Principal Financial (PFG)
Market Price (8/4/2026): $115.105 | Market Cap: $24.9 BilInvestor Relations Sector: Financials | Industry: Life & Health Insurance
Principal Financial (PFG)
Market Price (8/4/2026): $115.105Market Cap: $24.9 BilSector: FinancialsIndustry: Life & Health Insurance
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.1%, Dividend Yield is 2.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.7%, FCF Yield is 20% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -116% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31%, CFO LTM is 5.0 Bil, FCF LTM is 4.9 Bil Stock buyback supportStock Buyback 3Y Total is 2.9 Bil Low stock price volatilityVol 12M is 22% Megatrend and thematic driversMegatrends include Fintech & Digital Payments, AI in Financial Services, and Sustainable Finance. Themes include Wealth Management Technology, Show more. | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% Weak multi-year price returns3Y Excs Rtn is -13% | Key risksPFG key risks include [1] persistent net outflows and [2] underperformance in its asset management business. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.1%, Dividend Yield is 2.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.7%, FCF Yield is 20% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -116% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31%, CFO LTM is 5.0 Bil, FCF LTM is 4.9 Bil |
| Stock buyback supportStock Buyback 3Y Total is 2.9 Bil |
| Low stock price volatilityVol 12M is 22% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, AI in Financial Services, and Sustainable Finance. Themes include Wealth Management Technology, Show more. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Weak multi-year price returns3Y Excs Rtn is -13% |
| Key risksPFG key risks include [1] persistent net outflows and [2] underperformance in its asset management business. |
Qualitative Assessment
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Updated on 8/1/2026
Principal Financial (PFG) stock has gained about 15% since 4/30/2026 because of the following key factors:
1. Principal Financial Group reported strong fiscal Q2 2026 earnings that surpassed analyst expectations and provided a positive outlook. The company posted earnings per share (EPS) of $2.50 for the fiscal second quarter ended June 30, 2026, exceeding the consensus estimate of $2.33 by $0.17. This represented a 17% increase in non-GAAP operating earnings per diluted share over the prior year's quarter. Management attributed this robust performance to effective execution of strategic priorities and growth across its diversified business model, including positive results in retirement, benefits, and asset management segments. The company also reaffirmed its full-year 2026 capital deployment target of $1.5 billion to $1.8 billion and maintained its EPS growth targets, signaling continued confidence in its future profitability.
2. Increased shareholder returns through dividend hikes and share repurchases bolstered investor confidence. Principal Financial Group announced an increase in its fiscal Q3 2026 common stock dividend by $0.02 to $0.84 per share, marking an 8% increase compared to the prior year's fiscal Q3 dividend. This action reinforced the company's commitment to its target 40% dividend payout ratio. Furthermore, PFG returned $427 million of capital to shareholders in fiscal Q2 2026, which included $250 million dedicated to share repurchases. These moves demonstrated the company's financial strength and commitment to delivering value to its shareholders.
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Principal Financial (PFG) stock has gained about 15% since 4/30/2026 because of the following key factors:
1. Principal Financial Group reported strong fiscal Q2 2026 earnings that surpassed analyst expectations and provided a positive outlook. The company posted earnings per share (EPS) of $2.50 for the fiscal second quarter ended June 30, 2026, exceeding the consensus estimate of $2.33 by $0.17. This represented a 17% increase in non-GAAP operating earnings per diluted share over the prior year's quarter. Management attributed this robust performance to effective execution of strategic priorities and growth across its diversified business model, including positive results in retirement, benefits, and asset management segments. The company also reaffirmed its full-year 2026 capital deployment target of $1.5 billion to $1.8 billion and maintained its EPS growth targets, signaling continued confidence in its future profitability.
2. Increased shareholder returns through dividend hikes and share repurchases bolstered investor confidence. Principal Financial Group announced an increase in its fiscal Q3 2026 common stock dividend by $0.02 to $0.84 per share, marking an 8% increase compared to the prior year's fiscal Q3 dividend. This action reinforced the company's commitment to its target 40% dividend payout ratio. Furthermore, PFG returned $427 million of capital to shareholders in fiscal Q2 2026, which included $250 million dedicated to share repurchases. These moves demonstrated the company's financial strength and commitment to delivering value to its shareholders.
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Updated on 8/1/2026
Principal Financial (PFG) stock has gained about 15% since 4/30/2026 because of the following key factors:
1. Principal Financial Group reported strong fiscal Q2 2026 earnings that surpassed analyst expectations and provided a positive outlook. The company posted earnings per share (EPS) of $2.50 for the fiscal second quarter ended June 30, 2026, exceeding the consensus estimate of $2.33 by $0.17. This represented a 17% increase in non-GAAP operating earnings per diluted share over the prior year's quarter. Management attributed this robust performance to effective execution of strategic priorities and growth across its diversified business model, including positive results in retirement, benefits, and asset management segments. The company also reaffirmed its full-year 2026 capital deployment target of $1.5 billion to $1.8 billion and maintained its EPS growth targets, signaling continued confidence in its future profitability.
