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Principal Financial Group inc  (PFG)
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Principal Financial Group Inc's Customers Performance

PFG

 
PFG's Source of Revenues Principal Financial Group Inc's Customers have recorded an increase in their cost of revenue by 10.94 % in the 2 quarter 2022 year on year, sequentially costs of revenue grew by 82.51 %, for the same period Principal Financial Group Inc recorded revenue increase by 88.13 % year on year, sequentially revenue grew by 114.11 %.

List of PFG Customers




Principal Financial Group Inc's Customers have recorded an increase in their cost of revenue by 10.94 % in the 2 quarter 2022 year on year, sequentially costs of revenue grew by 82.51 %, for the same period Principal Financial Group Inc recorded revenue increase by 88.13 % year on year, sequentially revenue grew by 114.11 %.

List of PFG Customers


   
Customers Net Income fell in Q2 by Customers Net margin fell to %
-7.56 % 4.33 %



Principal Financial Group Inc's Customers, Q2 2022 Revenue Growth By Industry
Customers in Consumer Financial Services Industry -18.14 %   
Customers in Life Insurance Industry -31.07 %   
Customers in Insurance Brokerage Industry      7 %
Customers in Property & Casualty Insurance Industry -25.99 %   
Customers in Investment Services Industry      7.41 %
Customers in Commercial Banks Industry -9.86 %   
Customers in Blank Checks Industry  
Customers in Healthcare Facilities Industry -3.88 %   
Customers in Communications Equipment Industry    
Customers in Pharmacy Services & Retail Drugstore Industry      11.04 %
     
• Customers Valuation • Segment Rev. Growth • Segment Inc. Growth • Customers Mgmt. Effect.


Principal Financial Group Inc's Comment on Sales, Marketing and Customers



We offer our full service accumulation products and services to employer-sponsored pension plans, including qualified and nonqualified defined contribution plans and defined benefit plans. Our primary target market is plans sponsored by small and medium-sized businesses, which we believe remains under-penetrated. According to Spectrem Group, only 22% of businesses with between 10 and 49 employees, 52% of businesses with between 50 and 99 employees, 54% of businesses with between 100 and 249 employees and 72% of businesses with between 250 and 500 employees offered a 401(k) plan. The same study indicates that 75% of employers with between 500 and 1,000 employees, 82% of employers with between 1,000 and 5,000 employees and 83% of employers with 5,000 or more employees offered a 401(k) plan in 2012.

We distribute our full service accumulation products and services nationally, primarily through a captive retirement services sales force. We have 117 retirement services sales representatives in 42 offices, operating as a wholesale distribution network, maintained relationships with over 13,500 independent brokers, consultants and agents. Retirement services sales representatives are an integral part of the sales process alongside the referring consultant or independent broker. We compensate retirement services sales representatives through a blend of salary and production-based incentives, while we pay independent brokers, consultants and agents a commission or fee.

We had a separate staff of over 280 service and education specialists located in the sales offices who play a key role in the ongoing servicing of pension plans by providing local services to our customers, such as reviewing plan performance, investment options and plan design; communicating the customers' needs and feedback to us and helping employees understand the benefits of their pension plans. The following summarizes our distribution channels:

We distribute our annuity-based products through sales representatives, agents and brokers who are primarily state licensed individuals.

Principal Advantage, our mutual fund-based product, is targeted at defined contribution plans through broker-dealer distribution channels. Principal Advantage gives us access to Financial Industry Regulatory Authority-registered distributors who are not traditional sellers of annuity-based products and broadens opportunities for us in the investment advisor and broker-dealer distribution channels.

Principal Retirement Income Edge® is designed to create a coordinated experience from accumulation to income management for advisors to use with their individual clients and plan participants who are nearing or enjoying retirement. The Principal Retirement Income Edge® program provides education and planning tools as well as a wide variety of products such as annuities, mutual funds and bank products to provide personalized income management solutions.

Through our Retire Secure strategy we provide financial education and assistance to individual investors who are participants/members of employer-based accumulation solutions to help them achieve financial security.
We believe our approach to full service accumulation plan services distribution gives us a local sales and service presence that differentiates us from many of our competitors. We have also established a number of marketing and distribution relationships to increase the sales of our accumulation products.

