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Principal Financial Group Inc. (NASDAQ:PFG), a $17.38 billion financial services company with a "GOOD" InvestingPro Financial Health score, announced the outcomes of its annual shareholders meeting held on May 20, 2025. During the meeting, shareholders voted on several key issues, including the election of Class III director nominees and the approval of executive compensation. The company, currently trading near its Fair Value according to InvestingPro analysis, has demonstrated strong shareholder-friendly policies, including maintaining dividend payments for 24 consecutive years.
The election results confirmed that all four Class III director nominees were elected to serve a three-year term expiring at the 2028 annual shareholders meeting. The individuals elected are H. Elizabeth Mitchell, Blair C. Pickerell, Clare S. Richer, and Deanna D. Strable-Soethout. According to InvestingPro data, management has been actively demonstrating confidence in the company’s direction through aggressive share buybacks, with the stock currently trading at a P/E ratio of 16.39. (Discover 6 more exclusive InvestingPro Tips and comprehensive analysis in the Pro Research Report.)
Additionally, the advisory vote to approve executive compensation was passed, and the appointment of the company’s independent registered public accountants was ratified.
The specific vote counts for each director were as follows:
- H. Elizabeth Mitchell received 136,860,148 votes for, 13,687,750 against, and 407,449 abstained.
- Blair C. Pickerell secured 148,362,943 votes for, 2,405,474 against, and 186,930 abstained.
- Clare S. Richer had 149,301,589 votes for, 1,474,394 against, and 179,364 abstained.
- Deanna D. Strable-Soethout garnered 150,469,142 votes for, 296,375 against, and 189,830 abstained.
The advisory vote on executive compensation saw 142,675,128 votes for, 7,735,191 against, and 545,028 abstentions. The ratification of the independent registered public accountants received 160,644,877 votes for, 9,439,069 against, and 193,586 abstentions.
All matters were decided with a significant number of broker non-votes, totaling 19,322,185 for each director nominee and the executive compensation approval, with no broker non-votes reported for the ratification of accountants.
The information is based on a press release statement filed with the SEC. With a dividend yield of 3.93% and a track record of raising dividends for 16 consecutive years, Principal Financial Group continues to maintain strong shareholder returns despite recent market volatility.
In other recent news, Principal Financial Group reported its first-quarter 2025 earnings, revealing an earnings per share (EPS) of $1.81, which fell short of the projected $1.89. The company’s revenues also missed expectations, coming in at $4 billion compared to the anticipated $4.06 billion. Despite these results, Principal Financial Group experienced a 10% year-over-year increase in EPS. The company returned $370 million to shareholders through share repurchases and dividends, maintaining a strong focus on shareholder returns. Principal Financial Group managed a total of $718 billion in assets under management, despite a $4 billion net cash outflow driven by institutional withdrawals. Additionally, the company recently appointed Joel Pitz as the new executive vice president and chief financial officer, succeeding Deanna Strable, who became president and CEO. Analysts from firms like Dowling and Partners have been closely monitoring the company’s performance, noting its resilience in a volatile market. These developments underscore Principal Financial Group’s ongoing efforts to align its financial strategy with business goals and ensure continued growth.
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