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.
Principal Financial Group (PFG) announced a reinsurance agreement with an affiliate of Sixth Street covering approximately $16 billion and $9 billion in U.S. retail fixed annuity and universal life insurance blocks. This deal is expected to yield $800 million in deployable proceeds, enhancing the company's capital efficiency. Principal plans to return up to $4.6 billion to shareholders through share repurchases and dividends between 2021 and 2022, reflecting strong operating performance and market conditions. The transaction aims to bolster future earnings per share and return on equity.
Principal Alternative Credit, a direct lending business of Principal Global Investors, reported a more than eight-fold increase in committed capital at the end of 2021, with nearly 40 transactions closed, totaling over
Principal Financial Group (Nasdaq: PFG) will announce its fourth quarter and full year 2021 financial results on
Principal Financial Group has been recognized as the No. 3 Best Place to Work in Money Management by Pensions & Investments for 2021, marking its 10th consecutive year on this list. This achievement places Principal Global Investors among only five firms to receive this recognition since the program began. With approximately $577.4 billion in assets under management, Principal Global Investors ranks as the 26th largest institutional asset manager globally.
The Principal Financial Well-Being Index indicates SMBs are increasingly hiring, with 42% reporting staff increases compared to 19% in November 2020. Financial health is improving, with 67% of businesses noting advancements, up from 44% last year. However, uncertainties remain, as only 46% of smaller businesses feel confident about their financial outlook for the next 12 months. Rising employee turnover is a challenge, with 67% of smaller business employees voluntarily leaving. Additionally, childcare support is now prioritized as a key benefit to attract talent.
Principal announced that its private equity and European core property strategies received 4-star ratings from GRESB for 2021, ranking in the top 40% of global participants. This marks the sixth consecutive year for the core strategies to achieve this rating, showcasing a commitment to ESG integration in investment practices. Of the eight submitted strategies, all outperformed peer averages in management categories. The GRESB benchmark saw a 24% growth in participation, covering $5.7 trillion in AUM, highlighting increasing investor interest in ESG standards.
In 2022, non-profit organizations are increasingly prioritizing 403(b) retirement plans focused on guaranteed income, with over double the plan sponsors emphasizing this compared to the previous year, per a survey by the Plan Sponsor Council of America. The survey of 139 organizations revealed a 45% rise in financial wellness tool prioritization. While 60% of sponsors aim to maintain existing plans, 89.1% have not changed employer contributions, demonstrating resilience amid financial uncertainties. Virtual education methods are also on the rise, suggesting lasting shifts in employee education strategies.
Principal Financial Group (NASDAQ: PFG) announced that Deanna Strable, CFO, will participate in a fireside chat at the Goldman Sachs 2021 U.S. Financial Services Conference on December 8, 2021, at 3:00 p.m. EST. She will discuss the company's growth strategies, capital management, and commitment to long-term shareholder value. The chat will be available via audio webcast at principal.com/investor. Principal has over 18,000 employees and serves over 49 million customers worldwide.
Principal Global Investors' direct lending business, Principal Alternative Credit, has served as the sole lead arranger for senior secured credit facilities for Versant Diagnostics, part of Iron Path Capital. This financing supports Versant's growth as a major independent pathology group in the Midwest. Principal's commitment indicates confidence in Versant's management and acquisition strategy. Principal Alternative Credit targets middle-market companies with strong EBITDA, focusing on transactions between $25 million to $200 million.
Principal Financial Group has joined the U.N. Global Compact CFO Taskforce to enhance its sustainability strategies. The taskforce aims to mobilize substantial investment capital towards the U.N. Sustainable Development Goals. Key executives, including CFO Deanna Strable, will contribute to promoting responsible investment practices. Principal's commitment includes a 40% reduction in U.S. carbon emissions by 2035 and a goal of net-zero emissions by 2050. The company previously issued a $600 million sustainability bond to support green initiatives.