Our target markets for individual annuities include owners, executives and employees of small and medium-sized businesses and individuals seeking to accumulate and/or eventually receive distributions of assets for retirement. We market both fixed and variable annuities to individuals for both qualified and nonqualified retirement savings.

We sell our individual annuity products through our affiliated financial representatives. The remaining sales were made through banks, brokerage general agencies, mutual fund companies, Principal Connection and unaffiliated broker-dealer firms. Affiliated financial representatives continued to be the primary distribution channel of our variable deferred annuities. The majority of overall annuity sales, however, were from non-affiliated distribution channels, as a result of focused efforts to increase fixed annuity sales through non-affiliated distribution channels.

Bank employees pursue asset retention strategies by offering our bank products and services to participants of qualified retirement plans, with a primary focus on helping customers understand their retirement options and accumulate savings for retirement. Principal Bank services customers through the telephone, mail and Internet.

We deliver our directed trust services and collective investment funds to customers through our PFG affiliates and affiliated financial representatives. Administrative trust services for self-directed tax-advantaged savings accounts are sold through non-affiliated brokerage firms, clearing firms, financial advisors and asset managers.

We market GICs and funding agreements primarily to pension plan sponsors and other institutions. We also offer them as part of our full service accumulation products. We sell our GICs primarily to plan sponsors for funding of tax-qualified retirement plans. We sell our funding agreements directly to institutions that may or may not be pension funds and unconsolidated special purpose vehicles domiciled either in the U.S. or offshore for funding agreement-backed note programs. The funding agreements sold as part of these funding agreement-backed note programs work by having investors purchase debt obligations from the special purpose vehicle which, in turn, purchases the funding agreement from us with terms similar to those of the debt obligations. The strength of this market is dependent on debt capital market conditions. As a result, our sales through this channel can vary widely from one quarter to another. In addition to the special purpose vehicle selling the funding agreement-backed notes to U.S. and foreign institutional investors, the special purpose vehicle may also sell notes to U.S. retail investors through a SEC-registered shelf debt issuance program.

Our primary distribution channel for full service payout products is comprised of several specialized home office sales consultants working through consultants and brokers that specialize in this type of business. Our sales consultants also make sales directly to institutions. Our nationally dispersed retirement services sales representatives act as a secondary distribution channel for these products. Principal Connection also distributes full service payout products to participants in plans we service who are terminating employment or retiring.

We employed 144 institutional sales, relationship management and client service professionals, who worked with consultants and directly with large investors to acquire and retain third-party institutional clients. Principal Global Investors and its boutiques had approximately 797 third-party institutional clients of AUM in 37 countries.

For each of our products, administration and distribution channels are customized to meet customer needs and expectations for that product.

We sell our individual life and individual disability income products in all 50 states and the District of Columbia, primarily targeting owners and executives of small and medium-sized businesses. Small and medium-sized business sales represented 57% of individual life sales and 63% of individual disability sales. Much of our life insurance sales efforts focus on the Business Owner & Executive Solutions market. This strategy offers solutions to address business owner financial challenges such as exiting the business, business transition, retaining key employees and retirement planning. Key employees also have needs to supplement retirement income, survivor income, and business protection. We believe the Business Owner & Executive Solutions segment offers growth opportunities and we will continue to develop strategies to capitalize on this expanding market.

We distribute our individual life and individual disability insurance products through our affiliated financial representatives and independent brokers, as well as other marketing and distribution alliances. Affiliated financial representatives were responsible for 23% of individual life insurance sales based on first year annualized premium and 14% of individual disability sales. We had 1,121 affiliated financial representatives in 31 offices. Although they are independent contractors, we have a close tie with affiliated financial representatives and we offer them benefits, training and access to tools and expertise. To meet the needs of the various marketing channels, particularly the independent brokers, we employ wholesale distributors — Regional Vice Presidents for individual life and Regional Vice Presidents for individual disability. A key differentiator in the nonqualified executive benefit sale is our Regional Vice Presidents-Nonqualified Plans, who are not only wholesalers but also consultants and subject-matter experts providing point-of-sale support in closing cases.

