Principal Financial Group, Inc. provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates in Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments. The Retirement and Income Solutions segment provides a portfolio of asset accumulation products and services for retirement savings and income. It offers products and services for defined contribution plans, including 401(k) and 403(b) plans, defined benefit pension plans, nonqualified executive benefit plans, employee stock ownership plans, and pension risk transfer services; individual retirement accounts and payroll deduction plans; investment only products; and mutual funds, individual annuities, and bank products. The Principal Global Investors segment provides equity, fixed income, real estate, and other alternative investments, as well as asset allocation, stable value management, and other structured investment strategies. The Principal International segment offers pension accumulation and income annuity products, mutual funds, asset management, and life insurance accumulation products, as well as voluntary savings plans in Brazil, Chile, Mexico, China, Hong Kong Special Administrative Region, India, and Southeast Asia. The U.S. Insurance Solutions segment provides specialty benefits, such as group dental and vision insurance, group life insurance, and group and individual disability insurance, as well as administers group dental, disability, and vision benefits; and individual life insurance products comprising universal, variable universal, indexed universal, and term life insurance products in the United States. It also offers insurance solutions for small and medium-sized businesses and their owners, as well as executives. Principal Financial Group, Inc. was founded in 1879 and is based in Des Moines, Iowa.
IPO Year: 2001
Exchange: NASDAQ
Website: principal.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/5/2024 | $74.00 | Underweight | Barclays |
| 7/9/2024 | $99.00 | Mkt Perform → Strong Buy | Raymond James |
| 7/2/2024 | $88.00 → $96.00 | Underweight → Neutral | JP Morgan |
| 2/15/2024 | $75.00 | Underweight → Equal-Weight | Morgan Stanley |
| 1/4/2024 | $82.00 → $83.00 | Underperform → In-line | Evercore ISI |
| 6/23/2023 | $60.00 → $65.00 | Underperform → Hold | Jefferies |
| 6/9/2023 | $77.00 → $75.00 | Underperform → Mkt Perform | Keefe Bruyette |
| 5/1/2023 | $81.00 → $78.00 | Buy → Neutral | BofA Securities |
| 4/25/2023 | $79.00 | Equal Weight | Wells Fargo |
| 12/8/2022 | $86.00 | Neutral → Underperform | Credit Suisse |
Dan Houston to remain executive chair of the Board Principal Financial Group® (NASDAQ:PFG) today announced the Board of Directors has appointed president and chief operating officer Deanna Strable as the company's next president and chief executive officer, effective January 7, 2025. Strable succeeds Dan Houston, who will continue to serve as executive chair of the Board. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241112003177/en/Deanna Strable. (Photo: Business Wire) "I'm incredibly proud of the company we have built, the culture of care and expertise developed, and our unwavering commitment to clients. It has been an hon
New offering expands flagship capabilities to meet client demand in the market Principal Asset Management℠ announced the launch of the International Equity ETF (PIEQ). This ETF will be a large-cap portfolio managed by the Principal equities team. Principal equities, with $154.8 billion in AUM1, has a focused investment strategy combining global insights with local knowledge to deliver a wide range of specialized equity investment solutions. Demand for active ETFs was the strongest ever in 2023, reaching an all-time high of $349 billion in the category2. This is expected to continue as advisor allocations to active ETFs are expected to increase by 45% over the next two years3. The Intern
AUSTIN, Texas, Nov. 7, 2024 /PRNewswire/ -- PerfectQuote, Inc., a leading group health digital quoting platform, announced its collaboration with Principal Financial Group®, to provide PerfectQuote customers with direct, underwritten proposals for dental, vision, life, disability and voluntary benefits delivered through its Request-for-Proposal ("RFP") toolset. With a critical mass of firms and general agencies leveraging the PerfectQuote platform (including 14 of the top 20 largest U.S.- based firms) servicing almost 80,000 employers through the platform, insurance carriers are leveraging a frictionless digital distribution experience to deliver underwritten and bindable quotes; allowing P
