Bank of America Downgrades Principal Financial Group Inc to Neutral

Brokerage firm Bank of America Downgrades its rating on Principal Financial Group Inc(NYSE:PFG). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Bank of America was issued on Jun 29, 2016.

In a different note, On Apr 6, 2016, Citigroup said it Maintains its rating on Principal Financial Group Inc. In the research note, the firm Raises the price-target to $35.00 per share. The shares have been rated ‘Sell’ by the firm.

Principal Financial Group Inc (PFG) made into the market gainers list on Fridays trading session with the shares advancing 0.05% or 0.02 points. Due to strong positive momentum, the stock ended at $41.13, which is also near the day’s high of $41.5699. The stock began the session at $40.81 and the volume stood at 14,94,358 shares. The 52-week high of the shares is $58.02 and the 52 week low is $33.09. The company has a current market capitalization of $11,922 M and it has 28,98,52,710 shares in outstanding.

Principal Financial Group Inc(PFG) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.94B. Analysts had an estimated revenue of $2.86B. Earnings per share were $0.97. Analysts had estimated an EPS of $0.99.

Several Insider Transactions has been reported to the SEC. On Jun 24, 2016, Gregory Bernard Elming (SVP & Chief Risk Officer) sold 46,770 shares at $43.73 per share price.Also, On May 24, 2016, James P Mccaughan (President – Global Asset Mgmt.) sold 10,000 shares at $43.13 per share price.On Feb 23, 2016, Daniel Gelatt (director) purchased 30,000 shares at $36.74 per share price, according to the Form-4 filing with the securities and exchange commission.

Principal Financial Group Inc. is an investment management company. The Company offers businesses individuals and institutional clients a range of financial products and services including retirement asset management and insurance through its financial services companies. Its segments include Retirement and Investor Services Principal Global Investors Principal International and U.S. Insurance Solutions. Its Retirement and Investor Services segment provides retirement and related financial products and services primarily to businesses their employees and other individuals. The Principal Global Investors segment provides asset management services.. The Principal International segment offers pension accumulation products and services mutual funds asset management income annuities and life insurance accumulation products. The U.S. Insurance Solutions segment offers individual and group insurance solutions.

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