Principal Financial Stock Price, News & Analysis

A new Principal Financial Group survey reveals strong retirement savings habits among middle-income households ($50,000-$99,999). 77% of these households are saving for retirement at an average rate of 7.8% of their income before employer contributions, with 40% expecting better retirement outcomes than initially envisioned.

The survey found that 93% of respondents prioritize retirement savings despite financial challenges. Family members (65%) and friends/peers (52%) were primary influences in starting retirement savings. However, employers, financial professionals, and retirement plan providers proved more helpful for ongoing savings guidance.

Notable challenges include 30% of middle-income households making early withdrawals, primarily for urgent repairs (38%), job loss (30%), medical debt (18%), and family-related expenses (18%).

PerfectQuote has announced a collaboration with Principal Financial Group to provide direct, underwritten proposals for dental, vision, life, disability, and voluntary benefits through its RFP toolset. PerfectQuote's platform serves 14 of the top 20 largest U.S.-based firms and nearly 80,000 employers. The platform has demonstrated success since its 2018 launch by streamlining quoting processes and reducing close times by up to 95%. The collaboration aims to facilitate digital distribution at scale while providing reporting insights for carrier sales and underwriting teams.

Principal Financial Group (Nasdaq: PFG) has announced its upcoming 2024 Investor Day, scheduled for Monday, November 18, 2024. The event will take place in New York City from 1 p.m. to 4 p.m. EST.

Interested parties can access the live webcast and related materials by registering in advance at principal.com/investorday. A replay of the event will be made available on the website afterward. Questions about the event can be directed to Principal's Investor Relations team through their online contact portal.

Principal Asset Management has achieved high ratings from the Global Real Estate Sustainability Benchmark (GRESB) for 2024, with two European real estate core property strategies receiving 5-star ratings and its U.S. real estate core strategy earning a 4-star rating. The U.S. core strategy has maintained a 4-star rating for nine consecutive years. Additionally, 13 strategies received green-star ratings. The Principal Green Property strategy scored 93/100 in its first GRESB submission, ranking 2nd among 23 entities in its peer group. The firm submitted seven U.S. and seven European real estate funds, all scoring 29/30 points on the Management component.

Principal Financial Group (PFG) reported third quarter 2024 results with a net loss of $220 million ($0.95 per diluted share), while non-GAAP operating earnings were $412 million ($1.76 per diluted share). The company achieved assets under management of $741 billion and returned $416 million to shareholders, including $251 million in share repurchases and $165 million in dividends. PFG announced a dividend increase to $0.73 per share for Q4 2024. The company demonstrated strong business fundamentals with premium and fees growth across segments, including 6% growth in Specialty Benefits and 12% growth in Life Insurance business market.

The Global Financial Inclusion Index from Principal® reveals that global financial inclusion improved for the second consecutive year, despite challenging macroeconomic conditions. Singapore retained its top position as the world's most financially inclusive market for the third year in a row, with Asia-Pacific markets comprising half of the top 10.

Key findings include:

• All regions saw improvement in financial inclusion
• Latin America showed the greatest improvement
• The U.S. fell outside the top five ranking for the first time, now ranking seventh
• Consumer perception of financial inclusion has fallen across the world

The Index ranks 41 markets based on support provided by employers, governments, and financial systems. Despite economic pressures, the report highlights how governments and the private sector have stepped up to help societies weather these conditions, leading to increased levels of financial inclusion worldwide.

Principal Financial Group (Nasdaq: PFG) has announced the release of its third quarter 2024 financial results. The results will be made public on Thursday, October 24, 2024, 15 minutes after U.S. markets close. A live conference call to discuss the results is scheduled for Friday, October 25, 2024, at 10 a.m. ET.

The call will feature Dan Houston, chairman and CEO, and Deanna Strable, president and COO, with other senior management available for a Q&A session. Detailed information, including the earnings release, supplement, and slides, will be accessible on the company's investor website. Analysts participating in the Q&A will receive dial-in information in advance.

Principal Financial Group is a global financial company with a 145-year history, serving over 64 million customers and employing 20,000 people as of June 30, 2024. The company has been recognized for its ethics, gender equality, and workplace quality.

Principal Financial Group's recent survey reveals evolving employee benefits and their impact on retention, especially for caregivers. Key findings include:

1. 24% of workers caring for both a child and dependent adult are more likely to consider leaving their job.
2. 22% of 'sandwich generation' caregivers have left previous jobs due to caregiving responsibilities.
3. Caregivers value life insurance and paid family/medical leave the most.
4. 64% of employees see life insurance as 'extremely valuable'.
5. Higher job retention is associated with more benefit options.
6. 69% of businesses report growing financial health, but concerns about inflation and the economy persist.
7. 55% of businesses are expanding staff, and 70% of employees are seeing wage increases.

The survey highlights the importance of understanding employee needs and effective benefits communication.

Principal Financial Group® is collaborating with the New York International Children's Film Festival to bring ¡Hola Cine!, a curated collection of award-winning, family-friendly Latinx short films, to the Des Moines Art Center on September 15, 2024. The event, hosted by Principal Community Relations and the Principal Hispanic Employee Resource Group, celebrates Hispanic Heritage Month and is free and open to the public.

The program features six short films with a total runtime of 55 minutes, showcasing stories from across the Americas that highlight themes of family, perseverance, and magic. All films are in English or have English subtitles, making them accessible to a wide audience. This initiative aligns with Principal's commitment to connecting employees to the community and supporting financial education.