2. Increased shareholder returns through dividend hikes and share repurchases bolstered investor confidence. Principal Financial Group announced an increase in its fiscal Q3 2026 common stock dividend by $0.02 to $0.84 per share, marking an 8% increase compared to the prior year's fiscal Q3 dividend. This action reinforced the company's commitment to its target 40% dividend payout ratio. Furthermore, PFG returned $427 million of capital to shareholders in fiscal Q2 2026, which included $250 million dedicated to share repurchases. These moves demonstrated the company's financial strength and commitment to delivering value to its shareholders.
3. A favorable macroeconomic environment and positive analyst sentiment supported the stock's upward trend. The broader market experienced significant gains during fiscal Q2 2026, primarily driven by strong corporate profit growth that surpassed investor expectations and an improvement in investor sentiment due to easing geopolitical tensions and lower oil prices. This overall positive market backdrop likely contributed to PFG's stock appreciation. Additionally, several financial analysts raised their price targets for Principal Financial Group throughout the period, with some firms, such as Piper Sandler, increasing their price target to $125.00 with an "overweight" rating in fiscal Q2 2026. This upward revision in price targets reflected growing analyst confidence in the company's prospects.
Show less
Principal Financial (PFG) stock has gained about 15% since 4/30/2026 because of the following key factors:
1. Principal Financial Group reported strong fiscal Q2 2026 earnings that surpassed analyst expectations and provided a positive outlook. The company posted earnings per share (EPS) of $2.50 for the fiscal second quarter ended June 30, 2026, exceeding the consensus estimate of $2.33 by $0.17. This represented a 17% increase in non-GAAP operating earnings per diluted share over the prior year's quarter. Management attributed this robust performance to effective execution of strategic priorities and growth across its diversified business model, including positive results in retirement, benefits, and asset management segments. The company also reaffirmed its full-year 2026 capital deployment target of $1.5 billion to $1.8 billion and maintained its EPS growth targets, signaling continued confidence in its future profitability.
2. Increased shareholder returns through dividend hikes and share repurchases bolstered investor confidence. Principal Financial Group announced an increase in its fiscal Q3 2026 common stock dividend by $0.02 to $0.84 per share, marking an 8% increase compared to the prior year's fiscal Q3 dividend. This action reinforced the company's commitment to its target 40% dividend payout ratio. Furthermore, PFG returned $427 million of capital to shareholders in fiscal Q2 2026, which included $250 million dedicated to share repurchases. These moves demonstrated the company's financial strength and commitment to delivering value to its shareholders.
3. A favorable macroeconomic environment and positive analyst sentiment supported the stock's upward trend. The broader market experienced significant gains during fiscal Q2 2026, primarily driven by strong corporate profit growth that surpassed investor expectations and an improvement in investor sentiment due to easing geopolitical tensions and lower oil prices. This overall positive market backdrop likely contributed to PFG's stock appreciation. Additionally, several financial analysts raised their price targets for Principal Financial Group throughout the period, with some firms, such as Piper Sandler, increasing their price target to $125.00 with an "overweight" rating in fiscal Q2 2026. This upward revision in price targets reflected growing analyst confidence in the company's prospects.
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Stock Movement Drivers
Fundamental Drivers
The 15.0% change in PFG stock from 4/30/2026 to 8/3/2026 was primarily driven by a 14.5% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 8032026 | Change |
|---|---|---|---|
| Stock Price ($) | 100.11 | 115.13 | 15.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15,459 | 15,693 | 1.5% |
| Net Income Margin (%) | 10.1% | 9.9% | -1.7% |
| P/E Multiple | 13.9 | 15.9 | 14.5% |
| Shares Outstanding (Mil) | 217 | 216 | 0.6% |
| Cumulative Contribution | 15.0% |
Market Drivers
4/30/2026 to 8/3/2026| Return | Correlation | |
|---|---|---|
| PFG | 15.0% | |
| Market (SPY) | 5.4% | 2.4% |
| Sector (XLF) | 10.1% | 61.7% |
Fundamental Drivers
The 23.6% change in PFG stock from 1/31/2026 to 8/3/2026 was primarily driven by a 21.1% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 8032026 | Change |
|---|---|---|---|
| Stock Price ($) | 93.13 | 115.13 | 23.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15,801 | 15,693 | -0.7% |
| Net Income Margin (%) | 10.0% | 9.9% | -0.3% |
| P/E Multiple | 13.2 | 15.9 | 21.1% |
| Shares Outstanding (Mil) | 222 | 216 | 3.0% |
| Cumulative Contribution | 23.6% |
Market Drivers
1/31/2026 to 8/3/2026| Return | Correlation | |
|---|---|---|
| PFG | 23.6% | |
| Market (SPY) | 9.8% | 35.4% |
| Sector (XLF) | 7.9% | 69.6% |
Fundamental Drivers
The 53.4% change in PFG stock from 7/31/2025 to 8/3/2026 was primarily driven by a 31.9% change in the company's Net Income Margin (%).| (LTM values as of) | 7312025 | 8032026 | Change |
|---|---|---|---|
