UBS Downgrades Principal Financial Group (PFG) to Sell

UBS downgraded Principal Financial Group (NYSE: PFG) from Neutral to Sell and cut its price target from $27 to $30.

The firm comments, "We expect PFG's 2013 EPS growth, ROE, and BVPS growth to be in-line with other life insurers, making it hard to justify the stock’s P/B premium to the life space. We expect nearterm negative catalysts that should pressure the stock will include: 1) weak Full Service Accumulation (FSA) revenue growth, margins, and asset flows; and 2) delayed capital management given rating agency concerns."

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 $29.67 yesterday.

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