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Last $48.77 USD
Change Today +0.29 / 0.60%
Volume 564.5K
PFG On Other Exchanges
As of 1:59 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).

principal financial group (PFG) Snapshot

Previous Close
Day High
Day Low
52 Week High
08/14/15 - $58.02
52 Week Low
01/30/15 - $46.01
Market Cap
Average Volume 10 Days
Shares Outstanding
Dividend Yield

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principal financial group (PFG) Details

Principal Financial Group, Inc. provides retirement, asset management, and insurance products and services. It operates through Retirement and Investor Services, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments. The Retirement and Investor Services segment provides a portfolio of asset accumulation products and services for retirement savings and investment to businesses, institutional clients, and employees of business and other individuals. It offers products and services for defined contribution pension plans, including 401(k) and 403(b) plans, defined benefit pension plans, nonqualified executive benefit plans, and employee stock ownership plans; investment-only products; and annuities, mutual funds, and bank products. The Principal Global Investors segment provides equity, fixed income, real estate, and other alternative investments, as well as asset allocation, stable value management, and other structured investment strategies. The Principal International segment offers pension accumulation and income annuity products, mutual funds, asset management, and life insurance accumulation products, as well as voluntary savings plans in Brazil, Chile, China, Hong Kong SAR, India, Mexico, and the Southeast Asia. This segment also promotes and advises on retirement and long-term investment products. The U.S. Insurance Solutions segment provides individual life insurance products comprising universal and variable universal life insurance and traditional life insurance; and specialty benefits consisting of group dental and vision insurance, individual and group disability insurance, and group life insurance, as well as non-medical fee-for-service claims administration services in the United States. It also provides insurance solutions for small and medium-sized businesses and their owners, as well as executives. Principal Financial Group, Inc. was founded in 1879 and is headquartered in Des Moines, Iowa.

14,873 Employees
Last Reported Date: 02/11/15
Founded in 1879

principal financial group (PFG) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $592.8K
Executive Chairman, Chairman of The Principal...
Total Annual Compensation: $982.7K
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $523.1K
Chief Executive Officer of Principal Global I...
Total Annual Compensation: $629.6K
Chairman of Principal International Inc., Chi...
Total Annual Compensation: $559.1K
Compensation as of Fiscal Year 2014.

principal financial group (PFG) Key Developments

Lincoln Electric to Purchase Group Annuity Contract for Retiree Pension Benefits

The Lincoln Electric Company announced that it has entered into an agreement to purchase a group annuity contract from The Principal Financial Group to settle $425 million of Lincoln Electric’s approximate $900 million in outstanding U.S. pension obligations. Under the agreement, The Principal will assume the obligation to pay future pension benefits starting November 1, 2015, for specified U.S. retirees and surviving beneficiaries who retired on or before June 1, 2015 and are currently receiving payments from Lincoln Electric’s U.S. Retirement Annuity Program (RAP). Lincoln Electric has been committed to meeting its pension obligation responsibly. The Company has contributed $375 million to its pension plans over the last ten years and its U.S. pension plans are fully funded. The purchase of this group annuity contract allows the Company to secure pension benefits for its approximate 1,900 retirees, reduce volatility in pension costs and funding requirements, while maintaining a fully-funded plan for the remaining retiree obligations. The Principal was chosen by the RAP fiduciary with the advice of an independent expert after a rigorous evaluation process that reviewed several factors including financial strength, rating of the insurance company, plan administration and customer service capabilities.

The Principal Financial Group Announces Executive Changes

The Principal Financial Group announced the Board of Directors, as part of its planned succession process, has elected Daniel J. Houston president and chief executive officer effective August 18, 2015. Larry Zimpleman will continue to serve as executive chairman of the board and advise Dan as he takes on his new responsibilities. Houston joined the company in 1984. He was promoted to senior group and pension representative in 1986, and named group and pension consultant in 1988. He was named executive vice president in 2006, president of retirement and investor services in 2008, and chief operating officer in 2014.

Principal Corporate Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Principal Corporate reported earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company's negative operating revenues were $63 million against $64.4 million a year ago. Operating loss was $42.4 million against $33.4 million a year ago. Operating losses were impacted by an additional $10.0 million of expenses related to the preferred stock redemption in the second quarter. This was partially offset by the timing of certain expenses. For the six months, the company's negative operating revenues were $122.3 million against $102.2 million a year ago. Operating loss was $72.6 million against $66.4 million a year ago.


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Industry Average

Valuation PFG Industry Range
Price/Earnings 12.5x
Price/Sales 1.3x
Price/Book 1.5x
Price/Cash Flow 11.8x
TEV/Sales 0.5x

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