailed information, including the earnings release, supplement, and slides, will be accessible on the company's investor website. Analysts participating in the Q&A will receive dial-in information in advance.

Principal Financial Group is a global financial company with a 145-year history, serving over 64 million customers and employing 20,000 people as of June 30, 2024. The company has been recognized for its ethics, gender equality, and workplace quality.

Principal Financial Group's recent survey reveals evolving employee benefits and their impact on retention, especially for caregivers. Key findings include:

1. 24% of workers caring for both a child and dependent adult are more likely to consider leaving their job.
2. 22% of 'sandwich generation' caregivers have left previous jobs due to caregiving responsibilities.
3. Caregivers value life insurance and paid family/medical leave the most.
4. 64% of employees see life insurance as 'extremely valuable'.
5. Higher job retention is associated with more benefit options.
6. 69% of businesses report growing financial health, but concerns about inflation and the economy persist.
7. 55% of businesses are expanding staff, and 70% of employees are seeing wage increases.

The survey highlights the importance of understanding employee needs and effective benefits communication.

Principal Financial Group® is collaborating with the New York International Children's Film Festival to bring ¡Hola Cine!, a curated collection of award-winning, family-friendly Latinx short films, to the Des Moines Art Center on September 15, 2024. The event, hosted by Principal Community Relations and the Principal Hispanic Employee Resource Group, celebrates Hispanic Heritage Month and is free and open to the public.

The program features six short films with a total runtime of 55 minutes, showcasing stories from across the Americas that highlight themes of family, perseverance, and magic. All films are in English or have English subtitles, making them accessible to a wide audience. This initiative aligns with Principal's commitment to connecting employees to the community and supporting financial education.

Principal Financial Group and Girl Scouts of Greater Iowa (GSGI) have announced two initiatives to empower young women: Girl Scout Takeover Day and the DataSetGold program. The Takeover Day, scheduled for September 27, 2024, at Principal's headquarters in Des Moines, will offer activities for girls in grades 6-12, including panels, film screenings, and community service projects.

The DataSetGold program aims to provide high school-aged Girl Scouts with data science and financial literacy skills while pursuing their Gold Award. It includes the DataSetGo Digital Education Program, a Take Action Plan, and rewards for participants. This collaboration reflects a shared commitment to preparing young women for success in a digital and data-driven world, offering them tools and knowledge for personal and professional excellence.

Principal Financial Group (Nasdaq: PFG) has announced key leadership changes. Deanna Strable, previously executive vice president and CFO, has been appointed as president and chief operating officer. In her new role, Strable will oversee the company's three main business segments: Retirement and Income Solutions, Benefits and Protection, and Asset Management.

Dan Houston will continue as CEO and Chairman of the Board. Joel Pitz, senior vice president and controller, will serve as interim chief financial officer. Strable, who joined Principal in 1990, has held various roles including president of the workplace benefits and insurance business. The leadership transition aims to drive strategy, financial results, and operations to enable Principal's growth and value creation.

Principal Financial Group (Nasdaq: PFG) has announced that Deanna Strable, executive vice president and chief financial officer, will participate in a fireside chat at the KBW Insurance Conference on Thursday, September 5, 2024, at approximately 3:05 p.m. Eastern Time. The session will cover various industry and company-specific topics through a question-and-answer format.

The fireside chat will be accessible via live audio webcast at principal.com/investor. Principal Financial Group is a global financial company with 20,000 employees serving over 64 million customers. With a 145-year history, the company focuses on improving wealth and well-being for people and businesses. Principal has been recognized as one of the 2024 World's Most Ethical Companies and is a member of the Bloomberg Gender Equality Index.