Principal Financial rises after JPM upgrades to 'overweight'

Principal Financial

07/01/2025 16:51

** Shares of life insurer Principal Financial Group  PFG.O 
up 1.7% at $79.16
    ** J.P. Morgan upgrades PFG to "overweight" from "neutral";
raises PT to $95 from $92, a 22% upside to stock's last close
    ** Brokerage says the upgrade reflects PFG's lower-risk
liability profile and an improved outlook for business trends   
  
    ** Adds that PFG is trading at a compelling valuation   
    ** JPM says a favorable macro backdrop, healthy balance
sheets, and flexibility for share buybacks will enable life
insurance stocks to outperform further
    ** Three of 14 brokerages rate the stock "buy" or higher,
eight "hold" and three "sell"; median PT $90 - LSEG data   
    ** PFG stock fell 1.6% in 2024, underperforming the 23.3%
jump in the benchmark S&P 500 index  .SPX 

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))