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Principal Financial Group Inc
SWB:PG4

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Principal Financial Group Inc
SWB:PG4
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Price: 83 EUR Market Closed
Market Cap: €19.3B

Principal Financial Group Inc
Investor Relations

Principal Financial Group is a financial services company that helps employers and individuals save, invest, and protect income. Its main businesses include retirement plans for workers, asset management for institutions and individuals, and insurance products such as life, disability, and group benefits. It sells these services through employers, financial advisers, brokers, and other distribution partners. The company makes money mainly by charging fees on assets it manages, collecting administrative fees for running retirement plans, and earning premiums from its insurance products. In many cases, it earns income by managing long-term savings and retirement assets for customers, then taking a small slice for handling the money and providing the service. That makes Principal more of a fee-based financial platform than a traditional bank lender. What sets Principal apart is its strong role in workplace retirement and employee benefits. It sits in the middle of a customer’s savings life cycle: helping a company set up a retirement plan, helping workers invest through that plan, and then offering insurance and income protection tied to employment. This gives the business steady, recurring relationships with employers and households rather than one-time product sales.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
Apr 24, 2026
AI Summary
Q1 2026

Strong quarter: Principal reported 13% adjusted EPS growth in Q1, helped by favorable underwriting in Benefits and Protection and solid conditions in fee-based businesses.

Capital return: The company returned about $375 million to shareholders, including $200 million of buybacks, and raised the common dividend for the 12th straight quarter.

Retirement momentum: Retirement transfer deposits reached $12 billion, up 35% year over year, while recurring deposits also grew, showing continued strength in the retirement franchise.

Benefits strength: Specialty Benefits and Life both had unusually strong results, with management pointing to favorable mortality and better underwriting, while saying full-year results should still be viewed more conservatively.

Asset management mix: Investment Management posted record gross sales of $37 billion, but some U.S. equity redemptions held back net flows; management expects improvement as those redemptions normalize.

Outlook intact: Management said the quarter puts the company well on track to deliver its 2026 financial targets and did not signal any change to the broader outlook.

Key Financials
Adjusted earnings per share
13% growth
Operating earnings
$456 million
Operating earnings per share
$2.07
Operating ROE
16.1%
Margin
30%
Revenue growth
6%
Capital returned to shareholders
$375 million
Share repurchases
$200 million
Common dividend
$0.82
Excess and available capital
over $1.4 billion
Holding company capital
$800 million
Subsidiary capital
$300 million
Risk-based capital ratio
approximately 400%
Managed AUM
$770 billion
Net cash flow
negative $1.5 billion
RIS pretax operating earnings
$318 million
RIS operating margin
41.5%
RIS account value net cash flow
$1.8 billion
Retirement transfer deposits
$12 billion
Participants deferring
3% increase
Average deferrals
over 3%
Roll-ins
$1.7 billion
DCIO sales
$2 billion
DCIO sales trailing 12 months
nearly $8 billion
Investment Management gross sales
$37 billion
Investment Management net cash flow
$1.2 billion
Private markets net inflows
$400 million
Active ETF net inflows
$400 million
Active ETF net inflows trailing 12 months
$1.8 billion
International client net cash flow
$1.5 billion
International Pension AUM
$160 billion
International Pension net cash flow
$500 million
Brazil net inflows
$700 million
International Pension pretax operating earnings
$80 million
International Pension operating margin
48.5%
Benefits and Protection pretax operating earnings
$177 million
Specialty Benefits loss ratio
58.5%
Group Benefits pretax operating earnings
$140 million
Group Benefits loss ratio
16.2%
Life Insurance pretax operating earnings
$37 million
Life Insurance operating margin
15.6%
Total retirement transfer deposits
$12 billion
Asset management commitment pipeline
over $9 billion
Earnings Call Recording
Other Earnings Calls

Management

Ms. Amy Christine Friedrich
President of Benefits & Protection
No Bio Available
Mr. Vivek Agrawal
Executive VP, Chief Growth Officer & Senior Advisor
No Bio Available
Ms. Kathleen B. Kay
Executive VP & Chief Information Officer
No Bio Available
Mr. Humphrey Lee
VP & Head of Investor Relations
No Bio Available
Ms. Noreen M. Fierro
Senior VP and Enterprise Chief Ethics & Compliance Officer
No Bio Available
Ms. Natalie Lamarque
Executive VP, General Counsel & Company Secretary
No Bio Available
Ms. Bethany A. Wood
Executive VP & Chief Marketing Officer
No Bio Available
Mr. Jon N. Couture
Executive VP of Principal Global Services & Chief Human Resources Officer
No Bio Available
Mr. Luis Eduardo Valdes
Executive Chairman of Latin America
No Bio Available
Mr. Dennis Jon Menken C.F.A., CPA
Senior VP & Chief Investment Officer of Principal Life Insurance Company
No Bio Available

Contacts

Address
IOWA
Des Moines
711 High St
Contacts
+15152475111.0
www.principal.com
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