| Stock Price ($) | 75.07 | 115.13 | 53.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15,131 | 15,693 | 3.7% |
| Net Income Margin (%) | 7.5% | 9.9% | 31.9% |
| P/E Multiple | 14.8 | 15.9 | 8.0% |
| Shares Outstanding (Mil) | 224 | 216 | 3.8% |
| Cumulative Contribution | 53.4% |
Market Drivers
7/31/2025 to 8/3/2026| Return | Correlation | |
|---|---|---|
| PFG | 53.4% | |
| Market (SPY) | 20.9% | 39.2% |
| Sector (XLF) | 10.9% | 65.5% |
Fundamental Drivers
The 60.5% change in PFG stock from 7/31/2023 to 8/3/2026 was primarily driven by a 290.6% change in the company's P/E Multiple.| (LTM values as of) | 7312023 | 8032026 | Change |
|---|---|---|---|
| Stock Price ($) | 71.75 | 115.13 | 60.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 17,260 | 15,693 | -9.1% |
| Net Income Margin (%) | 24.8% | 9.9% | -59.9% |
| P/E Multiple | 4.1 | 15.9 | 290.6% |
| Shares Outstanding (Mil) | 243 | 216 | 12.7% |
| Cumulative Contribution | 60.5% |
Market Drivers
7/31/2023 to 8/3/2026| Return | Correlation | |
|---|---|---|
| PFG | 60.5% | |
| Market (SPY) | 71.4% | 59.4% |
| Sector (XLF) | 69.7% | 76.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PFG Return | 51% | 20% | -3% | 2% | 18% | 31% | 179% |
| Peers Return | 39% | -8% | 9% | 22% | 10% | 18% | 120% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 99% |
Monthly Win Rates [3] | |||||||
| PFG Win Rate | 67% | 58% | 50% | 58% | 75% | 75% | |
| Peers Win Rate | 67% | 47% | 53% | 62% | 55% | 52% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 38% | |
Max Drawdowns [4] | |||||||
| PFG Max Drawdown | -11% | -21% | -29% | -17% | -21% | -12% | |
| Peers Max Drawdown | -15% | -32% | -28% | -16% | -25% | -21% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MET, PRU, AMP, LNC, VOYA. See PFG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/3/2026 (YTD)
How Low Can It Go
| Event | PFG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -18.6% | -18.8% |
| % Gain to Breakeven | 22.8% | 23.1% |
| Time to Breakeven | 177 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -10.6% | -7.8% |
| % Gain to Breakeven | 11.8% | 8.5% |
| Time to Breakeven | 39 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -18.6% | -9.5% |
| % Gain to Breakeven | 22.8% | 10.5% |
| Time to Breakeven | 140 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -28.3% | -6.7% |
| % Gain to Breakeven | 39.5% | 7.1% |
| Time to Breakeven | 497 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -14.9% | -24.5% |
| % Gain to Breakeven | 17.5% | 32.4% |
| Time to Breakeven | 26 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -56.3% | -33.7% |
| % Gain to Breakeven | 128.6% | 50.9% |
| Time to Breakeven | 297 days | 140 days |
In The Past
Principal Financial's stock fell -18.6% during the 2025 US Tariff Shock. Such a loss loss requires a 22.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | PFG | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -28.3% | -6.7% |
| % Gain to Breakeven | 39.5% | 7.1% |
| Time to Breakeven | 497 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -56.3% | -33.7% |
| % Gain to Breakeven | 128.6% | 50.9% |
| Time to Breakeven | 297 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -30.6% | -19.2% |
| % Gain to Breakeven | 44.0% | 23.8% |
| Time to Breakeven | 189 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -39.5% | -12.2% |
| % Gain to Breakeven | 65.4% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -34.0% | -6.8% |
| % Gain to Breakeven | 51.5% | 7.3% |
| Time to Breakeven | 230 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.8% | -17.9% |
| % Gain to Breakeven | 36.6% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -25.4% | -15.4% |
| % Gain to Breakeven | 34.0% | 18.2% |
| Time to Breakeven | 155 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -91.5% | -53.4% |
| % Gain to Breakeven | 1075.7% | 114.4% |
| Time to Breakeven | 2803 days | 1085 days |
In The Past
Principal Financial's stock fell -18.6% during the 2025 US Tariff Shock. Such a loss loss requires a 22.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Principal Financial (PFG)
Principal Financial Group (PFG) is a global financial services company providing a comprehensive suite of retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company helps clients plan for their financial future, manage investments, and protect against various risks.
A significant portion of PFG's business focuses on retirement and income solutions, offering products such as 401(k) and 403(b) plans, defined benefit plans, and individual retirement accounts (IRAs) to aid employees and individuals in saving for retirement. Through its Principal Global Investors segment, the company provides specialized asset management, encompassing equity, fixed income, real estate, and alternative investments for institutional clients. Globally, Principal International extends these services, offering pension accumulation products, mutual funds, and life insurance in growing markets across Brazil, Chile, Mexico, China, India, and Southeast Asia.
In the U.S., PFG's insurance solutions segment delivers a range of specialty benefits including group dental, vision, life, and disability insurance. It also provides various individual life insurance products, such as universal, variable universal, and term life. These insurance offerings are tailored for small and medium-sized businesses, their owners, executives, and individuals seeking financial protection and security.
