Principal Financial Group
Administers retirement plans, manages investments, and insures employer benefits.
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Profile
Provides workplace retirement administration, pension risk transfer, investment management, and employer benefits and insurance. Fees track plan and managed assets, while insurance results reflect premiums, claims, interest rates, and regulation; the platform centers on small and midsized employers and retirement-plan relationships.
Runs workplace retirement plans, investment mandates, and employer benefits through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection. Retirement and Income Solutions combines plan recordkeeping with pension risk transfer, annuities, investment-only contracts, and bank, trust, and custody services. Principal Asset Management earns fees on equity, fixed income, real estate, and alternative strategies for institutions, retirement plans, retail investors, and high-net-worth clients in the U.S. and selected international markets.
Uses employer relationships and retirement recordkeeping to connect administration, investment, and insurance products. Benefits and Protection focuses on dental, life, disability, supplemental health, and business-market life insurance, primarily for small and midsized employers. Results depend on account values, assets under management, benefit demand, insurance claims, interest rates, financial-strength ratings, and retirement and insurance regulation.
Company facts
Categories
Key statistics
Year to date +24.6% · Average volume (30d) 1.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | Raymond James | Reiterate | Outperform | $111 | $121 | |
| Jul 22, 2026 | Wells Fargo | Reiterate | Equal Weight | $85 | $113 | |
| Jul 15, 2026 | Atlantic Equities | Target | $94 | |||
| Jul 10, 2026 | Jefferies | Reiterate | Hold | $76 | $98 | |
| Jul 7, 2026 | Barclays | Reiterate | Underweight | $87 | $92 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 27, 2026Q2 FY26 | $2.34 | $2.50 | +6.8% | $4.14B | $4.00B | −3.4% | +2.52% |
| Apr 23, 2026Q1 FY26 | $2.01 | $2.07 | +3.0% | $4.12B | $3.52B | −14.6% | +2.41% |
| Feb 9, 2026Q4 FY25 | $2.23 | $2.19 | −1.8% | $4.12B | $4.46B | +8.1% | −2.39% |
| Oct 27, 2025Q3 FY25 | $2.20 | $2.10 | −4.5% | $4.14B | $3.68B | −11.2% | +3.31% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.70B | $3.67B | $3.68B | $4.58B | $3.53B | $3.91B | |
| Gross profit | $1.44B | $1.82B | $1.65B | $2.15B | $1.90B | $1.91B | |
| Operating income | $28.9M | $503.1M | $248.4M | $635.6M | $522.9M | $496.3M | |
| Net income | $48.1M | $406.2M | $213.8M | $517.0M | $412.9M | $403.4M | |
| Diluted EPS | $0.21 | $1.79 | $0.94 | $2.32 | $1.93 | $1.84 | |
| Gross margin | 38.9% | 49.6% | 44.9% | 46.9% | 53.9% | 49.0% | |
| Operating margin | 0.8% | 13.7% | 6.7% | 13.9% | 14.8% | 12.7% |
Fiscal years (4-quarter sums)FY21 $14.26B · FY22 $17.51B · FY23 $13.67B · FY24 $16.13B · FY25 $15.63B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $5.26B · Total debt $4.34B · Total assets $352.75B · Shareholders' equity $12.14B
Dividends
Raised for 17 straight years — most recently to $0.82 from $0.80 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 1, 2026 | Jun 1 | Jun 26 | $0.82 | raised from $0.80 |
| Mar 11, 2026 | Mar 11 | Mar 27 | $0.80 | raised from $0.79 |
| Dec 3, 2025 | Dec 3 | Dec 19 | $0.79 | raised from $0.78 |
| Sep 4, 2025 | Sep 4 | Sep 26 | $0.78 | raised from $0.76 |
| Jun 2, 2025 | Jun 2 | Jun 27 | $0.76 | raised from $0.75 |
| Mar 12, 2025 | Mar 12 | Mar 28 | $0.75 | raised from $0.73 |
| Dec 2, 2024 | Dec 2 | Dec 18 | $0.73 | raised from $0.72 |
| Sep 5, 2024 | Sep 5 | Sep 27 | $0.72 | raised from $0.71 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 214.11M · Float 212.80M · 99.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 20.01M | 9.35% | 13F | Aug 7, 2026 |
| Nippon Life Insurance Co | 18.14M | 8.47% | 13F | Jul 13, 2026 |
| Vanguard Capital Management LLC | 13.48M | 6.30% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 11.27M | 5.26% | 13F | Aug 13, 2026 |
| State Street Corp | 10.26M | 4.79% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 21, 2026 | Wee Yee Cheong | officer: President - Asia & Middle East | −7,534 | $103.16 |
| May 20, 2026 | Wee Yee Cheong | officer: President - Asia & Middle East | −3,211 | $103.06 |
| May 1, 2026 | Wee Yee Cheong | officer: President - Asia & Middle East | −9,183 | $101.26 |
| Apr 30, 2026 | Wee Yee Cheong | officer: President - Asia & Middle East | −4,737 | $101.01 |
| Apr 30, 2026 | George Djurasovic | officer: Interim General Counsel | −1 | $99.63 |
Peers
- Voya
Workplace retirement, benefits, and investment-management overlap
- Prudential Financial
Retirement, group insurance, life, and PGIM asset-management overlap
- Lincoln Financial
Annuities, retirement plans, life, and group protection overlap
- MetLife
Group benefits, RIS, and institutional asset management overlap
- Unum Group
Group disability, life, voluntary, dental, and vision overlap
- Ameriprise Financial
Asset management and retirement/protection products overlap
- Equitable
Retirement, wealth, and AllianceBernstein asset-management overlap
- T. Rowe Price
Target-date, DC recordkeeping, and asset-management overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Principal Financial Group | $111.41 | 0.00% | $23.85B | 15.8 | 11.2 | 1.5 | +8.8% |
| Voya | $102.55 | −0.02% | $9.30B | 17.4 | 9.7 | 2.5 | +3.2% |
| Prudential Financial | $119.79 | +0.01% | $41.57B | 10.8 | 8.5 | 0.6 | +2.8% |
| Lincoln Financial | $43.25 | −0.07% | $8.29B | 3.7 | 5.3 | 0.4 | +21.2% |
| MetLife | $97.91 | +1.46% | $62.10B | 18.5 | 9.2 | 0.8 | +10.0% |
| Unum Group | $93.38 | +0.31% | $14.73B | 21.7 | 10.4 | 1.1 | −13.8% |
| Ameriprise Financial | $564.76 | +0.97% | $50.28B | 13.5 | 11.4 | 2.5 | +14.6% |
| Equitable | $49.68 | −1.04% | $13.70B | — | 6.2 | 1.3 | −29.8% |
| T. Rowe Price | $111.60 | +0.32% | $23.84B | 11.2 | 10.8 | 3.1 | +10.7% |
| Median | 13.5 | 9.4 | 1.2 | +6.6% |