Principal Financial Group

OverviewSuggest Edit

Principal Financial Group is a financial investment management company. It operates in segments that include Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions. The company offers retirement, insurance, and asset management solutions serving businesses, individuals, and institutional customers.

TypePublic
Founded1879
HQDes Moines, IA, US
Websiteprincipal.com
Employee Ratings4
Overall CultureA+

Latest Updates

Employees (est.) (Dec 2021)18,600(+7%)
Job Openings644
Revenue (FY, 2021)$14.3 B(-3%)
Share Price (Jun 2022)$68.6(+6%)
Cybersecurity ratingAMore
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Key People/Management at Principal Financial Group

Daniel J. Houston

Daniel J. Houston

Chairman, President, Chief Executive Officer
Amy C. Friedrich

Amy C. Friedrich

President, U.S. Insurance Solutions
Christopher J. Littlefield

Christopher J. Littlefield

President - Retirement and Income Solutions
Deanna D. Strable

Deanna D. Strable

Executive Vice President, Chief Financial Officer
Kathleen B. Kay

Kathleen B. Kay

Executive Vice President and Chief Information Officer
Jon N. Couture

Jon N. Couture

Executive Vice President and Chief Human Resources Officer
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Principal Financial Group Office Locations

Principal Financial Group has offices in Des Moines, Las Condes, Hong Kong, Mumbai and in 5 other locations
Des Moines, IA, US (HQ)
711 High St
Las Condes, CL
Apoquindo 3600 Piso 10
Hong Kong, HK
30/F, Millennium City 6, 392 Kwun Tong Road, Kwun Tong, Kowloon
Mumbai, IN
Parinee Crescenzo, 1st floor, A Wing, Plot No. C – 38/39,G Block, Behind M, G Block BKC, C.A, Bandra Kurla Complex, Bandra East
Jakarta, ID
Lot 13, District 8, SCBD, Jl. Jend. sudirman kav 52-53, Senayan, Kec. Kby. Baru
Kuala Lumpur, MY
10th Floor Bangunan CIMB Jalan Semantan Damansara Heights
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Principal Financial Group Financials and Metrics

Principal Financial Group Revenue

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Principal Financial Group's revenue was reported to be $14.26 b in FY, 2021
USD

Revenue (Q1, 2022)

3.1b

Gross profit (Q1, 2022)

1.6b

Gross profit margin (Q1, 2022), %

52.3%

Net income (Q1, 2022)

380.7m

Market capitalization (24-Jun-2022)

18.2b

Closing stock price (24-Jun-2022)

68.6
Principal Financial Group's current market capitalization is $18.2 b.
Annual
USDFY, 2019FY, 2020FY, 2021

Revenue

16.2b14.7b14.3b

Revenue growth, %

14%(9%)

Cost of goods sold

10.0b8.4b7.2b

Gross profit

6.2b6.3b7.1b
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022

Revenue

3.7b4.0b4.5b4.6b3.1b3.3b3.2b3.5b3.4b3.1b

Cost of goods sold

2.2b2.5b2.9b2.9b1.6b1.9b1.4b1.8b1.8b1.5b

Gross profit

1.5b1.5b1.6b1.7b1.5b1.4b1.8b1.7b1.6b1.6b

Gross profit Margin, %

41%38%36%37%48%44%57%48%47%52%
Annual
USDFY, 2018FY, 2019FY, 2020FY, 2021

Cash

3.0b2.5b2.8b

Accounts Receivable

1.4b1.7b1.7b

PP&E

767.3m967.7m1.0b

Goodwill

1.1b1.7b1.7b1.6b
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q2, 2021

Cash

2.3b3315.9t3.2b3.5b3.2b3.6b2.4b

Accounts Receivable

1.6b1549.2t1.6b1.7b1.8b1.5b1.7b

PP&E

933.2m959.5t961.7m973.8m993.1m998.8m1.0b

Goodwill

1.1b1111.5t1.7b1.6b1.6b1.7b1.7b
Annual
USDFY, 2018FY, 2019FY, 2021

Net Income

1.6b1.4b1.8b

Depreciation and Amortization

205.1m226.8m275.3m

Cash From Operating Activities

5.2b5.5b3.2b

Purchases of PP&E

(92.3m)(132.4m)
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q2, 2021

Net Income

452.1m844.2t1.1b285.0m701.1m937.0m887.9m

Depreciation and Amortization

51.0m104.2t163.8m

Cash From Operating Activities

1.2b2678.4t4.5b1.6b2.0b3.1b1.1b

Purchases of PP&E

(29.4m)(65.4t)(98.1m)(18.0m)(46.4m)(82.9m)(45.8m)
USDFY, 2018

Debt/Equity

0.3 x

Financial Leverage

21.2 x
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Principal Financial Group Operating Metrics

Principal Financial Group's Assets Under Management was reported to be $806.6b in FY, 2020. Principal Financial Group's Customers was reported to be 24.2 m in FY, 2018.
FY, 2018FY, 2019FY, 2020

Assets Under Management

$626.8 b$735.3 b$806.6 b

Countries

86

Customers

24.2 m

Principal Financial Group Acquisitions / Subsidiaries

Company NameDateDeal Size
Wells Fargo & Company - Institutional Retirement & Trust businessJuly 01, 2019$1.2 b
RobustWealthMay 30, 2018
Cuprum AFPFebruary 04, 2013
Administradora de Fondos de Pensiones Cuprum S.A.
Brasilprev Seguros e Previdencia S.A.
CCB Principal Asset Management Co., Ltd.
Ciclic Corretora de Seguros S.A.
CIMB Wealth Advisors Berhad
Claritas Administração de Recursos Ltda.
Claritas Investments Ltd.
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Principal Financial Group Revenue Breakdown

