secwatch.observer — SEC 8-K summary
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Issuer:     PRINCIPAL FINANCIAL GROUP INC (PFG)
CIK:        0001126328
Form:       8-K
Filed at:   2023-03-02T23:59:59+00:00
Accession:  0001104659-23-027466
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Principal Financial Group guides 2023 non-GAAP EPS growth of 3-6%; updates segments, adopts LDTI
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- 2023 non-GAAP operating EPS growth guidance of 3-6% vs 2022; long-term targets: 9-12% annual EPS growth, 14-16% ROE.
- Segment changes: combines Principal Global Investors and Principal International into Principal Asset Management; reports RIS in total; renames U.S. Insurance Solutions to Benefits and Protection.
- LDTI adoption effective Jan 1, 2023; recast 2021-2022 financials; 2022 net income recast to $4,756.9M from $4,811.6M.
- Macroeconomic headwinds from lower AUM and account values pressure 2023 EPS growth; guidance excludes lower variable investment income.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1126328/000110465923027466/0001104659-23-027466-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1126328/000110465923027466/tm238244d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-027466

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