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.
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Principal Financial Group has achieved a remarkable milestone by ranking seventh on Barron’s 100 Most Sustainable Companies list for 2022, a leap of 59 spots from last year. This recognition highlights the company’s dedication to environmental, social, and governance (ESG) practices. Principal is the highest-ranking financial services firm on the list, following an evaluation of 1,000 public companies. The firm aims to reduce U.S. carbon emissions by 40% by 2035 and achieve net-zero emissions by 2050, reflecting their commitment to a sustainable future.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of 'aa' for Principal Life Insurance Company and Principal National Life Insurance Company, the life insurance arms of Principal Financial Group, Inc. (PFG). The ratings reflect Principal's very strong balance sheet strength and strong operating performance. While risk-adjusted capitalization is strong, it is somewhat constrained by dividends to the parent company. Growth in international markets is noted, though political risks may affect future performance.
Principal Financial Group (Nasdaq: PFG) announced its financial guidance for 2022, projecting a strong growth in non-GAAP operating earnings per share (EPS) of 10-13% compared to 2021. The company plans to return $2.5-$3.0 billion to shareholders, with $2.0-$2.3 billion allocated for share repurchases. The guidance reflects anticipated impacts of reinsurance transactions and macroeconomic conditions. The EPS growth is expected to be around 6-8% after accounting for losses from transactions, and the company is positioned to meet its financial targets in 2023.
Principal Financial Group announced two key leadership appointments to strengthen its compliance and investor relations. Noreen Fierro will serve as senior vice president, chief compliance officer, effective February 21, bringing extensive experience from Guardian Life and Prudential. Humphrey Lee joins as vice president, head of investor relations, effective February 28, after a successful tenure at Dowling & Partners. These changes come as the company continues to enhance support for compliance and investor strategies.
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Principal Financial Group (Nasdaq: PFG) announced that Dan Houston, chairman, president & CEO, will engage in a fireside chat at the BofA Securities 2022 Insurance Conference on February 16, 2022, at 8:00 a.m. (EST). Houston will discuss the company's strategy to address customers' growing needs for financial security, aiming for long-term growth opportunities. A live audio webcast will be accessible at principal.com/investor.
Principal Financial Group (Nasdaq: PFG) will announce its 2022 outlook on March 2, 2022, at 10:00 a.m. ET. CEO Dan Houston and CFO Deanna Strable will lead a conference call to discuss earnings drivers and capital deployment. Attendees can join via webcast or by phone. A replay will be available two hours after the call and will last until March 9, 2022. Further information is available on their website.
Principal Global Investors has announced its plan to launch its first semi-transparent ETF, focusing on real estate assets, leveraging Fidelity’s active equity ETF methodology. This initiative aims to enhance investment outcomes by combining active management with innovative strategies. Currently, Principal offers 14 ETFs, amounting to approximately $5 billion in assets under management. The new ETF is part of Principal's strategy to meet growing investor demand for active investment solutions, emphasizing their commitment to strong performance and income generation.
Principal Financial Group (PFG) reported a fourth quarter 2021 net income of $472 million, or $1.76 per diluted share, marking a slight decrease from $472.6 million a year prior. For the full year 2021, net income rose to $1.7 billion, or $6.27 per diluted share. Non-GAAP operating earnings for Q4 were $498 million, up 21% year-over-year. The company returned $520 million to shareholders in Q4, including $350 million in share repurchases. PFG also declared a first quarter 2022 dividend of $0.64 per share, a 14% increase from the previous year.