Principal Financial Group Projects Strong Growth From Refined Business Portfolio In 2022

(RTTNews) - Principal Financial Group (PFG) said it expects strong growth in non-GAAP operating earnings per share of 10-13% in 2022 from the refined business portfolio compared to 2021, excluding significant variances in both periods. It estimates 6-8% growth in EPS post-transactions and excluding anticipated significant variances.

Principal Financial Group plans to return $2.5-$3.0 billion of capital to shareholders in 2022, including $2.0-$2.3 billion of share repurchases and a 40% dividend payout ratio.

Looking forward, Principal Financial Group said it is well positioned to achieve total company financial targets in 2023, fueled by strong organic growth in the businesses.