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 has successfully integrated Wells Fargo's Institutional Retirement and Trust business, enhancing its capabilities and market position in retirement services. This acquisition, completed in July 2019, added 4.3 million eligible participants and approximately $150 billion in account value. Principal now serves over 10 million participants, managing over $537 billion. Key improvements include enhanced retirement offerings, increased savings rates averaging 9%, and expanded client services, positioning Principal among the top in multiple retirement plan categories.
Principal Financial Group (Nasdaq: PFG) reported a net income of $361.8 million for Q2 2021, down from $398.3 million in Q2 2020. Net income per diluted share was $1.32, compared to $1.45 last year. Non-GAAP operating earnings increased to $467.3 million, up from $402.7 million, reflecting strong performance in asset management and a successful retirement business integration. The company authorized a $0.63 dividend for Q3 2021, marking a 6% increase year-over-year. Strong cash flow of $2.1 billion and an estimated statutory RBC ratio of 421% were also reported.
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Principal Financial Group (Nasdaq: PFG) will announce its second quarter 2021 financial results after U.S. markets close on July 27, 2021. A conference call, featuring Dan Houston and Deanna Strable, will take place on July 28, 2021, at 10 a.m. ET to discuss these results. Investors can access the earnings release and additional materials on principal.com/investor. The company has over 18,000 employees and serves more than 38 million customers globally.
Principal Financial Group (Nasdaq: PFG) has announced significant changes to its portfolio and capital management strategy, aimed at enhancing profitable growth and shareholder returns. Following a comprehensive review, the company will exit U.S. retail fixed annuities and consumer life insurance markets while focusing on fee-based businesses in retirement and asset management. A new $1.2 billion share repurchase authorization reflects its commitment to return capital to shareholders. These strategic shifts position Principal to strengthen leadership in growth markets and improve return profiles.
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Principal announced the renaming of its Principal Active Income ETF (YLD) to the Principal Active High Yield ETF, effective September 1, 2021, as part of a routine review. A 2-for-1 stock split will occur, with shares trading on a split-adjusted basis starting September 2, 2021. This split does not change the total dollar value of shareholder investments. Shareholders are not required to take any action. The ETF's ticker and CUSIP remain unchanged.
Principal Financial Group is enhancing its model portfolio strategy with the appointment of Michael Casciano as a new portfolio strategist. The firm is launching three new adaptive multi-factor ETFs—U.S. Large Cap, U.S. Small Cap, and International—designed to adjust risk exposure based on equity market signals. These initiatives aim to meet rising client demand and establish a solid foundation for growth in the model portfolio sector, further integrating these ETFs into Principal's offerings.
Principal Financial Group has announced the appointment of May Tong as a portfolio manager for its Global Asset Allocation team, which manages $150 billion in assets. Tong, with nearly 20 years of experience, will enhance the company’s commitment to delivering outcome-oriented portfolio solutions. Principal aims to meet rising client demand for holistic investment strategies, backed by a team with over 100 years of collective experience. Principal Global Investors currently manages approximately $550.6 billion in assets globally.