Principal Financial Group, Inc. reports developments in financial services businesses that span retirement and income solutions, Principal Asset Management, and benefits and protection. Company news commonly covers quarterly earnings, common stock dividend actions, segment trends, assets under management, and credit rating actions tied to its life insurance operating subsidiaries.
Recurring updates also address workplace benefits administration, including enrollment technology integrations, and employer research such as the Principal Financial Well-Being Index. Other company-specific developments include governance and legal leadership changes, risk management commentary, and operating themes across retirement, insurance, asset management, and small-to-midsize business benefits markets.
Principal Financial Group (Nasdaq: PFG) will release its third quarter 2022 financial results on October 27, shortly after the U.S. markets close. A conference call is scheduled for October 28 at 10 a.m. ET, featuring CEO Dan Houston and CFO Deanna Strable discussing the results. Investors can access the conference via webcast or telephone, with additional details available on their investor website. An audio replay will be available two hours post-call until October 31.
Principal Financial Group has announced its investment unit will operate under the name Principal Asset Management, reinforcing its focus on asset management. The firm, which manages $507.1 billion in assets, aims to enhance client outcomes through improved investment strategies and digital solutions. CEO Dan Houston emphasized that this rebranding aligns with market demands for global investment solutions. The company targets a diverse client base, including over 800 investors in more than 80 markets, as it seeks to unify its investment teams and expand product offerings.
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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