Principal Financial Group Inc. PFG saw a big move last session, as the company’s shares fell by over 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $48.77 to $52.12 in the past one-month time frame.
Notably, shares fell after the company provided weaker-than-expected outlook for 2016 on Dec 3.
The investment manager has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (1 increase, 1 decrease), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
PFG currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00.
A better-ranked stock in the same industry is Woori Bank Co., Ltd. WF, which currently carries a Zacks Rank #2 (Buy).
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