Principal Financial Group jumps after report Samsung Life eyeing stake
03/09/2026 17:00
BUZZ-Principal Financial Group jumps after report Samsung Life eyeing stake ** U.S. insurer Principal Financial Group's PFG.O shares jump 7.2% to $118.39
** Samsung Life is considering a potential investment in PFG, the Korean Economic Daily reported late Thursday
** "A deal could include a combination of negotiated purchases with existing shareholders, which would suggest some control premium in the implied valuation range of $24-29 billion, and open market purchases, which would provide technical support for the stock," J.P. Morgan analyst Pablo Singzon says
** Singzon believes that primary issuance by PFG is unlikely
** Two of 16 brokerages rate stock "buy", 12 "hold" and 2 "sell"; median PT $108 - data compiled by LSEG
** As of last close, PFG stock up 25.2% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
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