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                    <ccc>XXXXXXXX</ccc>
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            <liveTestFlag>LIVE</liveTestFlag>



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            <issuerCik>0001126328</issuerCik>
            <issuerName>PRINCIPAL FINANCIAL GROUP, INC.</issuerName>
            <secFileNumber>001-16725</secFileNumber>
            <issuerAddress>
                <ns2:street1>711 High Street</ns2:street1>
                <ns2:city>Des Moines</ns2:city>
                <ns2:stateOrCountry>IA</ns2:stateOrCountry>
                <ns2:zipCode>50392</ns2:zipCode>
            </issuerAddress>
            <issuerContactPhone>(515) 247-5111</issuerContactPhone>
            <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>WEE YEE CHEONG</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <relationshipsToIssuer>
                <relationshipToIssuer>Officer</relationshipToIssuer>
            </relationshipsToIssuer>
        </issuerInfo>
        <securitiesInformation>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <brokerOrMarketmakerDetails>
                <name>Morgan Stanley Smith Barney LLC Executive Financial Services</name>
                <address>
                    <ns2:street1>1 New York Plaza</ns2:street1>
                    <ns2:street2>8th Floor</ns2:street2>
                    <ns2:city>New York</ns2:city>
                    <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                    <ns2:zipCode>10004</ns2:zipCode>
                </address>
            </brokerOrMarketmakerDetails>
            <noOfUnitsSold>510</noOfUnitsSold>
            <aggregateMarketValue>44375.00</aggregateMarketValue>
            <noOfUnitsOutstanding>228725863</noOfUnitsOutstanding>
            <approxSaleDate>11/18/2024</approxSaleDate>
            <securitiesExchangeName>NASDAQ</securitiesExchangeName>
        </securitiesInformation>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>11/18/2024</acquiredDate>
            <natureOfAcquisitionTransaction>Exercise of options under a registered plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>510</amountOfSecuritiesAcquired>
            <paymentDate>11/18/2024</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>WEE YEE CHEONG</name>
                <address>
                    <ns2:street1>711 High Street</ns2:street1>
                    <ns2:city>Des Moines</ns2:city>
                    <ns2:stateOrCountry>IA</ns2:stateOrCountry>
                    <ns2:zipCode>50392</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>11/15/2024</saleDate>
            <amountOfSecuritiesSold>3735</amountOfSecuritiesSold>
            <grossProceeds>325775.29</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>WEE YEE CHEONG</name>
                <address>
                    <ns2:street1>711 High Street</ns2:street1>
                    <ns2:city>Des Moines</ns2:city>
                    <ns2:stateOrCountry>IA</ns2:stateOrCountry>
                    <ns2:zipCode>50392</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>09/04/2024</saleDate>
            <amountOfSecuritiesSold>1200</amountOfSecuritiesSold>
            <grossProceeds>98424.00</grossProceeds>
        </securitiesSoldInPast3Months>
        <noticeSignature>
            <noticeDate>11/18/2024</noticeDate>
            <planAdoptionDates/>
            <signature>/s/ Wee Yee Cheong</signature>
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144
0001871693
XXXXXXXX
LIVE
0001126328
PRINCIPAL FINANCIAL GROUP, INC.
001-16725
711 High Street
Des Moines
IA
50392
(515) 247-5111
WEE YEE CHEONG
Officer
Common
Morgan Stanley Smith Barney LLC Executive Financial Services
1 New York Plaza
8th Floor
New York
NY
10004
510
44375.00
228725863
11/18/2024
NASDAQ
Common
11/18/2024
Exercise of options under a registered plan
Issuer
N
510
11/18/2024
Cash
N
WEE YEE CHEONG
711 High Street
Des Moines
IA
50392
Common
11/15/2024
3735
325775.29
WEE YEE CHEONG
711 High Street
Des Moines
IA
50392
Common
09/04/2024
1200
98424.00
11/18/2024
/s/ Wee Yee Cheong