UPDATE: UBS Starts Principal Financial Group (PFG) at Neutral; Increased Pressure from Lack of Margin Expansion
Tweet Send to a FriendGet Alerts PFG Hot Sheet
Price: $37.22 -0.11%
Rating Summary:
2 Buy, 7 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
2 Buy, 7 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade PFG Now!
(Updated - July 18, 2012 11:39 AM EDT)
UBS initiates coverage on Principal Financial Group (NYSE: PFG) with a Neutral. PT $26.00.
Analyst, Suneet Kamath, said, "PFG trades at ~0.95x book value (ex-aoci), a premium to the life group, despite an in-line ROE. While often viewed as an asset gathering play deserving a premium multiple, PFG continues to produce an insurance-like ROE. Between 2007 and 2011, PFG saw its ROE contract by over 6.00 bps—more than peers—to ~10%...Expect margin and net flows challenges in flagship FSA business...Higher growth in PGI and Int’l not enough to overcome FSA pressures."
For an analyst ratings summary and ratings history on Principal Financial Group click here. For more ratings news on Principal Financial Group click here.
Shares of Principal Financial Group closed at $26.15 yesterday, with a 52 week range of $20.48-$29.96.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
UBS initiates coverage on Principal Financial Group (NYSE: PFG) with a Neutral. PT $26.00.
Analyst, Suneet Kamath, said, "PFG trades at ~0.95x book value (ex-aoci), a premium to the life group, despite an in-line ROE. While often viewed as an asset gathering play deserving a premium multiple, PFG continues to produce an insurance-like ROE. Between 2007 and 2011, PFG saw its ROE contract by over 6.00 bps—more than peers—to ~10%...Expect margin and net flows challenges in flagship FSA business...Higher growth in PGI and Int’l not enough to overcome FSA pressures."
For an analyst ratings summary and ratings history on Principal Financial Group click here. For more ratings news on Principal Financial Group click here.
Shares of Principal Financial Group closed at $26.15 yesterday, with a 52 week range of $20.48-$29.96.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: A.G. Lafley Gives Procter & Gamble (PG) Investors 'New Hope', UBS Upgrades to Buy
- Jefferies Bumps Zumiez (ZUMZ) Numbers Up, But Remains on Sidelines
- Dollar Tree (DLTR) Beats But Looks Stretched - Jefferies
Create E-mail Alert Related Categories
New CoverageRelated Entities
UBS
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
