Principal reaches pre-crisis market cap, new S&P 500 rank
Friday, June 21, 2013 7:00 AM
Principal Financial Group Inc. has reached the No. 308 spot in the Standard & Poor’s 500 index component companies, with a market capitalization of $11.2 billion, according to The Online Investor. The Des Moines-based insurance company last reached that market cap five years ago, prior to the financial crisis. Market capitalization represents the aggregate value of a company or stock, (number of shares outstanding multiplied by current share price). It provides investors with a comparison of the value attributed by the stock market to a company’s stock. The S&P 500, a gauge of the large cap U.S. equities market, benchmarks that sector’s performance by indexing 500 stocks with assets totaling approximately $1.31 trillion. Here’s a snapshot of the current market cap of other S&P 500 companies that are based in or have operations in Iowa.