Principal Financial Group, Inc. reported results for the third quarter of 2026, announcing a 7% increase in non-GAAP operating earnings per diluted share compared to the prior year quarter. The company reported diluted earnings per common share of $2.91, with non-GAAP operating earnings per diluted share reaching $2.49. Net income attributable to Principal Financial Group was $632 million, while non-GAAP net income attributable to the company was $355 million.
The company returned $429 million of capital to shareholders during the quarter, consisting of $250 million in share repurchases and $179 million in common stock dividends. Assets under management totaled $785 billion, included in assets under administration of $1.84 trillion. The company reported a strong financial position with $1.5 billion of excess and available capital.
On the dividend front, Principal Financial Group announced a fourth-quarter 2026 common stock dividend of $0.85 per share. This represents an 8% increase over the fourth quarter of 2025 and a 7% increase on a trailing twelve-month basis. The dividend is payable on December 18, 2026, to shareholders of record as of December 2, 2026.
Segment results showed mixed performance. Retirement and Income Solutions reported recurring deposits of $13 billion, up 8%, while Principal Asset Management saw investment management private markets AUM increase 6% and international pension AUM increase 10%. Conversely, the International Pension segment experienced a 38% decrease in pre-tax operating earnings due to lower net revenue. The Benefits and Protection segment, specifically Life Insurance, saw a 147% increase in pre-tax operating earnings driven by favorable mortality experience and the impacts of a 3Q25 actuarial assumption review.