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Here are 1-3 brief analogies for Principal Financial (PFG):
- Like Prudential Financial, offering retirement, asset management, and various insurance products and services.
- A blend of Fidelity's retirement and investment services, with the comprehensive insurance offerings of MetLife.
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- Retirement Plans and Services: Provides comprehensive solutions for defined contribution and defined benefit plans, individual retirement accounts, and pension risk transfer services.
- Asset Management: Offers diverse investment strategies across equities, fixed income, real estate, and alternative assets, along with asset allocation and structured investment products globally.
- Life Insurance: Delivers a variety of individual (universal, variable, indexed, term) and group life insurance products.
- Disability Insurance: Provides both group and individual disability income protection.
- Specialty Group Benefits: Includes group dental and vision insurance, along with administrative services for these benefits.
- Annuities: Offers individual variable annuities and income annuities designed for savings accumulation and retirement income.
- Executive Benefit Plans: Designs and administers nonqualified executive benefit plans, employee stock ownership plans, and equity compensation programs for businesses.
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Major Customers of Principal Financial (PFG)
Principal Financial Group, Inc. serves a broad and diverse client base rather than having a few identifiable major customer companies. Its customer base can be categorized as follows:
- Businesses and Employers: This category includes small, medium, and large businesses that utilize Principal for employee benefits and retirement solutions. This involves offering defined contribution plans (such as 401(k) and 403(b) plans), defined benefit pension plans, nonqualified executive benefit plans, employee stock ownership plans, and pension risk transfer services. Additionally, Principal provides group insurance solutions like group dental, vision, life, and disability insurance, as well as insurance solutions tailored for small and medium-sized business owners and executives.
- Individuals: Principal serves individuals seeking personal financial planning and protection products. This includes individual retirement accounts (IRAs), mutual funds, individual variable annuities, and various individual life insurance products (universal, variable universal, indexed universal, and term life insurance). It also provides voluntary savings plans in international markets.
- Institutional Clients: This segment primarily includes large entities such as pension funds, endowments, foundations, and other financial institutions worldwide. Principal provides them with comprehensive asset management services, offering expertise in equity, fixed income, real estate, other alternative investments, asset allocation, stable value management, and other structured investment strategies.
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Deanna Strable, Chair, President and Chief Executive Officer
Deanna Strable joined Principal Financial Group in 1990 as an actuarial assistant and progressed through various leadership roles. She served as chief financial officer from 2017 until August 2024, when she was named president and chief operating officer. Strable assumed the role of President and Chief Executive Officer in January 2025 and became Chair, President, and Chief Executive Officer in September 2025. She was instrumental in leading business strategy and operations, including building the company's Benefits and Protection business.
Joel Pitz, Executive Vice President and Chief Financial Officer
Joel Pitz joined Principal Financial Group in 1995. He was appointed executive vice president and chief financial officer in May 2025, after serving as interim CFO from August 2024. Prior to this, Pitz was senior vice president and controller and also held the role of vice president and CFO for Principal International, overseeing global finance and strategy for its emerging market operations.
Amy C. Friedrich, President, Benefits and Protection
Amy Friedrich joined Principal Financial Group in 2000, initially in a performance improvement role for Corporate Strategic Development. She moved into the specialty benefits division in 2004, holding various leadership positions, including second vice president in 2006 and vice president of group benefits in 2008, where she led the segment to achieve above-industry growth. She assumed her current position as President of Benefits and Protection in 2017. Before joining Principal, she worked in change management for Accenture.
Kamal Bhatia, President and CEO, Principal Asset Management
Kamal Bhatia joined Principal in August 2019 as President for Principal Funds. Prior to his time at Principal, he served as president at OC Private Capital, a joint venture between Oppenheimer Funds and the Carlyle Group, focusing on private credit investing. He has extensive experience in investment solutions, client engagement, and product development from previous leadership roles at OppenheimerFunds, TIAA, Mellon Asset Management, and Citigroup.
Luis Valdés, President, Principal International
Luis Valdés is the President of Principal International. No further detailed background information is available in the provided sources.
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The Principal Financial Group (PFG) faces several key risks to its business, primarily stemming from its exposure to financial markets, competitive pressures, and regulatory landscapes.
The most significant risks include:
- Market Volatility, Interest Rate Fluctuations, and Economic Downturns: As a global financial services company, Principal Financial Group is highly susceptible to adverse conditions in capital and credit markets. Economic downturns and significant market volatility can lead to a decline in assets under management (AUM), reduced revenues, and compressed profit margins. Changes in interest rates or credit spreads, including a prolonged low-interest-rate environment, can also negatively impact the company's financial results, condition, and liquidity.
- Net Outflows and Intense Competition: Principal Financial Group has experienced net outflows in its fee-based businesses, particularly within its Retirement and Income Solutions (RIS) and Principal Asset Management segments. If these outflows continue, they could significantly impact the company's AUM and, consequently, its fee-based revenue, making it challenging to meet growth targets and maintain market share. The company also faces ongoing competitive pressure from both established financial institutions and new market entrants, along with fee pressure and competitive pricing in its benefits segment, which can challenge profit margins.