Principal Financial Group® (NASDAQ:PFG) announced today that it will host its 2024 Investor Day on Monday, November 18, 2024, from 1 p.m. to 4 p.m. EST in New York City. To view the webcast live and access related material, please register in advance at principal.com/investorday. A replay will also be available on the website following the event. Any questions regarding Principal's 2024 Investor Day may be directed to Principal's Investor Relations team at investors.principal.com/resources/contact-investor-relations. About Principal Financial Group® Principal Financial Group® (NASDAQ:PFG) is a global financial company with nearly 19,000 employees passionate about improving the wealth and
High ratings in global benchmarks show long-standing commitment to sustainable investment Principal Asset Management℠ announced today that two European real estate core property strategies received 5-star ratings and its U.S. real estate core strategy received a 4-star rating from the Global Real Estate Sustainability Benchmark (GRESB) for 2024. The ratings place all three strategies in the top 40% and two in the top 20% of GRESB participants worldwide1 and demonstrates the firm's long-standing commitment to integrate sustainability standards into its real estate investment practices while pursuing positive financial results for clients. This is the ninth consecutive year that the U.S. co
Raises fourth quarter 2024 common stock dividend Principal Financial Group® (NASDAQ:PFG) announced results for third quarter 2024. Third Quarter 2024 Highlights Net loss attributable to Principal Financial Group (PFG) of $220 million, or $0.95 per diluted share, driven by the loss from exited business Non-GAAP net income attributable to PFG, excluding exited business, of $419 million, or $1.78 per diluted share Non-GAAP operating earnings1 of $412 million, or $1.76 per diluted share; excluding impacts of the 3Q24 significant variances2, non-GAAP operating earnings of $480 million, or $2.05 per diluted share Returned $416 million of capital to shareholders, including $251 millio
Singapore retains number one position as the world's most financially inclusive market for the third year in a row, as Asia-Pacific markets comprise half of the top 10. All regions saw improvement in financial inclusion with only eight out of the 41 markets analyzed experiencing a decline in scores. The U.S. financial inclusion score remained unchanged, but now ranks seventh, falling outside of the top five markets for the first time since the inception of the Index. Singapore is once again the world's most financially inclusive market across 41 analyzed, followed by Hong Kong, South Korea, Switzerland, and Sweden, according to the third edition of the Global Financial Inclusion In
Results will be released October 24, Conference call scheduled for October 25 Principal Financial Group® (NASDAQ:PFG) announced today that it will release third quarter 2024 financial results 15 minutes after U.S. markets close on Thursday, October 24, 2024. On Friday, October 25, 2024, at 10 a.m. ET, Dan Houston, chairman and chief executive officer, and Deanna Strable, president and chief operating officer, will discuss the results during a live conference call. Other members of senior management will be available for a question and answer session. Additional information about quarterly financial results, including the earnings release, supplement, and slides will be available on our we
Reston, Virginia, Oct. 03, 2024 (GLOBE NEWSWIRE) -- College students from across the country are invited to attend two Career Connections Conferences hosted by Future Business Leaders of America, Inc. (FBLA), the nation's largest career and technical student organization focused solely on business. The conferences will be held in Atlanta October 17-19 and Des Moines October 24-26. Both conferences will feature opportunities for students to hear from C-suite executives, recruiters, and young professionals about how to launch and succeed in their careers. In Atlanta, students will hear from leaders at Randstad, while executives at the Principal Financial Group® in Des Moines will host prof
New research finds employees value a variety of benefit options, especially those who identify as caregivers The landscape of employee benefits is evolving as employers are faced with managing five generations in the workplace. A recent survey from Principal Financial Group® reveals employees find value in a variety of benefit options, and those options can influence retention in their workplace. The value of these benefits are magnified for employees who serve as caregivers for children, dependent adults, or those in a "sandwich generation" caring for both a dependent child and adult. Caregiving impacts on employee retention Family caregivers make up approximately 20% of the U.S. lab
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Citigroup analyst Michael Ward maintains Principal Finl Gr (NASDAQ:PFG) with a Sell and raises the price target from $68 to $70.
