Principal Financial Group, Inc.
NASDAQCapital Structure
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in mil. unless spec.Company Description
- CEO
- Deanna Dawnette Strable-Soethout
- Full Time Employees
- 19,700
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 711 High Street Des Moines IA United States of America 50392
- IPO Date
- Oct 23, 2001
- CIK
- 0001126328
- Website
- principal.com
- Similar Companies
- Business
- Principal Financial Group, Inc. (PFG) is a global financial services company providing retirement and income solutions, asset management, insurance products, and workplace benefits and protection services to businesses, individuals, and institutional clients. The company offers a comprehensive suite of core products and services, including workplace savings and retirement plans such as 401(k)s, pension risk transfer, employee stock ownership plans (ESOPs), individual variable annuities and registered index-linked annuities (RILAs), banking, trust and custodial services; specialized asset management across equities, fixed income, real estate, and alternative investments through Principal Global Investors; life and health insurance, wellness programs, and group benefits; as well as investment-only platforms and global retirement solutions. Principal operates through key segments comprising Retirement and Income Solutions, Principal Asset Management, Principal International, and Benefits & Protection, with a focus on small and mid-sized businesses, the broad retirement ecosystem, and global institutional investors. Founded in 1879 and headquartered in Des Moines, Iowa, Principal Financial Group maintains a global footprint with nearly 20,000 employees across 27 nations and territories in North America, Latin America, Asia, Australia, Europe, and the Middle East, including key locations such as Sao Paulo, Santiago, Mexico City, Beijing, Hong Kong, Jakarta, Sydney, London, and Dubai. The company supports its operations through subsidiaries like Principal Securities, Inc., a retail broker-dealer and registered investment adviser, and Principal Bank, which specializes in FDIC-insured individual retirement accounts. In recent developments, Principal acquired Ascensus' employee stock ownership plan (ESOP) business in May 2024, adding approximately 800 plans, over 165,000 participants, the ESOP Economics consulting group, and Telescope software to enhance its recordkeeping, forecasting, and service capabilities, solidifying its position as the leading U.S. ESOP provider. The company formed a strategic partnership with Barings in 2025 for a $1 billion private investment-grade portfolio finance initiative, managed primarily by Principal Asset Management, to expand its general account portfolio and leverage expertise in structured credit. Additionally, Principal closed a $3.64 billion fundraise for its Data Center Growth & Income Fund in early 2025, targeting hyperscale data center developments across the U.S. to capitalize on AI and cloud computing demand, while announcing strong 2024 results with $1.7 billion returned to shareholders, including $1.0 billion in share repurchases, and authorizing a new $1.5 billion repurchase program. These moves reflect Principal's focus on growth in high-potential areas like retirement solutions, alternative investments, and digital infrastructure amid robust assets under management reaching $712 billion.
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