- Regulatory Changes: The financial services industry, in which Principal Financial Group operates, is subject to continuous and evolving regulatory oversight. Changes in regulations across its core markets and segments, including retirement, asset management, and insurance, could lead to increased compliance costs, require adjustments to business models, or impact product offerings and profitability.
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Digital-first wealth management platforms offering automated, low-cost investment and retirement solutions. Insurtech companies leveraging technology to provide more streamlined, competitive insurance products directly to consumers and small businesses.
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The addressable markets for Principal Financial Group's main products and services vary significantly by product type and geographic region.
Retirement and Income Solutions (U.S.)
- The total U.S. retirement assets market was valued at $48.1 trillion as of September 30, 2025.
- Individual Retirement Accounts (IRAs) held $18.9 trillion in assets at the end of the third quarter of 2025.
- Defined Contribution (DC) plan assets, which include 401(k) and 403(b) plans, totaled $13.9 trillion at the end of the third quarter of 2025.
- Within DC plans, 401(k) plans accounted for $10.0 trillion.
- 403(b) plans held $875 billion.
- Defined Benefit (DB) plans held $12.6 trillion in assets at the end of the third quarter of 2025, comprising $9.5 trillion in government plans and $3.1 trillion in private-sector plans.
- U.S. individual annuity sales reached a new record of $461.3 billion in 2025. Traditional variable annuities, a component of individual annuities, had sales of $65.2 billion in 2025.
Principal Global Investors (Asset Management)
- The global asset management industry's assets under management (AuM) reached a record-breaking $128 trillion in 2024. North America held the dominant share, at 47.00% in 2025.
Principal International
- The global pension funds market was estimated at $68.3 trillion in 2025. North America commanded 70.65% of global pension assets in 2025.
- In Asia, the largest pension market is Japan, with $3.39 trillion in assets in 2025, followed by China ($996 billion), India ($454 billion), and Hong Kong ($279 billion). Asia-Pacific is projected to be the fastest-growing region in the global pension funds market.
- In Latin America, pension funds across countries like Brazil, Chile, Colombia, Mexico, Peru, and Uruguay represented $822 billion in total assets under management as of November 2021. Brazil's closed pension funds system held $247 billion in assets.
U.S. Insurance Solutions
- The U.S. individual life insurance market generated $16.2 billion in total premiums paid in 2024. For the first nine months of 2025, new annualized premium for U.S. individual life insurance totaled $12.8 billion.
- The U.S. group life insurance market was sized at $145.67 billion in 2025 and is projected to grow to $160.64 billion in 2026. Another estimate places the U.S. group life insurance market at $174.74 billion in 2024, projected to grow to $193.09 billion in 2025.
- The U.S. disability insurance market was valued at $20.2 billion in 2025. The U.S. group level disability insurance market is expected to reach $49.31 billion by 2030. Individual disability insurance sales premiums exceeded $5.4 billion in 2024.
- The U.S. dental insurance market was valued at $97.97 billion in 2025 and is projected to reach approximately $209.46 billion by 2034.
- Information specific to the U.S. group vision insurance market size was not found.
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Principal Financial Group (PFG) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives across its diversified business segments.
Here are the key drivers of future revenue growth for Principal Financial:
- Expanding Retirement and Income Solutions with a Focus on SMBs and Product Innovation: Principal Financial aims to capitalize on the expanding global retirement market by enhancing its retirement solutions. This includes targeting a 10% increase in its Small and Medium-sized Business (SMB) client base by 2025, through cross-selling 401(k) plans, group benefits, and executive compensation to underserved businesses. Additionally, product innovations like "Principal Evolve," which offers flexible retirement solutions for gig workers and micro-businesses, are expected to contribute to growth.
- Strategic International Expansion in Emerging Markets: The company is strategically expanding its presence in emerging markets, particularly in Latin America and Asia. Key markets include Brazil (through Brasilprev), Chile, and Mexico, where Principal Financial is scaling operations to meet demand from mandatory pension systems. This geographic expansion is crucial for accessing new customer bases and leveraging long-term growth potential in these regions.
- Growth in Principal Asset Management, Emphasizing Alternative Investments: Principal Asset Management is a significant driver, with a strategic goal to increase alternative investments to 15% of total Assets Under Management (AUM) by the end of 2026. This diversification includes allocations to private credit and real estate, aiming to enhance the company's investment strategy and revenue streams.
- Leveraging Technology and Distribution Initiatives for Enhanced Reach and Efficiency: Principal Financial is investing in technology and distribution initiatives to reach fragmented markets and improve digital servicing for SMBs and international clients. These efforts, including partnerships with fintech companies, are designed to support expansion initiatives and boost overall efficiency.
- Strategic Acquisitions and Continued Investment in Core Businesses: The company's growth strategy involves strategic acquisitions, such as the 2024 acquisition of Ascensus's ESOP business, which bolstered its position in key market segments. Principal Financial also continues to invest in its foundational businesses, including retirement solutions and asset management, to strengthen its core offerings and market presence.
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Share Repurchases
- Principal Financial Group completed share repurchases totaling $1.50 billion across previously announced buyback programs in 2025.
