Principal Financial Group today announced its board of directors approved a new authorization for the repurchase of up to $900 million of the company’s outstanding common stock. As of Dec. 31, 2019, approximately $168 million remained under the company’s prior authorization. The repurchases will be made in the open market or through privately negotiated transactions, from time to time and depending on market conditions. The Des Moines-based financial services company had about 274.7 million shares of common stock outstanding as of Jan. 31. Principal expects to externally deploy between $1.2 billion and $1.7 billion of capital this year through a combination of stock dividends, share repurchases and strategic acquisitions.