2024-01-26 01:56:36 ET
Summary
- Principal Financial is a diversified financial services company with a focus on retirement, asset management, and insurance services.
- The company has seen little improvement in earnings growth despite strategic efforts to move into higher margin businesses.
- Management is confident in the potential growth of the international and specialty benefits sectors, but I'm not comfortable investing in PFG at the current price and current valuation.
Investment Thesis
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Principal Financial Group: An Expensive Insurance Company With Limited Near-Term Upside