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Stock Market & Financial Investment News

News Breaks
November 27, 2012
16:05 EDTPFGPrincipal Financial sees $400M-$600M total capital deployed in FY13
Capital will be deployed for common stock, dividend, strategic acquisitions and opportunistic share repurchases.
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September 30, 2014
16:02 EDTPFGPrincipal Financial unit increases stake in Columbus Circle Investors
The Principal Financial Group announced its subsidiary, Principal Global Investors has agreed to increase its stake in Columbus Circle Investors from 70% to 95%. Principal Global Investors acquired a 70% stake in the Stamford, Conn.-based equity management firm in 2005 as part of its multi-boutique strategy. Since the initial acquisition, assets under management at Columbus Circle Investors have more than quadrupled, going from $3.9B in 2005 to $17.5B as of June 30. “Our investment in Columbus Circle Investors has greatly exceeded our mid-teens return threshold expectations,” said Jim McCaughan, CEO of Principal Global Investors. “We’re pleased to be able to increase our ownership stake at an opportune time. This investment ensures continued success at Columbus Circle Investors and is in line with our capital deployment strategy and efforts to further enhance shareholder value.”

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