Providing a diverse range of perspectives from bullish to bearish, 6 analysts have published ratings on Principal Finl Gr (NASDAQ:PFG) in the last three months. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 0 5 0 0 Last 30D 0 0 1 0 0 1M Ago 1 0 3 0 0 2M Ago 0 0 0 0 0 3M Ago 0 0 1 0 0 The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $88.0, a high estimate of $99.00, and
Jefferies analyst Suneet Kamath maintains Principal Finl Gr (NASDAQ:PFG) with a Hold and raises the price target from $73 to $76.
B of A Securities analyst Joshua Shanker maintains Principal Finl Gr (NASDAQ:PFG) with a Neutral and raises the price target from $87 to $94.
Stock markets continue to reach record highs lately, driven in great part by advances in the financial, consumer discretionary and utilities sectors. The Dow Jones Industrial Average (DJI) hit an all-time market-close high of 39,908 points on May 15. Since then, it has fallen to 38,112 points on May 30, but it has made its way back up to 39,300 points as of Tuesday’s mid-day trading. S&P 500 communications services (SPLRLC) hit a record high of 322.31 points on Friday before declining to 320.49 points on Tuesday. Also Read: 5 Biggest Winners, 5 Biggest Losers From Dow Jones Industrial Average In First Half 2024 The tech-heavy Nasdaq Composite (IXIC) reached an all-time high of $
Raymond James analyst Wilma Burdis upgrades Principal Finl Gr (NASDAQ:PFG) from Market Perform to Strong Buy and announces $99 price target.
JP Morgan analyst Jimmy Bhullar upgrades Principal Finl Gr (NASDAQ:PFG) from Underweight to Neutral and raises the price target from $88 to $96.
Providing a diverse range of perspectives from bullish to bearish, 7 analysts have published ratings on Principal Finl Gr (NASDAQ:PFG) in the last three months. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 0 7 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 1 0 0 3M Ago 0 0 5 0 0 Analysts have set 12-month price targets for Principal Finl Gr, revealing an average target of $85.86, a high estimate of $91.00, and a low estimate of $78.00. This current average reflects an i
Jefferies analyst Suneet Kamath maintains Principal Finl Gr (NASDAQ:PFG) with a Hold and raises the price target from $74 to $78.
Raises fourth quarter 2024 common stock dividend Principal Financial Group® (NASDAQ:PFG) announced results for third quarter 2024. Third Quarter 2024 Highlights Net loss attributable to Principal Financial Group (PFG) of $220 million, or $0.95 per diluted share, driven by the loss from exited business Non-GAAP net income attributable to PFG, excluding exited business, of $419 million, or $1.78 per diluted share Non-GAAP operating earnings1 of $412 million, or $1.76 per diluted share; excluding impacts of the 3Q24 significant variances2, non-GAAP operating earnings of $480 million, or $2.05 per diluted share Returned $416 million of capital to shareholders, including $251 millio
Results will be released October 24, Conference call scheduled for October 25 Principal Financial Group® (NASDAQ:PFG) announced today that it will release third quarter 2024 financial results 15 minutes after U.S. markets close on Thursday, October 24, 2024. On Friday, October 25, 2024, at 10 a.m. ET, Dan Houston, chairman and chief executive officer, and Deanna Strable, president and chief operating officer, will discuss the results during a live conference call. Other members of senior management will be available for a question and answer session. Additional information about quarterly financial results, including the earnings release, supplement, and slides will be available on our we
Raises third quarter 2024 common stock dividend Principal Financial Group® (NASDAQ:PFG) announced results for second quarter 2024. Second Quarter 2024 Highlights Net income attributable to Principal Financial Group (PFG) of $353 million, or $1.49 per diluted share Non-GAAP net income attributable to PFG, excluding exited business, of $356 million, or $1.50 per diluted share Non-GAAP operating earnings1 of $386 million, or $1.63 per diluted share Returned $415 million of capital to shareholders, including $250 million of share repurchases and $165 million of common stock dividends Raised third quarter 2024 common stock dividend to $0.72 per share, a 1 cent increase over th
