Principal Financial Group Inc. (NASDAQ:PFG), an $18.69 billion market cap financial services company, disclosed its quarterly assets under management (AUM) on Wednesday, reporting a total of $712.1 billion as of December 31, 2024. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 1.57, indicating robust financial positioning.
The report, filed with the Securities and Exchange Commission, breaks down the AUM, with $559.1 billion managed by Principal Asset Management - Investment Management and $124.3 billion by Principal Asset Management - International Pension.
The company, which specializes in investment management and insurance, pointed out the importance of its allocation to small, mid-cap, international, and REIT products within its equity AUM. It also highlighted the significance of high yield and preferred securities within its fixed income AUM, particularly during periods of market volatility and varied returns. With a consistent dividend yield of 3.54% and a 16-year track record of dividend increases, Principal Financial demonstrates strong shareholder returns. InvestingPro subscribers can access additional insights through comprehensive financial health scores and detailed analysis.
The filing further noted the impact of foreign currency translation, market performance, and other unspecified factors on the AUM for the quarter ended December 31, 2024. These factors collectively resulted in an approximate 3.7% impact on the AUM from the beginning of the reporting period.
Investors can expect to see these AUM figures again, presented in the same format, within Principal Financial Group's financial supplement for the quarter ended December 31, 2024. This document is scheduled to be made available on the company's investor relations website around February 6, 2025, coinciding with the company's earnings release. For deeper insights into Principal Financial's performance and valuation metrics, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Principal Financial Group witnessed a series of significant developments. The company reported a 12% increase in its Q3 2024 non-GAAP operating earnings, totaling $412 million, and a 6% rise in total assets under management (AUM) to $741 billion. Additionally, its net revenue increased by 5%.
Analysts from Principal Financial Group project a full-year EPS growth of 9% to 12%. However, Wells Fargo (NYSE:WFC) issued a downgrade for the company and reduced its EPS estimates for 2025 and 2026. Similarly, Morgan Stanley (NYSE:MS) downgraded the company due to concerns over slower growth in its Principal Global Investors and Principal International sectors.
On the other hand, JPMorgan (NYSE:JPM) upgraded Principal Financial Group shares, highlighting the company's lower-risk business mix and an improved outlook for operating trends. RBC Capital also raised its target for Principal Financial following the company's Investor Day.
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