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B of A Securities analyst Joshua Shanker maintains Principal Financial Group (NASDAQ:PFG) with a Underperform and raises the price target from $94 to $104.
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Principal Financial rallied 6.5% to close at $118.51 on higher trading volume. The company is expected to report quarterly earnings of $2.53 per share (+20.5% YoY) and revenues of $4.29 billion (+10.2% YoY). However, consensus EPS estimates have been revised marginally lower over the past 30 days, and the stock carries a Zacks Rank #3 (Hold) rating, suggesting the recent strength may not be sustainable.
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Principal Financial Group is expanding its Featured Partner Program to integrate private-market investment strategies into defined-contribution retirement plans through collective investment trusts. The expansion partners with major asset managers including Blackstone, Apollo, KKR, and others to offer plan sponsors diversified investment options, potentially driving asset growth and fee opportunities for PFG's Retirement and Income Solutions business.
JP Morgan analyst Pablo Singzon maintains Principal Financial Group (NASDAQ:PFG) with a Neutral and raises the price target from $106 to $107.