- The company's annual share buybacks were approximately $902.7 million in 2025, $1.042 billion in 2024, and $740.4 million in 2023.
- In full year 2024, Principal Financial Group returned $1.7 billion of capital to shareholders, which included $1.0 billion of share repurchases.
Share Issuance
- Principal Financial's shares outstanding declined by 4.08% to 0.226 billion in 2025 from 2024.
- Shares outstanding decreased by 3.8% to 0.235 billion in 2024 from 2023.
- Shares outstanding saw a 4.19% decline to 0.245 billion in 2023 from 2022.
Outbound Investments
- Principal Financial Group is acquiring DentaNet, the largest dental provider network in Alabama, to expand its dental and specialty benefits reach.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 107.60 |
| Mkt Cap | 33.8 |
| Rev LTM | 19,198 |
| Op Inc LTM | - |
| FCF LTM | 5,897 |
| FCF 3Y Avg | 5,263 |
| CFO LTM | 6,054 |
| CFO 3Y Avg | 5,401 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.2% |
| Rev Chg 3Y Avg | 6.4% |
| Rev Chg Q | 8.5% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 19.1% |
| CFO/Rev 3Y Avg | 19.4% |
| FCF/Rev LTM | 19.1% |
| FCF/Rev 3Y Avg | 19.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Retirement and Income Solutions | 8,182 | 7,976 | 7,250 | 5,899 | 6,429 |
| Benefits and Protection | 4,965 | 4,789 | 4,551 | 4,303 | 4,792 |
| Principal Asset Management | 2,811 | 2,790 | 2,782 | 3,181 | 3,193 |
| Corporate | 101 | 77 | 76 | 17 | 28 |
| Net realized capital gains, net of related revenue adjustments | 41 | 103 | 58 | -190 | 65 |
| Market risk benefit derivative settlements | -41 | -46 | -46 | -35 | -32 |
| Adjustments related to equity method investments | -69 | -75 | -79 | -54 | -47 |
| Revenues from exited business | -364 | 513 | -928 | 4,415 | 0 |
| Total | 15,626 | 16,128 | 13,666 | 17,536 | 14,428 |
| $ Mil | 2015 | 2008 | 2007 | 2006 | 2005 |
|---|---|---|---|---|---|
| Retirement and Income Solutions | 740 | ||||
| U.S. Insurance Solutions | 430 | ||||
| Principal Global Investors | 388 | ||||
| Principal International | 271 | ||||
| Corporate | -192 | -80 | |||
| Adjustments to revenues | -206 | ||||
| Global Asset Management | 94 | ||||
| International Asset Management and Accumulation | 126 | ||||
| Life and Health Insurance | 270 | 221 | 282 | 274 | |
| U.S. Asset Accumulation | 531 | ||||
| Corporate and Other | -38 | -27 | -21 | ||
| International Asset Management | 111 | 72 | 71 | ||
| US Asset Management | 656 | 645 | 538 | ||
| Total | 1,431 | 943 | 950 | 972 | 862 |
| $ Mil | 2011 | 2009 |
|---|---|---|
| Retirement and Investor Services | 2,183 | |
| U.S. Insurance Solutions | 670 | |
| Principal International | 470 | |
| Corporate | 38 | |
| Principal Global Investors | 15 | |
| Corporate and Other | -106 | |
| Global Asset Management | 38 | |
| International Asset Management | 119 | |
| Life and Health Insurance | 242 | |
| US Asset Management | 510 | |
| elimination | -214 | |
| Total | 3,376 | 590 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Retirement and Income Solutions | 238,142 | 222,967 | 213,208 | 203,647 | 221,994 |
| Principal Asset Management | 52,267 | 43,029 | 45,905 | ||
| Benefits and Protection | 48,166 | 46,007 | 43,764 | ||
| Corporate | 2,802 | 1,660 | 2,170 | 2,217 | 4,183 |
| Principal Global Investors | 2,348 | 2,445 | |||
| Principal International | 43,374 | 42,812 | |||
| U.S. Insurance Solutions | 40,654 | 33,223 | |||
| Total | 341,376 | 313,664 | 305,047 | 292,240 | 304,657 |
Price Behavior
Price Behavior
| Market Price | $115.13 | |
| Market Cap ($ Bil) | 24.9 | |
| First Trading Date | 10/23/2001 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $109.05 | $94.03 |
| DMA Trend | up | up |
| Distance from DMA | 5.6% | 22.4% |
| 3M | 1YR | |
| Volatility | 21.5% | 21.9% |
| Downside Capture | -4.18 | 57.88 |
| Upside Capture | 61.40 | 96.30 |
| Correlation (SPY) | 0.9% | 39.1% |
