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Principal Financial Group, Inc. — Intrinsic Value & Fair Price

PFG
NASDAQFinancial ServicesAsset ManagementCIK 0001126328principal.comAbout PFG
Last close · Oct 16, 2026108.81−0.15 (−0.14%)
Market cap$23.3B
Model value · P/B · justified
63.64
Principal Financial Group closed at $108.81 — overvalued by 71% vs model.
55.69the model's range74.25

P/B · justified leads for an insurer. From the justified price to book.

Other models
60.93 – 236.67
Wall St. target
120.00 9% below
Above model, 1y
20 of 20 days

Price and model value

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What the marks mean
Daily close

Valuation models

price $108.81 · as of Oct 17, 2026
P/B · justifiedused55.69 – 74.2563.6471% overvaluedP/E · peers80.64 – 131.2087.0525% overvaluedP/E · own history80.89 – 155.2392.3918% overvaluedPEG—236.6754% undervaluedDividend discount42.44 – 97.4660.9379% overvaluedWall St. consensus target—120.009% belowCost of capital (WACC)—8.17%—

P/B · justified leads for an insurer. How we value a stock walks through every input.

engine pkg:0.1.0

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
2.99%
Past 2 years
low 2.74%high 4.18%
Dividends per share, a year at a time
$2.36Aug ’21$2.56Sep ’22$2.57Sep ’23$2.79Sep ’24$3.02Sep ’25$3.25TTM
Dividends / earnings, FY2025
57.7%
Raised
13 years in a row
Growth, 5 yrs
6.6% a year
Last change
+2.4% · Sep 2026
Every payment, with ex-dates · latest $0.84, paid Sep 25, 2026

Research on PFG

No posts on PFG yet.
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How it is valued

Valued asInsurer
Low/slowing growth (~7% recent)Moderate margins (8% net margin)Pays dividendsHighly cyclical earnings
What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for insurers
Price / book
2.0×
Return on equity
10.0%
P/E
20.7×
Dividend yield, TTM
2.99%
Payout ratio
57.7%
Debt / equity
0.3
Full financials

Superinvestors

13F · Q2 2026
All 2 holders

Analyst actions

third-party, quoted
10-07Barclays · target86.00
09-28Piper Sandler · target128.00
09-10UBS · target120.00
06-24B of A Securities · “Underperform” from “Neutral”downgrade
Ratings, targets and estimates

Recent

filings, insider trades and key news
58 filings · 40 insider transactions

Comparable companies

by business, not by industry label
PRUPrudential FinancialMETMetLifeAMPAmeriprise FinancialTROWT. Rowe PriceIVZInvescoBENFranklin Resources
2 more companies list PFG as a comparable
AFLAflacGLGlobe Life

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just PFG. No account.

About Principal Financial Group

Principal Financial Group, Inc. engages in the investment management offering business. It offers financial products and services to businesses, individuals, and institutional clients. It operates its business through the following segments: Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection. The Retirement and Income Solutions Segment offers a comprehensive portfolio of products and services for retirement savings along with select products for retirement income. The Principal Asset Management segment provides global investment solutions to institutional, retirement, retail and high net worth investors in the U.S. and select emerging markets. The Benefits and Protection segment includes selling individual life insurance products. The company was founded by Edward A. Temple in 1879 and is headquartered in Des Moines, IA.

CEO
Deanna Dawnette Strable-Soethout
Headquarters
Des Moines, IA
Employees
19,700
IPO
2001-10-23
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.