Principal Financial highlights long term retirement focus, shares in S&P 500 peer comparison

By Stefan Krueger, Long-Term & Business Model desk. Reviewed prior to publication on 2026-06-28, 10:48.

Principal Financial (US74251V1026) remains positioned as a diversified retirement, asset management and insurance group with a primary listing on the Nasdaq and inclusion in the S&P 500 financials universe. The company’s strategy emphasizes fee-based retirement services, global asset management and protection products with a focus on long term capital-light growth, as reflected in recent filings and investor presentations from 2024 and early 2025.

Business mix across retirement and protection

Principal Financial’s operations are structured around key segments such as Retirement & Income Solutions, Principal Asset Management, Principal International and Benefits & Protection, according to its latest annual report filed with the U.S. Securities and Exchange Commission.2024 Form 10-K segment overview

Retirement & Income Solutions focuses on U.S. workplace retirement plans, annuities and related services where Principal acts as recordkeeper and investment provider for defined contribution plans such as 401(k) arrangements. Principal Asset Management runs mutual funds, separate accounts and institutional mandates and distributes strategies to pension funds, insurance companies and other institutions globally, while Benefits & Protection provides group life, disability, dental and specialty benefits to employers in the United States, complementing the retirement offer.

Long term positioning among U.S. life insurers

Principal Financial is frequently compared with U.S. life and retirement specialists such as MetLife, Prudential Financial, Lincoln National and Voya Financial, which also focus on retirement, group benefits and asset accumulation products.Reuters overview of U.S. life insurers

Analysts at several research houses track Principal Financial within the S&P 500 financials cohort and often compare its valuation metrics such as price-to-earnings and price-to-book ratios to peers, taking into account its higher share of fee-based retirement and asset management earnings versus more spread-based traditional life insurance portfolios.

How Principal Financial earns money

Principal Financial primarily generates revenue from fees on assets under management and administration, premiums from insurance and benefits products and investment income on its general account portfolio.Principal investor relations overview

In retirement services, Principal collects recordkeeping fees, investment management fees and other plan administration charges that are linked to the level of assets and number of participants in employer-sponsored plans. In asset management, the group charges management and performance fees on mutual funds, exchange traded funds and institutional mandates, while in insurance its revenue stems from premiums paid by employers and individuals for protection solutions such as life and disability coverage.

Where the Principal Financial shares trade

The Principal Financial shares (US74251V1026) trade on the Nasdaq in U.S. dollars as part of the S&P 500 index. At the latest available close on Nasdaq the stock changed hands at a price in the typical range for U.S. life and retirement specialists, according to exchange data.

This article is for informational purposes only and does not constitute investment advice, an offer or a solicitation to buy or sell any securities. All information is based on publicly available sources considered reliable but cannot be guaranteed. Investors should conduct their own research or consult a qualified financial adviser before making investment decisions.