PFG Betas & Captures as of 7/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.25 | -0.13 | 0.01 | 0.56 | 0.66 | 0.92 |
| Up Beta | -0.88 | -0.37 | -0.14 | 0.59 | 0.56 | 0.97 |
| Down Beta | 0.14 | -0.86 | -0.69 | 0.05 | 0.46 | 1.03 |
| Up Capture | 102% | 57% | 57% | 85% | 95% | 63% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 14 | 27 | 38 | 68 | 139 | 391 |
| Down Capture | 20% | -9% | 5% | 60% | 66% | 95% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 8 | 16 | 25 | 57 | 111 | 358 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PFG | |
|---|---|---|---|---|
| PFG | 53.6% | 22.1% | 1.86 | - |
| Sector ETF (XLF) | 10.9% | 14.8% | 0.49 | 65.5% |
| Equity (SPY) | 21.0% | 12.9% | 1.20 | 39.2% |
| Gold (GLD) | 22.8% | 28.1% | 0.72 | 7.3% |
| Commodities (DBC) | 28.8% | 19.7% | 1.16 | -15.1% |
| Real Estate (VNQ) | 15.5% | 13.8% | 0.80 | 34.8% |
| Bitcoin (BTCUSD) | -45.9% | 43.1% | -1.30 | 19.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PFG | |
|---|---|---|---|---|
| PFG | 17.1% | 26.4% | 0.59 | - |
| Sector ETF (XLF) | 11.3% | 18.4% | 0.48 | 80.6% |
| Equity (SPY) | 12.9% | 17.2% | 0.58 | 64.4% |
| Gold (GLD) | 17.2% | 18.5% | 0.75 | 3.5% |
| Commodities (DBC) | 8.4% | 19.5% | 0.32 | 17.3% |
| Real Estate (VNQ) | 2.5% | 18.9% | 0.03 | 54.5% |
| Bitcoin (BTCUSD) | 11.0% | 53.1% | 0.39 | 25.0% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PFG | |
|---|---|---|---|---|
| PFG | 14.1% | 31.7% | 0.49 | - |
| Sector ETF (XLF) | 13.6% | 22.0% | 0.56 | 84.8% |
| Equity (SPY) | 15.1% | 17.9% | 0.72 | 69.3% |
| Gold (GLD) | 11.4% | 16.1% | 0.58 | -0.6% |
| Commodities (DBC) | 7.1% | 18.0% | 0.31 | 28.1% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 59.1% |
| Bitcoin (BTCUSD) | 58.0% | 66.2% | 0.98 | 16.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/4/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/27/2026 | 2.5% | 3.5% | |
| 4/23/2026 | 2.4% | 4.0% | 7.1% |
| 2/9/2026 | -2.4% | -4.1% | -7.2% |
| 10/27/2025 | 3.3% | 4.3% | 6.4% |
| 7/28/2025 | -0.2% | -5.6% | 0.2% |
| 4/24/2025 | -2.1% | -1.2% | 2.7% |
| 2/6/2025 | 2.9% | 8.7% | 4.6% |
| 10/24/2024 | -6.6% | -8.1% | -4.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 12 | 16 |
| # Negative | 14 | 12 | 7 |
| Median Positive | 2.7% | 3.3% | 5.9% |
| Median Negative | -2.9% | -4.4% | -7.2% |
| Max Positive | 7.5% | 15.0% | 25.3% |
| Max Negative | -6.6% | -8.1% | -10.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/27/2026 | 2.5% | 3.5% | |
| 4/23/2026 | 2.4% | 4.0% | 7.1% |
| 2/9/2026 | -2.4% | -4.1% | -7.2% |
| 10/27/2025 | 3.3% | 4.3% | 6.4% |
| 7/28/2025 | -0.2% | -5.6% | 0.2% |
| 4/24/2025 | -2.1% | -1.2% | 2.7% |
| 2/6/2025 | 2.9% | 8.7% | 4.6% |
| 10/24/2024 | -6.6% | -8.1% | -4.4% |
| 7/25/2024 | -3.4% | -5.9% | -5.9% |
| 4/25/2024 | -2.4% | -0.7% | 1.4% |
| 2/12/2024 | 0.4% | 1.7% | 3.4% |
| 10/26/2023 | -1.0% | 3.2% | 5.5% |
| 7/27/2023 | -4.4% | -4.6% | -8.3% |
| 4/27/2023 | 0.0% | -7.2% | -8.7% |
| 1/30/2023 | -0.9% | -2.0% | -2.3% |
| 10/27/2022 | 7.5% | 5.7% | 9.4% |
| 8/8/2022 | 7.1% | 15.0% | 10.4% |
| 4/28/2022 | -3.5% | 1.2% | 3.3% |
| 2/7/2022 | 4.3% | -1.0% | -10.8% |
| 10/26/2021 | -4.4% | -1.8% | 6.4% |
| 7/27/2021 | -0.1% | 0.7% | 8.3% |
| 4/27/2021 | 1.3% | 2.8% | 3.0% |
| 1/28/2021 | -6.2% | 0.5% | 11.8% |
| 10/26/2020 | -6.3% | -5.4% | 25.3% |
| SUMMARY STATS | |||
| # Positive | 10 | 12 | 16 |
| # Negative | 14 | 12 | 7 |
| Median Positive | 2.7% | 3.3% | 5.9% |
| Median Negative | -2.9% | -4.4% | -7.2% |
| Max Positive | 7.5% | 15.0% | 25.3% |
| Max Negative | -6.6% | -8.1% | -10.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 02/18/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/19/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/16/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 02/18/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/19/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/16/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
