Principal Financial Group is an independent, publicly traded company with no single controlling owner, trading on the Nasdaq exchange under the ticker PFG.
The company manages roughly seven hundred eighty one billion dollars in assets and is best known for administering workplace 401k and pension plans for employers across the United States.
Principal traces its roots to 1879, when Edward A. Temple founded it in Des Moines, Iowa as Bankers Life Association, and the company converted from a policyholder owned mutual insurer into a shareholder owned public company through its 2001 initial public offering.
So if no single person or company controls Principal, who actually owns its shares, and how did a nineteenth century mutual insurer end up on the Nasdaq exchange?
This article looks at Principal ownership structure, its largest shareholders, its CEO and founding history, its assets under management, the retirement services it offers, and whether it is a good company to work with.
So let us get started.
Table of Contents
Company Overview
| Company | Principal Financial Group, Inc. |
| Founded | 1879, as Bankers Life Association |
| Founder | Edward A. Temple |
| Headquarters | Des Moines, Iowa |
| Ticker | Nasdaq: PFG |
| CEO | Deanna Strable |
What Principal Financial Group Does
Principal Financial Group is a major retirement and asset management company best known for administering workplace 401k and pension plans for employers across the United States.
It also offers individual life insurance, disability insurance, annuities and investment management services through its Principal Asset Management arm.
Many Americans encounter Principal indirectly, through the retirement plan their employer offers, rather than by opening an account with the company directly.
Ownership and Parent Company
Principal Financial Group has no parent company. It is an independent, publicly traded corporation that reports its own financial results each quarter to shareholders and the Securities and Exchange Commission.
The company converted from a mutual insurance structure, owned by policyholders, to a stockholder owned public company through an initial public offering in 2001.
That demutualization is why Principal today has publicly traded shares rather than being owned by its insurance customers, which was the case for most of its history.
Public or Private, and Who the Shareholders Are
Principal Financial Group is publicly traded on the Nasdaq exchange under the ticker symbol PFG, and anyone can buy shares through a brokerage account.
Its largest shareholders are typically large asset managers such as Vanguard, BlackRock and State Street, which hold shares mainly through index funds rather than as strategic controlling owners.
No individual, family or single institution holds a controlling stake in Principal, which is common for large, widely held financial services companies of its size.
Majority owners via Nasdaq listed PFG shares
Vanguard, BlackRock, State Street and similar index managers
Small combined insider ownership stake
CEO and Founder
Deanna Strable became president and CEO of Principal Financial Group in 2025, succeeding longtime chief executive Dan Houston, and she was elected board chair in August 2025.
Strable previously served as the company chief financial officer before moving into the top executive role, giving her deep familiarity with Principal financial operations.
The company itself was founded in 1879 in Des Moines, Iowa, by Edward A. Temple as Bankers Life Association, originally selling life insurance to local bankers.
Ownership and Corporate History
Principal has grown mainly through internal expansion and smaller acquisitions of retirement plan administration and asset management businesses over the decades, rather than through one single defining merger.
Today it operates as one of the larger independent retirement plan and asset management companies headquartered in the American Midwest.
For comparison with a mutual owned insurer that never demutualized, see our guide on who owns USAA.
Financials: Revenue, Net Income and Assets Under Management
Principal Financial Group reported total assets under management of approximately 781 billion dollars, according to its full year and fourth quarter 2025 results announcement.
Assets under management reflect client and plan money that Principal invests and administers on behalf of others, which is separate from the company own quarterly revenue and net income figures reported to shareholders.
Investors and readers should always check Principal own quarterly earnings releases for the most current revenue and profit figures, since these numbers change every reporting period.
Retirement and Investment Services
Principal is one of the largest administrators of employer sponsored 401k and other workplace retirement plans in the United States, working directly with employers of many sizes.
It also offers individual retirement accounts, including traditional and Roth IRAs, along with annuities designed to provide guaranteed retirement income.
On the asset management side, Principal Asset Management runs mutual funds and institutional investment strategies used inside many workplace retirement plans nationwide. For a look at a much larger asset manager with a similar institutional client base, see our guide on who owns BlackRock.
Anyone with questions about rolling over a 401k, choosing between a traditional and Roth IRA, or selecting retirement income products should speak with a qualified financial or tax professional, since needs vary by individual situation.
Customer Service and Contact Information
Individuals with a workplace retirement account through Principal can typically find account specific support numbers and secure messaging tools by logging into the official Principal website.
Employers and plan sponsors generally work with a dedicated Principal representative or their financial professional for setup and ongoing plan administration questions.
Principal Financial Headquarters
Principal Financial Group is headquartered in Des Moines, Iowa, where it has remained based since its founding in 1879.
Des Moines has become a notable hub for insurance and financial services companies partly because of Principal long standing presence in the city.
Is Principal Financial Group Worth It
- Large, established retirement plan administrator with over a century of history
- Publicly traded with regular disclosed financial results
- Broad product lineup spanning retirement, insurance and asset management
- Mixed customer review scores on independent review sites
- Most individuals interact with Principal only through an employer plan, limiting choice
- Fees and plan features can vary significantly by employer
According to Better Business Bureau records, Principal Financial Group maintains an accredited business profile in Des Moines that consumers can review before working with the company.
Customer review sites such as Trustpilot show a mixed range of reviews for Principal, with satisfaction often tied to a specific employer plan design rather than the parent company overall.
Because most workplace retirement plans do not let employees choose their provider, the more useful question for many people is how well Principal specific plan features, fees and fund choices fit their retirement goals.
Frequently Asked Questions About Principal Financial Group
Who owns Principal Financial Group
Principal Financial Group is an independent, publicly traded company with no controlling parent. Its shares trade on Nasdaq under the ticker PFG and are held mainly by institutional investors.
Is Principal Financial Group publicly traded
Yes. Principal has traded publicly on the Nasdaq stock exchange under the ticker PFG since completing its initial public offering in 2001.
Who is the CEO of Principal Financial Group
Deanna Strable serves as president and CEO of Principal Financial Group, having succeeded Dan Houston in 2025.
When was Principal Financial Group founded
Principal traces its history back to 1879, when Edward A. Temple founded it in Des Moines, Iowa, as Bankers Life Association.
I am Jack Neel, a mechanical engineer, researcher, and writer. I created this website to share my knowledge about different brands and products with you. I research the manufacturers behind the brands and provide you with the information you need to make smart buying decisions.