Barclays lowered the firm’s price target on Principal Financial (PFG) to $84 from $85 and keeps an Underweight rating on the shares. The firm adjusted targets in the insurance group as part of a Q1 preview. Premium growth and broker organic growth “are likely to remain sluggish,” the analyst tells investors in a research note. However, Barclays sees solid margins and strong capital deployment still contributing to reported book value growth in Q1.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PFG:
- Principal Financial re-initiated with a Market Perform at Keefe Bruyette
- Principal Financial Group to acquire DentaNet, terms not disclosed
- Principal Financial price target raised to $95 from $93 at Morgan Stanley
- Principal Financial files automatic mixed securities shelf
- Oracle upgraded, Workday downgraded: Wall Street’s top analyst calls