Principal Financial Group Loans $32M to Refi Queens Shopping Center – Commercial Observer

Principal Financial Group (PFG) reported Q2 FY2026 earnings with non-GAAP net income up 23.8% YoY to $535M. Shares rose 1.7% post-earnings. PFG outperformed the S&P 500 and IAK ETF over the past year and YTD. Analysts have a consensus 'Hold' rating, with a mean price target of $110 and a Street-high target of $125. Raymond James raised its target to $121.

Principal Financial Group reported 13% enterprise earnings growth and 200 bps margin expansion in Q2 2026, citing underwriting strength in Benefits and Protection and RIS fundamentals. It said transfer deposits rose 30% to $1.7B quarterly roll-ins, and international pension AUM hit $169B. Capital deployment guidance remains $1.5B to $1.8B, with specialty benefits loss ratios expected below 60% to 64% guidance.

Principal Financial Group reported Q2 2026 non-GAAP operating earnings of $547 million, with margin expansion driven by improved specialty benefits loss ratio (57.4% vs 60.2%) and favorable life insurance mortality. Non-GAAP operating earnings were $2.50 per diluted share. The company posted $427 million in capital returns and declared a $0.84 per-share Q3 dividend.

PRINCIPAL FINANCIAL GROUP INC (PFG) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99 2 tm2621379d1_ex99.htm EXHIBIT 99 Exhibit 99 INVESTOR CONTACT : MEDIA CONTACT: Humphrey Lee 877-909-1105, lee.humphrey@principal.com Sara Bonney 515-878-0835, bonney.sara@principal.com Principal Financial Group Announces Second Quarter 2026 Results Raises third quarter 2026

Principal Financial Group (PFG) agreed to acquire Beam Benefits, a Nasdaq-listed? (Beam is private) employee benefits provider serving 25,000+ small businesses. Beam generated about $175M in 2025 premiums. Terms were not disclosed. Principal expects the deal to close in 2H 2026 and projects Specialty Benefits premium and fee growth at or above the high end of its 5% to 9% 2027 target.

Principal Financial (PFG) raised its Q2 dividend 8% to $0.82/share and has paid dividends for 23 straight years, according to the company. Analysts expect adjusted EPS of $9.36 in fiscal 2026 (+13.2% YoY) and $10.24 in fiscal 2027 (+9.4%). Consensus is “Hold” (11 of 14 analysts). Morgan Stanley lifted its price target to $107 from $95.