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Principal Financial Group revenue breakdown by business segment: 12.6% from Principal Global Investors, 9.3% from Principal International, 45.0% from Retirement and Income Solutions, 33.0% from U.S. Insurance Solutions and 0.0% from Other

Human Capital Metrics

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Principal Financial Group Cybersecurity Score

Cybersecurity ratingPremium dataset

A

97/100

SecurityScorecard logo

Principal Financial Group Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

60-79

out of 100

CSRHub logo

Principal Financial Group Online and Social Media Presence

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Principal Financial Group Company Culture

  • Overall Culture

    A+

    80/100

  • CEO Rating

    A+

    80/100

  • Compensation

    A

    79/100

  • Diversity

    A+

    87/100

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Principal Financial Group News and Updates

Principal Financial Group Stock Has Gained 7% In A Week: Is More To Come?

Principal Financial Group stock, which is an American global financial investment management, and insurance company, has gained 7.3% in the last week. But will the company’s stock continue to rise over the coming weeks, or is a drop in the stock imminent? Based on trends in the company’s stock...

Principal Financial Group signals it will cut some Des Moines positions amid restructuring

Principal Financial Group is laying off some Des Moines workers as the company shutters some of its lines of business.

Principal Financial Group® issues $600 million sustainability bond

Principal Financial Group® issued its first sustainability bond on August 16 in the amount of $600 million as part of the company’s commitment to integrating and advancing Environmental, Social, and Governance (ESG) practices and initiatives in its organization and operations.

Principal® completes integration of Wells Fargo Institutional Retirement business

Principal Financial Group®, a global leader in retirement plan services and investment management, recently completed the integration of the Wells Fargo Institutional Retirement business

Principal® launches tailored EMD fund for Australian institutional market

Principal Global Investors®, a leading asset management firm with over US$576.8 billion in assets under management, today announced the launch of its new, total return emerging market debt (EMD) Fund specifically designed to meet Australian institutional investor demand for yield-oriented solutions

Principal Financial Group® Announces Second Quarter 2021 Results

Net income attributable to PFG for second quarter 2021 of $361.8 million, compared to $398.3 million for second quarter 2020. Net income per diluted share of $1.32 for second quarter 2021 compared to $1.45 in the prior year quarter
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Principal Financial Group Blogs

Principal® rated No. 1 for online group benefits administration

Principal® rated No. 1 for online group benefits administration May 25, 2022 Principal Financial Group® was rated No. 1 in Group Benefits for employer web capabilities and experience by DALBAR, Inc. (DALBAR) for eService, its group benefits employer website.

Principal® lists first semi-transparent ETF on NYSE

Principal® lists first semi-transparent ETF on NYSE May 19, 2022 Principal Global Investors® announced the Principal Real Estate Active Opportunities ETF (Ticker: BYRE), the firm’s first semi-transparent ETF, is available for trading upon today’s market open of the Ne…

Principal Financial Group® names H. Elizabeth Mitchell to Board of Directors

Principal Financial Group® names H. Elizabeth Mitchell to Board of Directors May 18, 2022 Principal Financial Group® (Nasdaq: PFG) announced today that H. Elizabeth Mitchell, former president and chief executive officer of Renaissance Reinsurance U.S., has been electe…

Principal® earns ENERGY STAR® Partner of the Year Sustained Excellence Award

Principal® earns ENERGY STAR® Partner of the Year Sustained Excellence Award May 10, 2022 Principal Real Estate Investors, the real estate investment team of Principal Global Investors®, has been named an ENERGY STAR® Partner of the Year Sustained Excellence award win…

Principal® named to Forbes list of Best Employers for Diversity 2022

Principal® named to Forbes list of Best Employers for Diversity 2022 May 6, 2022 Principal Financial Group® was named to the Forbes list of America’s Best Employers for Diversity 2022. 

Principal® taps industry veteran to lead liability-driven investing capability for pension plans

Principal® taps industry veteran to lead liability-driven investing capability for pension plans May 5, 2022 Principal Financial Group® announced today the addition of Owais Rana to its global asset management business, Principal Global Investors®, as head of liabilit…
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Principal Financial Group Frequently Asked Questions

  • When was Principal Financial Group founded?

    Principal Financial Group was founded in 1879.

  • Who are Principal Financial Group key executives?

    Principal Financial Group's key executives are Daniel J. Houston, Amy C. Friedrich and Christopher J. Littlefield.

  • How many employees does Principal Financial Group have?

    Principal Financial Group has 18,600 employees.

  • What is Principal Financial Group revenue?

    Latest Principal Financial Group annual revenue is $14.3 b.

  • What is Principal Financial Group revenue per employee?

    Latest Principal Financial Group revenue per employee is $766.8 k.

  • Who are Principal Financial Group competitors?

    Competitors of Principal Financial Group include Fidelity Investments, Lincoln Financial Group and Brookfield Asset Management.

  • Where is Principal Financial Group headquarters?

    Principal Financial Group headquarters is located at 711 High St, Des Moines.

  • Where are Principal Financial Group offices?

    Principal Financial Group has offices in Des Moines, Las Condes, Hong Kong, Mumbai and in 5 other locations.

  • How many offices does Principal Financial Group have?

    Principal Financial Group has 9 offices.