Results will be released July 25; Conference call scheduled for July 26 Principal Financial Group® (NASDAQ:PFG) announced today that it will release second quarter 2024 financial results on Thursday, July 25, 2024, 15 minutes after U.S. markets close. On Friday, July 26, 2024, at 10 a.m. ET, Dan Houston, chairman, president, and chief executive officer, and Deanna Strable, executive vice president and chief financial officer, will discuss the results during a live conference call. Other members of senior management will be available for a question and answer session. Additional information about quarterly financial results, including the earnings release, supplement, and slides will be
Raises second quarter 2024 common stock dividend Principal Financial Group® (NASDAQ:PFG) announced results for first quarter 2024. First Quarter 2024 Highlights Net income attributable to Principal Financial Group (PFG) of $533 million, or $2.22 per diluted share Non-GAAP net income attributable to PFG, excluding exited business of $376 million, $1.58 per diluted share Non-GAAP operating earnings1 of $394 million, or $1.65 per diluted share Returned $362 million of capital to shareholders, including $200 million of share repurchases and $162 million of common stock dividends Raised second quarter 2024 common stock dividend to $0.71 per share, a 2 cent increase over the fi
Results will be released April 25; Conference call scheduled for April 26 Principal Financial Group® (NASDAQ:PFG) announced today that it will release first quarter 2024 financial results after U.S. markets close on Thursday, April 25, 2024. On Friday, April 26, 2024, at 10 a.m. ET, Dan Houston, chairman, president, and chief executive officer, and Deanna Strable, executive vice president and chief financial officer, will discuss the results during a live conference call. Other members of senior management will be available for a question-and-answer session. The company's earnings release, financial supplement, and slides will be available at investors.principal.com. You can access th
AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "aa" (Superior) of Principal Life Insurance Company and Principal National Life Insurance Company. Both are life insurance operating companies of Principal Financial Group, Inc. (PFG) (NASDAQ:PFG) and collectively referred to as Principal. Concurrently, AM Best has affirmed the Long-Term ICRs of "a" (Excellent) of Principal Financial Services, Inc. and PFG, as well as the group's Long-Term Issue Credit Ratings (Long-Term IRs). In addition, AM Best also has affirmed the group's Short-Term Issue Credit Rating (Short-Term IR). The outlook of these Credit Ratings (rati
Raises first quarter 2024 common stock dividend and announces new $1.5 billion share repurchase authorization Company Highlights Full year 2023 net income attributable to Principal Financial Group®, Inc. (PFG)1 of $623 million, or $2.55 per diluted share, includes $892 million of loss from exited business. Fourth quarter 2023 net loss attributable to PFG of $872 million, or $3.66 per diluted share, includes $1,171 million of loss from exited business. Full year 2023 non-GAAP operating earnings2 of $1,603 million, or $6.55 per diluted share. Fourth quarter 2023 non-GAAP operating earnings of $441 million, or $1.83 per diluted share. Returned $1.3 billion of capital to shareholder
Results will be released February 12; Conference call scheduled for February 13 Principal Financial Group® (NASDAQ:PFG) announced today that it will release fourth quarter and full year 2023 financial results and the company's outlook for 2024 after U.S. markets close on Monday, February 12, 2024. On Tuesday, February 13, 2024, at 10 a.m. ET, Dan Houston, chairman, president, and chief executive officer, and Deanna Strable, executive vice president and chief financial officer, will discuss the results and the 2024 outlook during a live conference call. Other members of senior management will be available for a question-and-answer session. The company's earnings release, financial supple
