Principal Financial Group Inc (PFG) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 29, 2016.
On the company’s financial health, Principal Financial Group Inc reported $0.97 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.99. The company had revenue of $2937.90 million for the quarter, compared to analysts expectations of $2869.38 million. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS.
Principal Financial Group Inc closed down -1.82 points or -4.55% at $38.14 with 21,31,764 shares getting traded on Monday. Post opening the session at $39.1, the shares hit an intraday low of $38.035 and an intraday high of $39.18 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jun 24, 2016, Gregory Bernard Elming (SVP & Chief Risk Officer) sold 46,770 shares at $43.73 per share price. According to the SEC, 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.