secwatch.observer — SEC 8-K summary
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Issuer:     PRINCIPAL FINANCIAL GROUP INC (PFG)
CIK:        0001126328
Form:       8-K
Filed at:   2024-02-12T23:59:59+00:00
Accession:  0001104659-24-014640
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1126328/000110465924014640/0001104659-24-014640-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1126328/000110465924014640/tm245919d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-014640

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer