Principal Financial Group, Inc.
Built from real-time financials, refreshed daily. For a full Analyst Grade with bull/bear case, price targets, and qualitative risk analysis, generate a PFG research report →
Range $92 – $128
Price Chart
About the company
Principal Financial Group, Inc. engages in the investment management offering business. It offers financial products and services to businesses, individuals, and institutional clients.
- CEO
- Deanna Dawnette Strable-Soethout
- IPO
- 2001
- Employees
- 19,700
- HQ
- Des Moines, IA, US
AI snapshot
Six angles, distilled from the data.
The stock is in a constructive medium-term uptrend, trading above its 200-day average of 101.29 and near the upper end of its 52-week range. The setup is still range-bound below the 52-week high of 121.18, so shareholders should watch whether momentum can extend beyond the recent consolidation.
Street sentiment is cautious-to-balanced: the consensus is Hold with 5 Buys, 14 Holds, and 6 Sells. The average target sits near 109, below the latest close, while recent target moves have trended higher, including UBS to 120, Raymond James to 121, and Piper Sandler to 128.
The earnings profile has been solid, with 5 beats in the last 7 reported quarters and the most recent print topping estimates by 7.3%. Next-year EPS estimates have climbed to 10.41, so the key watch is whether management can keep the beat streak intact and support that upward revision trend.
No notable discretionary buying or selling. Recent activity is dominated by A-Award grants to directors and officers, which reads as routine compensation rather than a directional insider signal.
Profitability is healthy, with ROE at 12.95%, operating margin at 12.34%, and net margin at 9.93%. Growth is steady rather than explosive, with revenue up 6.4% year over year and earnings up 2.8%, while free cash flow reached 4.63 billion in 2025.
PFG looks like a steadier insurance-and-retirement compounder than a high-beta asset manager, with a 0.872 beta and a large net cash position of 29.54 billion. At 13.14x earnings, it trades at a moderate valuation for the financials group, not a deep discount.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $23.77B
- P/E
- 15.77
- Fwd P/E
- 11.56
- PEG
- 0.41
- P/S
- 1.51
- P/B
- 2.00
- EV/EBITDA
- 12.01
- Div Yield
- 2.93%
- Gross Margin
- 48.54%
- Op Margin
- 12.13%
- Net Margin
- 9.86%
- ROE
- 13.03%
- ROIC
- -19.29%
Latest fiscal year · YoY change
- Revenue
- $15.63B-3.1%
- Gross Profit
- $7.06B-4.0%
- Op Income
- $1.42B
- Net Income
- $1.19B-24.6%
- EPS
- $5.32-21.4%
- OCF Growth
- -1.4%
- FCF Growth
- -2.1%
- 52W High
- $121.18
- 52W Low
- $77.90
- 50D MA
- $113.74
- 200D MA
- $101.61
- Beta
- 0.87
- RSI (14)
- 40
- Avg Volume
- 1.38M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Principal Financial delivered a strong second quarter with double-digit EPS growth, margin expansion, and solid capital returns, while management highlighted retirement momentum and a benefits business that stayed very strong despite asset-management outflows.· July 28, 2026
- Adjusted EPS and operating earnings rose double digits year over year, above the high end of the company’s target range.
- Total company margin expanded 200 basis points on 6% net revenue growth, helped by underwriting improvement and stronger mortality in Benefits and Protection.
- Retirement fundamentals were healthy, with transfer deposits up 30% year over year and roll-ins of $1.7 billion in the quarter.
- Global Asset Management saw about $11 billion of net outflows, concentrated in a small number of U.S. active equity strategies.
- Principal returned $430 million of capital to shareholders in the quarter and increased the common dividend for the 13th consecutive quarter.
Non-GAAP operating earnings were $547 million, up 12% year over year, and EPS was $2.50, up 16%. Excluding significant variances, operating earnings were $529 million, up 13%, and EPS was $2.42, up 17%; total company margin was 32%, up 200 basis points, and non-GAAP operating ROE was 16.4%, up 120 basis points. Net income excluding exited business was $535 million, up 24%. For capital, Principal ended the quarter with over $1.6 billion of excess available capital and about 400% RBC, and it returned $427 million to shareholders in the quarter; year to date capital deployment was $800 million, and the company reaffirmed its full-year capital deployment target of $1.5 billion to $1.8 billion. Management also said the Beam Benefits deal does not change 2026 capital deployment, EPS growth targets, free capital flow, or ROE outlook.
Deanna Strable said the quarter showed the earnings power of Principal’s diversified model and execution across the enterprise. She emphasized momentum in retirement, SMB benefits, and global asset management, while noting that strong retirement participation trends, product expansion, and platform breadth are supporting growth. Her tone was confident and upbeat, but she also stressed portfolio discipline, capital framework consistency, and a high bar for M&A.
Joel Pitz highlighted $547 million of non-GAAP operating earnings, $2.50 EPS, 32% margin, and 16.4% operating ROE, all supported by 6% net revenue growth. He pointed to over $1.6 billion of excess available capital, about 400% RBC, and reiterated the $1.5 billion to $1.8 billion full-year capital deployment target. He also noted total managed AUM of $808 billion, up 5% from Q1 and 7% year over year, and said corporate losses remain elevated due to investment in the business, expecting the segment to finish at the high end of the target range.
Analysts focused on the Beam Benefits acquisition, the sustainability of asset-management outflows, and whether strong Benefits and Protection results could continue. Management said Beam is strategically aimed at expanding SMB reach, adding technology and distribution capabilities, and creating revenue and expense synergies, while not changing 2026 guidance; they also said the company’s capital position and back-half cash generation support the deal. On outflows, Kamal Bhatia said the roughly $11 billion of outflows were concentrated in a couple of U.S. active equity strategies, not broad-based, and that the environment remains unusual and difficult to time, though the committed not-funded pipeline is now around $10 billion.
The bull case is that Principal is producing strong earnings growth with margin expansion across a diversified portfolio, while retirement and benefits fundamentals remain healthy. Management also sounded confident that Beam Benefits can add SMB capabilities and that asset-management weakness is concentrated in a limited set of strategies rather than the whole platform.
The main bear case is that asset-management net flows were weak, with about $11 billion of outflows tied to a small number of U.S. active equity strategies, and management said the rest of the year could remain challenged. In Benefits and Protection, results were very strong, but management acknowledged some of that strength reflects favorable incidence and frequency trends that may not repeat at the same pace, while the Beam deal is still pending and not yet closed.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 99.4%
- Shares Outstanding
- 214.10M
- Float Shares
- 212.80M
of shares held by institutions
975 13F filers
Buy/sell ratio 2.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for PFG, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Alan ArmstrongSenate | Buy | Mar 27, 26 | Filing → |
| Lisa C. McClainHouse · MI09 | Sell | Oct 31, 25 | Filing → |
| Lisa C. McClainHouse · MI09 | Buy | Oct 30, 25 | Filing → |
| Lisa C. McClainHouse · MI09 | Sell | Oct 30, 25 | Filing → |
| Lisa C. McClainHouse · MI09 | Buy | Jun 17, 25 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Nov 3, 23 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Oct 10, 23 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Oct 31, 23 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Aug 3, 23 | Filing → |
| Kurt SchraderHouse · OR05 | Buy | Nov 11, 22 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Sep 6, 22 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Jul 18, 22 | Filing → |
| Dean PhillipsHouse · MN03 | Buy | Apr 2, 20 | Filing → |
| Gilbert Ray CisnerosHouse · CA31 | Sell | Mar 18, 20 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 26.97M | ▼ 162.25K |
| Blackrock, Inc. | 20.01M | ▼ 307.69K |
| Nippon Life Insurance Co | 18.14M | 0 |
| Vanguard Capital Management LLC | 13.48M | ▲ 5.26K |
| Vanguard Portfolio Management LLC | 11.27M | ▲ 1.18K |
| State Street Corp | 10.26M | ▲ 85.01K |
| Bank Of America Corp | 6.88M | ▼ 1.94M |
| Charles Schwab Investment Management Inc | 6.50M | ▲ 578.13K |
| Sixth Street Partners Management Company, L.P. | 6.50M | ▲ 6.50M |
| Capital World Investors | 6.04M | ▲ 13.12K |
| Geode Capital Management, LLC | 5.68M | ▲ 21.00K |
| Dimensional Fund Advisors LP | 3.92M | ▲ 36.77K |
Held by 1,724 ETFs
Biggest fund positions in PFG by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Sep 25, 26 | Auerbach Jonathan | other | 161 |
| Sep 25, 26 | Beams Mary E. | other | 105 |
| Sep 25, 26 | Muruzabal Claudio | other | 97 |
| Sep 25, 26 | Nordin Diane C | other | 211 |
| Sep 25, 26 | Pickerell Blair | other | 273 |
| Sep 25, 26 | Richer Clare Stack | other | 138 |
| Sep 25, 26 | Mitchell H Elizabeth | other | 78 |
| Sep 25, 26 | Carter Miller Jocelyn | other | 648 |
| Sep 25, 26 | RIVERA ALFREDO | other | 113 |
| Sep 25, 26 | RIVERA ALFREDO | other | 24 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our PFG coverage
Recent articles, reports, and earnings notes.

