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 launched new model portfolios in collaboration with Wilshire, featuring iShares ETFs and BlackRock bond funds. This offering includes 25 portfolios across three series: Global Hybrid, U.S. Hybrid, and ETF only. Currently, 24 of these portfolios are available on the Envestnet platform, with one launching in June. The strategic initiative aims to enhance relationships with Registered Investment Advisors, providing diversified investment strategies that seek to deliver alpha and cater to varying risk tolerances.
Principal Financial Group (Nasdaq: PFG) announced the election of Claudio Muruzábal to its Board of Directors, effective July 1, 2021. With over 25 years of experience in technology and leadership roles at SAP, Muruzábal is expected to contribute valuable insights into customer solutions. His appointment aligns with an agreement with Elliott Investment Management to enhance business strategies. Principal will reveal more about its strategic review during its Investor Day on June 29, 2021.
Principal Financial Group (Nasdaq: PFG) reported a strong first quarter 2021, with net income of $517.1 million, up from $288.9 million year-over-year. Earnings per diluted share increased to $1.87 from $1.04. Non-GAAP operating earnings rose to $423.5 million, compared to $319.6 million in Q1 2020. Total assets under management reached a record $820.3 billion, boosted by $8.2 billion in net cash flow. The Board approved a quarterly dividend of $0.61 per share, a 3% increase from the previous year. Strong performance in Retirement and Income Solutions and Principal Global Investors contributed to this growth.
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Principal Financial Group announced its multi-year corporate responsibility commitments aimed at employee empowerment, financial inclusion, and sustainability, as detailed in its 2020 CSR report. CEO Dan Houston emphasized the importance of these commitments in driving outcomes for a sustainable future. Key commitments include achieving an 80% score in the Inclusion Index, doubling support for diverse businesses, and reducing carbon emissions by 40% by 2035. The report highlights a 40% reduction in greenhouse gases over the past decade and $25 million for COVID-19 relief.
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Principal Financial Group (Nasdaq: PFG) will release its first quarter 2021 financial results on April 27, 2021, 15 minutes after the U.S. market closes. A conference call with management is scheduled for April 28, 2021, at 10 a.m. ET, where results will be discussed. The call will be accessible via the company's website and by phone. An audio replay will be available shortly after the call ends, lasting until May 4, 2021. More details, including earnings information, will be online at principal.com/investor.
The latest survey by Principal Financial Group indicates a 20% increase in employee turnover among small businesses, attributing this rise to the impact of COVID-19. Despite tight budgets, small business owners are enhancing employee benefits to improve retention, with affordability and the ability to attract talent as key priorities. The report highlights that 73% of owners are now consulting financial professionals for assistance, a notable rise from previous years. Key employee retention strategies are emphasized, with growing confidence in achieving business goals over the next five years.
Principal Financial Group® (Nasdaq: PFG) announced its 2021 outlook, projecting non-GAAP operating earnings growth of 18-20% per diluted share compared to 2020. The guidance includes capital deployments of $1.4-$1.8 billion, with $600-$800 million allocated for share repurchases. Each business unit has specific growth targets, with estimates reflecting ongoing impacts from COVID-19. The total company expects a pre-tax operating loss in the corporate segment between $(330)-$(350) million, influenced by macroeconomic factors and integration expenses. A conference call for further discussion is scheduled for February 25, 2021.
Principal Financial Group (Nasdaq: PFG) announced a strategic review of its business mix, capital management, and capital deployment options to enhance shareholder value. This initiative follows discussions with major investor Elliott Investment Management. Principal will appoint Maliz Beams as an independent director to the Board, adding expertise to its Finance Committee. The Finance Committee, which will oversee the review with external advisors, aims to strengthen Principal's position in the competitive life and annuity market. Results from this review are expected to be announced at the 2021 Investor Day.