The Iowa-based
Principal Financial Group (PFG) has been in the news for both positives and setbacks. The company boasts
73% institutional backing and has rewarded its shareholders with
11% CAGR in the last five years. Reports indicate PFG announced the appointment of
new CEO, Deanna Strable after a $7B Growth Era. PFG recently reported
$712.1B and $740.6B in Assets Under Management in consecutive quarters. Notwithstanding a downgrade by Morgan Stanley amid a slow growth outlook, JP Morgan gave them an upgraded rating believing in their fee pressures ease, and improved outlook. The firm's
2023 sustainability report stressed on integrating sustainable investing practices, growth in diversity, and their philanthropic philosophy. However, they have faced challenges with higher operational costs, which resulted in missed Q3 expectations and also reported a net loss of $220M in Q3 earnings. On the brighter side, they are poised to make a comeback with
Strategy Updates Coming in 2024 Investor Day. Strable's appointment aligns with their commitment to advancing global inclusion. This confirms PFG's statement of
continuous growth amid economic fluctuations.
Principal Financial Group PFG News Analytics from Sat, 02 Mar 2024 09:30:20 GMT to Sat, 01 Feb 2025 04:00:13 GMT -
Rating 2
- Innovation 1
- Information 6
- Rumor -3