Raises fourth quarter 2023 common stock dividend Company Highlights Net income attributable to Principal Financial Group®, Inc. (PFG)1 of $1,246 million, or $5.10 per diluted share, includes $702 million of income from exited business Non-GAAP operating earnings2 of $420 million, or $1.72 per diluted share Returned $356 million of capital to shareholders Raises fourth quarter 2023 common stock dividend by $0.02 to $0.67 per share Assets under management (AUM) of $651 billion, which is included in assets under administration (AUA) of $1.5 trillion Principal Financial Group® (NASDAQ:PFG) announced results for third quarter 2023. Non-GAAP net income attributable to PFG
Barclays initiated coverage of Principal Fincl with a rating of Underweight and set a new price target of $74.00
Raymond James upgraded Principal Fincl from Mkt Perform to Strong Buy and set a new price target of $99.00
JP Morgan upgraded Principal Fincl from Underweight to Neutral and set a new price target of $96.00 from $88.00 previously
Morgan Stanley upgraded Principal Fincl from Underweight to Equal-Weight and set a new price target of $75.00
Evercore ISI upgraded Principal Fincl from Underperform to In-line and set a new price target of $83.00 from $82.00 previously
Jefferies upgraded Principal Fincl from Underperform to Hold and set a new price target of $65.00 from $60.00 previously
Keefe Bruyette upgraded Principal Fincl from Underperform to Mkt Perform and set a new price target of $75.00 from $77.00 previously
BofA Securities downgraded Principal Fincl from Buy to Neutral and set a new price target of $78.00 from $81.00 previously
Wells Fargo initiated coverage of Principal Fincl with a rating of Equal Weight and set a new price target of $79.00
Credit Suisse downgraded Principal Fincl from Neutral to Underperform and set a new price target of $86.00
A collaboration to equip young women with financial literacy skills Principal Financial Group® and Girl Scouts of Greater Iowa (GSGI) announced a collaboration today unveiling two initiatives designed to empower young women and enhance community involvement: Girl Scout Takeover Day and the DataSetGold program. Girl Scout Takeover Day at Principal Principal will host a Takeover Day set to inspire and engage girls in grades 6-12 with a variety of enriching activities on Friday, September 27, 2024, from 10 a.m. to 2 p.m. at Principal world headquarters in Des Moines, Iowa. This collaboration with GSGI is open to Girl Scout Cadettes, Seniors and Ambassadors as well as young women in grade
Mansi Patel joins as head of infrastructure debt Principal Asset Management℠ today announced the launch of its new private infrastructure debt capability (the capability) and the hiring of Mansi Patel as senior managing director, head of infrastructure debt to lead its launch and implementation. This new capability adds to the firm's long-standing expertise in public listed infrastructure, real estate debt, and alternative credit. The capability will focus on investing in a diversified portfolio of private infrastructure debt, targeting thematic investments in globalization, decarbonization, and electrification. By doing so, it aims to generate a higher risk premium relative to its publ
Annual PGA TOUR Champions event raised more than $7.3 million for Iowa children's charities The Principal Charity Classic today announced its 2021 tournament raised more than $7.3 million in support of Iowa children's charities, surpassing the event's previous record of $6.7 million set in 2020 despite the tournament being canceled due to COVID-19. The annual PGA TOUR Champions event in Des Moines has now raised more than $37 million for Iowa children's charities since Principal Financial Group® became the title sponsor in 2007. "The record levels of generosity have brought the Principal Charity Classic to new heights. It's a true testament to the sponsors, volunteers, players, fans, and
Investor Day to be held on June 29 Principal Financial Group® (NASDAQ:PFG) announced today that Claudio Muruzábal, president of SAP South Europe, Middle East, Africa and chairman of SAP Latin America & Caribbean, has been elected to the Principal® Board of Directors, effective July 1, 2021. "Claudio brings immense global experience in many of the markets where Principal does business today, along with more than 25 years of leadership in the technology industry," said Dan Houston, chairman, president and chief executive officer of Principal. "Claudio will bring valuable insight as we consider new and innovative approaches to delivering customer guidance and solutions, including through dig