Plan Sponsors Making Significant Governance Changes to Improve 403(b) Plan Performance, Points to Continued Areas of Focus
More than half of plan sponsors who made governance changes hired a fiduciary advisor or switched from a non-fiduciary to a fiduciary advisor. Plan sponsors are changing key governance practices to improve 403(b) plan performance and outcomes for employees, according to new findings from the latest Plan Sponsor Council of America (PSCA) survey report. Sponsored by Principal Financial Group®, the report highlights that changes are largely in response to litigation surrounding plans, the need to mitigate risk, recommendations from their advisor, and the normal course of plan governance.
Principal Recommends Shareholders Reject Sixth Round of Mini-Tender Offer by Baker Mills LLC
Posted on Dec 7, 2018 (7 days ago)
Principal Financial Group® (PFG) announced today that it has received notice of an unsolicited mini-tender offer by Baker Mills LLC (“Baker Mills”) to purchase up to 100,000 shares of Principal Financial Group, Inc. common stock (“PFG”) from Principal® shareholders. The offer represents approximately 0.04 percent of Principal’s shares of common stock outstanding as of the December 3, 2018 offer date. Baker Mills’ offer price of $40.00 per share is approximately 17 percent lower than the $48.31 closing price of PFG common stock on Nasdaq on December 3, 2018.
Principal Announces 2019 Outlook and Long-Term Guidance
Posted on Dec 3, 2018 (11 days ago)
Principal Financial Group, Inc. today announced certain business unit outlook metrics and capital deployment plans for 2019 and updated long-term guidance. These metrics provide greater clarity around the key drivers of earnings growth for each of the business units.
Principal Appoints Schaaf as New Head of Retirement and Income Solutions
Posted on Nov 28, 2018 (16 days ago)
Renee Schaaf, senior vice president and chief operating officer of Principal International, will become the new president of Retirement and Income Solutions (RIS) effective March 1, 2019. After 27 years with Principal®, current president of RIS and chairman of Principal Funds, Nora Everett, announced her intentions to retire at the end of March 2019. Renee has a long tenure at Principal and has played several key leadership roles across the organization, including roles in RIS.
Principal Announces New $500 Million Share Repurchase Authorization
Posted on Nov 27, 2018 (17 days ago)
Principal Financial Group® (PFG) today announced that its board of directors has approved a new authorization for the repurchase of up to $500 million of the company’s outstanding common stock. As of September 30, 2018, approximately $135 million remained under the company’s May 7, 2018, $300 million authorization. The repurchases will be made in the open market or through privately-negotiated transactions, from time to time, depending on market conditions.
Principal Recommends Shareholders Reject Amended Mini-Tender Offer by Baker Mills LLC
Posted on Nov 12, 2018 (32 days ago)
Principal Financial Group® (PFG) announced today that it has received notice of an amendment to the unsolicited mini-tender offer made by Baker Mills LLC (“Baker Mills”) on October 8, 2018 to purchase up to 90,000 shares of Principal Financial Group, Inc. common stock (“PFG”) from Principal® shareholders. The amended offer represents approximately 0.03 percent of Principal’s shares of common stock outstanding as of the October 25, 2018 amended offer date. Baker Mills’ amended offer price of $39.00 per share is approximately 21 percent lower than the $49.43 closing price of PFG common stock on Nasdaq on October 25, 2018.
New Research: Key Drivers of Growth for PRA Health Sciences, Newmont Mining, Hyster-Yale Materials Handling, MGP Ingredients, Noble Midstream Partners LP, and Principal Financial Group — Factors of Influence, Major Initiatives and Sustained Production
Posted on Nov 6, 2018 (38 days ago)
NEW YORK, Nov. 06, 2018 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.