---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-014640"
form_type: "8-K"
ticker: "PFG"
cik: "0001126328"
company_name: "PRINCIPAL FINANCIAL GROUP INC"
filed_at: "2024-02-12T23:59:59+00:00"
generated_at: "2026-06-06T04:09:13.599599+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Principal Financial Q4 net loss $872M on exited business; raises dividend, $1.5B buyback

## Summary
- Q4 2023 net loss $872M ($3.66 diluted) includes $1,171M loss from exited business; full year net income $623M ($2.55 diluted).
- Full year 2023 non-GAAP operating EPS $6.55, up from $6.34; Q4 operating EPS $1.83, up from $1.58 YoY.
- Raises Q1 2024 dividend to $0.69/share; Board approves new $1.5B share repurchase authorization.
- AUM $695B, AUA $1.6T; 2024 outlook: 9-12% operating EPS growth, 75-85% free cash flow conversion, $1.5-$1.8B capital deployment.
- Returned $1.3B capital to shareholders in 2023, including $0.4B in Q4.

## SEC filing metadata
- accession: 0001104659-24-014640
- form_type: 8-K
- ticker: PFG
- cik: 0001126328
- company_name: PRINCIPAL FINANCIAL GROUP INC
- filed_at: 2024-02-12T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1126328/000110465924014640/0001104659-24-014640-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1126328/000110465924014640/tm245919d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-014640
- JSON: https://secwatch.observer/filing/0001104659-24-014640.json
- Plain text: https://secwatch.observer/filing/0001104659-24-014640.txt

## Key facts
- Earnings Releases
  PRINCIPAL FINANCIAL GROUP INC reported full year and fourth quarter 2023 results: net income Full year 2023 net income attributable to Principal Financial Group ® , Inc. (PFG) 1 of $623 million, or $2.55 per dilut, EPS Full year 2023 net income attributable to Principal Financial Group ® , Inc. (PFG) 1 of $623 million, or $2.55 per dilut. Guidance reaffirmed.
  - Period: full year and fourth quarter 2023
  - Net income: Full year 2023 net income attributable to Principal Financial Group ® , Inc. (PFG) 1 of $623 million, or $2.55 per dilut
  - EPS: Full year 2023 net income attributable to Principal Financial Group ® , Inc. (PFG) 1 of $623 million, or $2.55 per dilut
  - Guidance: reaffirmed
  - Result: reported results
  source text: On February 12, 2024, Principal Financial Group, Inc. publicly announced information regarding its results of operations and financial condition for the quarter and year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126328/000110465924014640/0001104659-24-014640-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.