Goldman Sachs Keeps Top Rating on Principal Financial (PFG) Following Q2 Results

Goldman Sachs maintained their Conviction Buy List-rating and $38 price target on Principal Financial Group (NYSE: PFG) following Q2 results.

While results were in-line, Goldman said key areas of concern surprised to the upside. Those areas were share repurchases/capital management and solid flows.

Goldman's analyst notes, "Investors have been reacting favorably to better than-expected capital deployment stories despite in line 2Q EPS results. This coupled with a noticeable progress in key areas of concern bode well. We expect shares to outperform peers, especially as PFG sits at a ytd-low share price."

For more ratings news on Principal Financial Group click here and for the rating history of Principal Financial Group click here.

Shares of Principal Financial Group closed at $27.42 yesterday.

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