Principal Financial Group (PFG): Earnings Momentum Meets Flow Risk
Principal Financial Group posted strong second-quarter operating momentum, with EPS up 16% and managed AUM rising to $808B. But valuation and roughly $11B of quarterly net outflows keep the stock at a Hold.

Principal Financial Group, Inc. (PFG) falls 11.9% after hours
Principal Financial Group, Inc. (PFG) falls sharply in after-hours trading after a recent record high, with the move looking more like profit-taking and technical unwinding than a fresh earnings miss. The company still posted a solid EPS beat, and investors are waiting to see whether regular-session trading confirms the drop.

Principal Financial Group, Inc. (PFG) Gains on Earnings Deep Dive
Principal Financial Group, Inc. (PFG) gains after an earnings beat, but the real story is in the deeper analysis. This article examines the drivers behind the move, what the results reveal about margins and guidance, and whether the stock’s strength looks sustainable beyond the headline.
Want a deeper read on PFG?
Generate a full analyst-grade report — bull/bear case, price targets, valuation depth, and a complete financial breakdown.
Principal® to Announce Third Quarter 2026 Financial Results
gurufocus.com · Oct 1
Why Principal Financial (PFG) is a Top Dividend Stock for Your Portfolio
zacks.com · Sep 30
PFG vs. ALIZY: Which Stock Is the Better Value Option?
zacks.com · Sep 29
Is the Options Market Predicting a Spike in Principal Financial Stock?
zacks.com · Sep 28
Here's Why Principal Financial (PFG) is a Strong Value Stock
zacks.com · Sep 25
Comparing Principal Financial Group (NASDAQ:PFG) & American Integrity Insurance Group (NYSE:AII)
defenseworld.net · Sep 24
Here's Why Principal Financial (PFG) is a Strong Momentum Stock
zacks.com · Sep 23
3 Life Insurers to Watch as Annuity Sales Hit First-Half Record Highs
zacks.com · Sep 17
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed October 1, 2026 · Live quote · Not investment advice