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UPDATE: Barclays Maintains Principal Financial Group at Equal-Weight on 2013 Guidance

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Barclays reiterated its Equal Weight rating and $31 price target on Principal Financial Group (NYSE: PFG).

Barclays commented, "PFG's (EW/Pos) implied 2013 EPS guidance of $2.97-$3.36 is below Barclays' previous outlook of $3.35 and consensus due to low interest rates, FX pressure, lack of inflation in Latin America, one-time items from the Cuprum acquisition and lower than anticipated share buybacks. The low-end of PFG's guidance implies 0-5% core operating EPS earnings growth, which appears somewhat conservative and our sense is normalized growth could be 5-10%. … We reduce our 2013E EPS to $3.25 from $3.35 to reflect lower-than-anticipated earnings in the RIS-Accumulation and U.S. Insurance businesses as well as reduced share buybacks."

Principal Financial Group closed at $27.32 on Tuesday.

Latest Ratings for PFG

DateFirmActionFromTo
Dec 2014Keefe Bruyette & WoodsMaintainsOutperform
Dec 2014Atlantic EquitiesInitiates Coverage onOverweight
Oct 2014Credit SuisseMaintainsNeutral

View More Analyst Ratings for PFG
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Posted-In: BarclaysAnalyst Color Reiteration Intraday Update Analyst Ratings

 

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