We market our group life, disability, dental and vision insurance products to small and medium-sized businesses, primarily targeting our sales toward owners and human resources professionals. We sell our group life, disability, dental and vision products in all 50 states and the District of Columbia. We continually adapt our products and pricing to meet local market conditions. We market our fee-for-service capabilities to employers that self-insure their employees' dental, disability and vision benefits. We market our fee-for-service businesses in all 50 states and the District of Columbia.

The group insurance market continues to see a shift to voluntary/worksite products due to various pressures on employers. In keeping with this market change, which shifts the funding of such products from the employer to the employee, we continue to place an enhanced focus on our voluntary benefits platform. We believe the voluntary/worksite market presents growth opportunities, and we will continue to develop strategies to capitalize on this expanding market.

We had 108 sales representatives and 131 service representatives in 28 offices. Our sales representatives accounted for 97% of our group insurance sale. The group sales force plays a key role in the ongoing servicing of the case by providing local, responsive services to our customers and their brokers, such as renewing contracts, revising plans and solving any administrative issues; communicating the customers' needs and feedback to us and helping employees understand the benefits of their plans.


Principal Financial Group Inc's Comment on Sales, Marketing and Customers


We offer our full service accumulation products and services to employer-sponsored pension plans, including qualified and nonqualified defined contribution plans and defined benefit plans. Our primary target market is plans sponsored by small and medium-sized businesses, which we believe remains under-penetrated. According to Spectrem Group, only 22% of businesses with between 10 and 49 employees, 52% of businesses with between 50 and 99 employees, 54% of businesses with between 100 and 249 employees and 72% of businesses with between 250 and 500 employees offered a 401(k) plan. The same study indicates that 75% of employers with between 500 and 1,000 employees, 82% of employers with between 1,000 and 5,000 employees and 83% of employers with 5,000 or more employees offered a 401(k) plan in 2012.

We distribute our full service accumulation products and services nationally, primarily through a captive retirement services sales force. We have 117 retirement services sales representatives in 42 offices, operating as a wholesale distribution network, maintained relationships with over 13,500 independent brokers, consultants and agents. Retirement services sales representatives are an integral part of the sales process alongside the referring consultant or independent broker. We compensate retirement services sales representatives through a blend of salary and production-based incentives, while we pay independent brokers, consultants and agents a commission or fee.

We had a separate staff of over 280 service and education specialists located in the sales offices who play a key role in the ongoing servicing of pension plans by providing local services to our customers, such as reviewing plan performance, investment options and plan design; communicating the customers' needs and feedback to us and helping employees understand the benefits of their pension plans. The following summarizes our distribution channels:

We distribute our annuity-based products through sales representatives, agents and brokers who are primarily state licensed individuals.

Principal Advantage, our mutual fund-based product, is targeted at defined contribution plans through broker-dealer distribution channels. Principal Advantage gives us access to Financial Industry Regulatory Authority-registered distributors who are not traditional sellers of annuity-based products and broadens opportunities for us in the investment advisor and broker-dealer distribution channels.

Principal Retirement Income Edge® is designed to create a coordinated experience from accumulation to income management for advisors to use with their individual clients and plan participants who are nearing or enjoying retirement. The Principal Retirement Income Edge® program provides education and planning tools as well as a wide variety of products such as annuities, mutual funds and bank products to provide personalized income management solutions.

Through our Retire Secure strategy we provide financial education and assistance to individual investors who are participants/members of employer-based accumulation solutions to help them achieve financial security.
We believe our approach to full service accumulation plan services distribution gives us a local sales and service presence that differentiates us from many of our competitors. We have also established a number of marketing and distribution relationships to increase the sales of our accumulation products.

Our target markets for individual annuities include owners, executives and employees of small and medium-sized businesses and individuals seeking to accumulate and/or eventually receive distributions of assets for retirement. We market both fixed and variable annuities to individuals for both qualified and nonqualified retirement savings.

