UPDATE: McAdams Wright Ragen Downgrades StanCorp Financial Group to Hold on Limited Upside

McAdams Wright Ragen reduced its rating on StanCorp Financial Group

from Buy to Hold and suspends its previous $35 price target. McAdams Wright Ragen noted, "We are lowering our rating to Hold from Buy as the stock is bumping up against our $35 target price. In the near term, we think SFG is likely to trade at a discount to book until it is successful in re-risking its group insurance book and improving returns. For those investors with a longer time horizon and the stamina to weather continued quarterly volatility, we think the shares remain an attractive portfolio holding." StanCorp Financial Group closed at $34.61 on Wednesday.