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 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.
Principal Financial Group (Nasdaq: PFG) announced that Dan Houston, chairman, president, and CEO, will participate in a fireside chat at the Bank of America Securities 2021 Insurance Conference on February 11, 2021, at 11:30 a.m. (EST). Houston will discuss the company’s diversified business model, enterprise strategy, and how they are creating long-term shareholder value and growth. A live audio webcast will be available on principal.com/investor.
Principal Financial Group (Nasdaq: PFG) is launching the EVERFI Black History Month Challenge to encourage U.S. high school students to engage in discussions about Black history. Running through February, this scholarship competition invites students in grades 9-12 to complete digital lessons and submit essays on fostering conversations about Black history. A total of $20,000 in scholarships will be awarded to three winners. This initiative aligns with Principal's commitment to education and community engagement, aimed at promoting financial literacy and social justice awareness.
RobustWealth has launched an updated client portal designed to enhance user experience and assist in achieving investment goals. Key features include a goal-centric timeline prioritizing upcoming targets and a risk tolerance score with options for recalibration. The portal simplifies account management, allowing clients to link external accounts for a comprehensive view of their net worth. This update reflects RobustWealth's commitment to personalized online financial planning since its acquisition by Principal Financial Group in 2018.
Principal Financial Group (Nasdaq: PFG) reported strong financial results for Q4 and full year 2020. Q4 net income was $472.6 million, up from $300.9 million in Q4 2019, with diluted EPS at $1.70 compared to $1.07. For the year, net income was $1,395.8 million, or $5.05 per share, a slight increase from the previous year. Non-GAAP earnings for Q4 reached $409.6 million. A quarterly dividend of $0.56 was authorized, totaling a 2% increase year-over-year. The company maintained a robust capital position, deploying over $900 million towards dividends and share repurchases.