We sell our individual annuity products through our affiliated financial representatives. The remaining sales were made through banks, brokerage general agencies, mutual fund companies, Principal Connection and unaffiliated broker-dealer firms. Affiliated financial representatives continued to be the primary distribution channel of our variable deferred annuities. The majority of overall annuity sales, however, were from non-affiliated distribution channels, as a result of focused efforts to increase fixed annuity sales through non-affiliated distribution channels.

Bank employees pursue asset retention strategies by offering our bank products and services to participants of qualified retirement plans, with a primary focus on helping customers understand their retirement options and accumulate savings for retirement. Principal Bank services customers through the telephone, mail and Internet.

We deliver our directed trust services and collective investment funds to customers through our PFG affiliates and affiliated financial representatives. Administrative trust services for self-directed tax-advantaged savings accounts are sold through non-affiliated brokerage firms, clearing firms, financial advisors and asset managers.

We market GICs and funding agreements primarily to pension plan sponsors and other institutions. We also offer them as part of our full service accumulation products. We sell our GICs primarily to plan sponsors for funding of tax-qualified retirement plans. We sell our funding agreements directly to institutions that may or may not be pension funds and unconsolidated special purpose vehicles domiciled either in the U.S. or offshore for funding agreement-backed note programs. The funding agreements sold as part of these funding agreement-backed note programs work by having investors purchase debt obligations from the special purpose vehicle which, in turn, purchases the funding agreement from us with terms similar to those of the debt obligations. The strength of this market is dependent on debt capital market conditions. As a result, our sales through this channel can vary widely from one quarter to another. In addition to the special purpose vehicle selling the funding agreement-backed notes to U.S. and foreign institutional investors, the special purpose vehicle may also sell notes to U.S. retail investors through a SEC-registered shelf debt issuance program.

Our primary distribution channel for full service payout products is comprised of several specialized home office sales consultants working through consultants and brokers that specialize in this type of business. Our sales consultants also make sales directly to institutions. Our nationally dispersed retirement services sales representatives act as a secondary distribution channel for these products. Principal Connection also distributes full service payout products to participants in plans we service who are terminating employment or retiring.

We employed 144 institutional sales, relationship management and client service professionals, who worked with consultants and directly with large investors to acquire and retain third-party institutional clients. Principal Global Investors and its boutiques had approximately 797 third-party institutional clients of AUM in 37 countries.

For each of our products, administration and distribution channels are customized to meet customer needs and expectations for that product.

We sell our individual life and individual disability income products in all 50 states and the District of Columbia, primarily targeting owners and executives of small and medium-sized businesses. Small and medium-sized business sales represented 57% of individual life sales and 63% of individual disability sales. Much of our life insurance sales efforts focus on the Business Owner & Executive Solutions market. This strategy offers solutions to address business owner financial challenges such as exiting the business, business transition, retaining key employees and retirement planning. Key employees also have needs to supplement retirement income, survivor income, and business protection. We believe the Business Owner & Executive Solutions segment offers growth opportunities and we will continue to develop strategies to capitalize on this expanding market.

We distribute our individual life and individual disability insurance products through our affiliated financial representatives and independent brokers, as well as other marketing and distribution alliances. Affiliated financial representatives were responsible for 23% of individual life insurance sales based on first year annualized premium and 14% of individual disability sales. We had 1,121 affiliated financial representatives in 31 offices. Although they are independent contractors, we have a close tie with affiliated financial representatives and we offer them benefits, training and access to tools and expertise. To meet the needs of the various marketing channels, particularly the independent brokers, we employ wholesale distributors — Regional Vice Presidents for individual life and Regional Vice Presidents for individual disability. A key differentiator in the nonqualified executive benefit sale is our Regional Vice Presidents-Nonqualified Plans, who are not only wholesalers but also consultants and subject-matter experts providing point-of-sale support in closing cases.

We market our group life, disability, dental and vision insurance products to small and medium-sized businesses, primarily targeting our sales toward owners and human resources professionals. We sell our group life, disability, dental and vision products in all 50 states and the District of Columbia. We continually adapt our products and pricing to meet local market conditions. We market our fee-for-service capabilities to employers that self-insure their employees' dental, disability and vision benefits. We market our fee-for-service businesses in all 50 states and the District of Columbia.

