Welcome to our dedicated page for Principal Financial news (Ticker: PFG), a resource for investors and traders seeking the latest updates and insights on Principal Financial stock.
Principal Financial Group, Inc. (Nasdaq: PFG) is a global financial company in the finance and insurance sector, with activities spanning retirement and income solutions, asset management, and benefits and protection. News about Principal often highlights its role in helping individuals and businesses plan, protect, invest, insure, and retire, as well as its research on business sentiment through the Principal Financial Well-Being Index.
The PFG news feed on Stock Titan aggregates company announcements, earnings communications, and other material updates. Investors can follow quarterly and full-year earnings releases, segment performance discussions, and capital management actions such as common stock dividends and share repurchases, which are frequently detailed in earnings releases and Form 8-K filings. These updates provide insight into trends across Retirement and Income Solutions, Principal Asset Management, International Pension, Specialty Benefits, and Life Insurance.
Principal also issues news on strategic initiatives and partnerships. For example, the company has announced a partnership with Barings to expand the general account portfolio through private investment grade portfolio finance investments, managed in part by Principal Asset Management. Other news items cover leadership developments, such as the election of Deanna Strable as Chair of the Board, and participation by senior executives in industry conferences and investor events.
In addition, Principal publishes findings from the Principal Financial Well-Being Index, which tracks financial health and outlook among U.S. businesses, and reports on ESG-related achievements in real estate strategies through Principal Asset Management. By reviewing the PFG news page regularly, readers can monitor how the company communicates its financial results, strategic decisions, research insights, and recognition for ethics and workplace culture.
A recent survey by the Plan Sponsor Council of America indicates that employer contributions to 403(b) plans rose nearly 24% year-over-year, from 4.6% in 2020 to 5.7% in 2021. The survey, which included over 300 nonprofits, found that 83.4% of eligible employees participated in retirement plans, and average contributions increased to $4,887. Notably, financial wellness programs surged by 37%, highlighting a strong focus on financial literacy among organizations. The report reflects recovery in contributions post-COVID-19, albeit still below pre-pandemic levels.
Principal Financial Group participated in a regional event in Detroit to celebrate National American Business Women’s Day, hosted by the Small Business Digital Alliance (SBDA). The event featured a panel of business leaders discussing the integration of digital tools into sustainable business models. Key speakers included Isabella Casillas Guzman, Administrator of the U.S. Small Business Administration, and Amy Friedrich, President of U.S. Insurance Solutions at Principal. The discussions emphasized financial inclusion and the importance of digital resources for small business growth.
Principal Financial Group released the inaugural Global Financial Inclusion Index, ranking 42 markets based on financial inclusion indicators. Singapore and the U.S. lead the ranking, while Argentina ranks last. The Index highlights that developed economies generally perform better in government and financial system support, while emerging economies excel in employer support. Key insights suggest a strong correlation between financial inclusion and societal factors such as economic resilience and standards of living.
Post Advisory Group has announced the hiring of Kevin Farley as a portfolio manager for its CLO and structured credit platform. This addition aims to enhance the firm's investment capabilities, focusing on offering strategies with strong downside protection and low volatility. Farley brings over 25 years of experience, including significant expertise in structured credit, previously working at Wells Fargo Securities and Citadel Securities. His role will help manage the firm’s CLO and structured credit solutions, including the recently raised Post CLO Equity Master Fund.
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Principal Foundation, in collaboration with EVERFI, has launched a free data science and financial literacy curriculum called DataSetGo for U.S. high school students. The program aims to enhance data literacy, as only 21% of 16- to 24-year-olds are data literate. Debuting in 11 markets, it targets 70,000 students by 2025. The pilot program in 2021-2022 reached 6,000 students, doubling their assessment scores. With data scientist jobs projected to grow 31% by 2030, this initiative supports students' educational and career goals, fostering economic mobility.
On September 7, 2022, Dan Houston, chairman, president, and CEO of org value="NASDAQ-NMS:PFG"Principal Financial Group will participate in a fireside chat at the 2022 KBW Insurance Conference at approximately 10:35 a.m. Eastern Time. The session will cover various industry and company topics and will be available live via principal.com/investor.
Principal Financial Group serves over 54 million customers, specializing in planning, insurance, investment, and retirement.
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Principal Financial Group® (PFG) reported a second quarter 2022 net income of $3.1 billion, or $11.94 per diluted share, largely boosted by $2.8 billion from exited business. Non-GAAP operating earnings were $423 million. The company declared a quarterly dividend of $0.64 per share, marking an 8% year-over-year increase. However, significant market volatility impacted earnings. Despite challenges, PFG showed strong customer growth and increased investment yields, managing assets worth $632 billion. The company returned $402 million to shareholders, including share repurchases and dividends.
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