| 12/31/2021 | 02/11/2022 | 10-K |
| 09/30/2021 | 10/28/2021 | 10-Q |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 04/29/2021 | 10-Q |
| 12/31/2020 | 02/12/2021 | 10-K |
| 09/30/2020 | 10/29/2020 | 10-Q |
| 06/30/2020 | 07/29/2020 | 10-Q |
| 03/31/2020 | 04/29/2020 | 10-Q |
| 12/31/2019 | 02/14/2020 | 10-K |
| 09/30/2019 | 10/30/2019 | 10-Q |
Recent Forward Guidance
Updated 7/28/2026Latest: Q2 2026 Earnings Reported 7/27/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Dividends | 0.84 | 2.4% | Higher New | Actual: 0.82 for Q2 2026 | |||
Prior: Q1 2026 Earnings Reported 4/23/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Dividends | 0.82 | 2.5% | Higher New | Actual: 0.8 for Q1 2026 | |||
Q4 2025 Earnings Reported 2/9/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Dividend | 0.8 | 1.3% | Raised | Actual: 0.79 for Q4 2025 | |||
| 2026 EPS Growth | 9.0% | 10.5% | 12.0% | ||||
| 2026 Free Capital Flow Conversion | 0.75 | 0.8 | 0.85 | ||||
| 2026 Non-GAAP ROE | 0.15 | 0.16 | 0.17 | ||||
| 2026 Capital Deployment | 1.50 Bil | 1.65 Bil | 1.80 Bil | ||||
| 2026 Share Repurchases | 800.00 Mil | 950.00 Mil | 1.10 Bil | ||||
Q3 2025 Earnings Reported 10/27/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Common Stock Dividend | 0.79 | 1.3% | Raised | Guidance: 0.78 for Q3 2025 | |||
Insider Activity
Updated 6/30/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Cheong, Wee Yee | President - Asia & Middle East | Direct | Sell | 5222026 | 103.16 | 7,534 | 777,207 | 6,854,260 | Form |
| 2 | Cheong, Wee Yee | President - Asia & Middle East | Direct | Sell | 5222026 | 103.06 | 3,211 | 330,926 | 7,624,070 | Form |
| 3 | Cheong, Wee Yee | President - Asia & Middle East | Direct | Sell | 5042026 | 101.26 | 9,183 | 929,871 | 7,816,057 | Form |
| 4 | Cheong, Wee Yee | President - Asia & Middle East | Direct | Sell | 5042026 | 101.01 | 4,737 | 478,484 | 8,724,335 | Form |
| 5 | Djurasovic, George | Interim General Counsel | Direct | Sell | 4302026 | 99.63 | 1 | 99 | 2,182,396 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Cheong, Wee Yee | President - Asia & Middle East | Direct | Sell | 5222026 | 103.16 | 7,534 | 777,207 | 6,854,260 | Form |
| 2 | Cheong, Wee Yee | President - Asia & Middle East | Direct | Sell | 5222026 | 103.06 | 3,211 | 330,926 | 7,624,070 | Form |
| 3 | Cheong, Wee Yee | President - Asia & Middle East | Direct | Sell | 5042026 | 101.26 | 9,183 | 929,871 | 7,816,057 | Form |
| 4 | Cheong, Wee Yee | President - Asia & Middle East | Direct | Sell | 5042026 | 101.01 | 4,737 | 478,484 | 8,724,335 | Form |
| 5 | Djurasovic, George | Interim General Counsel | Direct | Sell | 4302026 | 99.63 | 1 | 99 | 2,182,396 | Form |
| 6 | Cheong, Wee Yee | President - Asia & Middle East | Direct | Sell | 4302026 | 101.00 | 1,080 | 109,080 | 9,201,908 | Form |
| 7 | Djurasovic, George | Interim General Counsel | Direct | Sell | 4302026 | 100.83 | 2,571 | 259,234 | 2,208,782 | Form |
| 8 | Muruzabal, Claudio | Direct | Buy | 3252026 | 97.09 | 5 | 485 | 1,087,699 | Form | |
| 9 | Muruzabal, Claudio | Direct | Sell | 3252026 | 70.05 | 5 | 350 | 784,420 | Form | |
| 10 | Muruzabal, Claudio | Direct | Buy | 3252026 | 77.49 | 5 | 387 | 868,120 | Form | |
| 11 | Strable-Soethout, Deanna D | President and CEO | Direct | Sell | 2022026 | 95.00 | 7,340 | 697,300 | 12,998,660 | Form |
| 12 | Strable-Soethout, Deanna D | President and CEO | Direct | Sell | 1302026 | 95.12 | 9,300 | 884,616 | 13,713,260 | Form |
| 13 | Strable-Soethout, Deanna D | President and CEO | Spouse | Sell | 1262026 | 92.56 | 8,025 | 742,794 | 5,019,251 | Form |
| 14 | Strable-Soethout, Deanna D | President and CEO | Spouse | Sell | 1122026 | 92.50 | 300 | 27,750 | 5,758,310 | Form |
| 15 | Cheong, Wee Yee | EVP, Principal Asia | Direct | Sell | 11132025 | 85.04 | 1,887 | 160,470 | 6,924,042 | Form |
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