The group insurance market continues to see a shift to voluntary/worksite products due to various pressures on employers. In keeping with this market change, which shifts the funding of such products from the employer to the employee, we continue to place an enhanced focus on our voluntary benefits platform. We believe the voluntary/worksite market presents growth opportunities, and we will continue to develop strategies to capitalize on this expanding market.

We had 108 sales representatives and 131 service representatives in 28 offices. Our sales representatives accounted for 97% of our group insurance sale. The group sales force plays a key role in the ongoing servicing of the case by providing local, responsive services to our customers and their brokers, such as renewing contracts, revising plans and solving any administrative issues; communicating the customers' needs and feedback to us and helping employees understand the benefits of their plans.








PFG's vs. Customers, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME MARKET CAP REVENUES INCOME EMPLOYEES
Principal Financial Group inc 18,553.70 17,283.50 4,324.80 17,400
Heartland Media Acquisition Corp. 191.70 0.00 -82.35 0
Cvs Health Corporation 129,920.35 307,860.00 8,157.00 290,000
Hi crush Inc 16.24 622.87 -554.27 0
Tenet Healthcare Corp 5,751.79 19,133.00 1,456.00 108,000
Express Scripts Holding Co. 52,360.34 100,179.10 4,607.30 29,500
The Kroger Co. 32,523.50 144,146.00 2,452.00 435,000
WINN-DIXIE STORES, INC. 0.00 0.00 0.00 0
Davita Inc. 8,438.70 11,626.60 1,059.52 67,000
Capital Financial Holdings, Inc. 0.34 14.56 -0.41 20
Investors Heritage Capital Corp 49.28 63.41 1.20 1
Lpl Financial Holdings Inc. 18,019.29 8,023.60 516.45 3,410
Ladenburg Thalmann Financial Services Inc 501.31 1,469.30 22.73 1,307
Security National Financial Corporation 137.61 429.28 22.94 1,271
Atlantic American Corp 58.31 195.30 2.91 147
American National Group Inc 5,108.64 4,299.31 639.89 4,736
Citizens Inc. 171.82 240.60 30.46 620
Fbl Financial Group Inc 1,493.99 788.43 102.89 1,637
Fidelity & Guaranty Life 1,532.10 1,585.00 243.00 220
First Trinity Financial Corp. 0.00 61.20 4.47 9
Truist Financial Corporation 59,365.23 22,495.00 6,254.00 59,000
Gwg Holdings Inc 60.00 30.77 -315.84 50
Kansas City Life Insurance Co 316.69 483.59 29.57 436
National Security Group Inc. 41.46 66.13 0.82 1
National Western Life Group Inc. 603.67 628.50 156.69 261
Planet Labs Pbc 1,474.82 0.00 -98.97 0
Phoenix Companies Inc 0.00 0.00 0.00 630
Primerica Inc. 4,777.20 2,777.24 330.27 1,764
Sundance Strategies Inc. 72.46 0.00 -2.97 3
Symetra Financial Corporation 0.00 2,111.40 209.90 1,400
Utg Inc. 92.03 27.90 2.21 42
Voya Financial Inc. 6,789.61 6,717.00 1,104.00 0
Arthur J. Gallagher and Co. 36,717.36 17,049.10 1,083.70 32,401
Brown and Brown Inc. 16,774.87 3,253.17 613.57 7,807
Crawford and Co 227.62 1,191.97 23.70 8,941
Erie Indemnity Company 11,426.09 2,746.25 292.91 4,800
Corvel Corporation 2,520.55 669.92 66.26 3,508
Amerisafe Inc. 905.52 295.02 46.14 449
China United Insurance Service inc. 106.00 98.84 13.14 2,239
Employers Holdings Inc. 997.56 655.40 51.90 716
Horace Mann Educators Corporation 1,529.07 1,354.90 118.00 1,350
United Fire Group Inc 733.82 985.59 66.03 1,057
Assured Guaranty ltd. 3,061.35 865.00 352.00 300
Midwest Holding Inc. 55.90 24.24 -5.46 0
Fresenius Medical Care Ag and Co Kgaa 4,215.47 19,732.93 1,365.31 0
SUBTOTAL 409,139.68 684,997.42 30,438.62 1,070,033
       
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