Raymond James Downgrades Principal Financial, Raises Price Target to $111

Key Facts

1Raymond James downgraded Principal Financial Group (PFG) from Strong Buy to Outperform.

2The price target for PFG was raised from $99 to $111 despite the downgrade.

3Insider activity shows $1.7 million in sales over the last three months.

Raymond James has downgraded Principal Financial Group (PFG) from a Strong Buy to an Outperform rating. Despite the downgrade, the firm raised its price target for the stock to $111 from the previous $99. Additionally, reports highlight significant insider activity, with sales totaling $1.7 million recorded over the last three months.

This adjustment occurs as asset management peers face mixed market conditions; for instance, BlackRock recently reported a 15% year-over-year growth in assets under management in its latest earnings release (Search Citation). Compared to its peers, PFG's valuation is being closely scrutinized while market data shows relative stability in the share prices of competitors like MetLife and Prudential Financial over the past week per market data.

Investors should watch the new $111 price target as a potential resistance level. On the economic front, the market is awaiting the U.S. Producer Price Index (PPI) data scheduled for May 13, 2026, which could impact interest rate expectations and financial sector profitability. Traders will also monitor upcoming Fed speeches throughout the week to gauge the future path of monetary policy.