Wells Fargo lowered the firm’s price target on Principal Financial to $85 from $91 and keeps an Equal Weight rating on the shares. The firm notes Principal Financial traded down due to missing expectations and color around flows within PGI. Further, the company expects real estate transaction plus prepayment headwinds, which should affect its alt returns in the near term, Wells said in a research note on Friday.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PFG:
- Principal Financial reports Q1 adjusted EPS $1.65, consensus $1.73
- PFG Upcoming Earnings Report: What to Expect?
- Principal Financial Reports Robust Quarterly AUM Growth
- Principal Financial price target raised to $90 from $85 at Piper Sandler
- Principal Financial price target raised to $81 from $75 at Morgan Stanley