Principal Financial Group (PFG) NewsBite - PFG Downgraded By Morgan Stanley
Posted: Friday, November 20, 2009 10:02 AM EDT
By: Market Intelligence Center Staff
Principal Financial Group (PFG) was downgraded today by analysts at Morgan Stanley and the stock is now at $25.54, down $0.71 (-2.7%) on volume of 504,976 shares traded. The analysts reduced PFG to Equal Weight from Overweight. Over the last 52 weeks the stock has ranged from a low of $5.41 to a high of $30.87. Principal Financial Group stock has been showing support around $25.54 and resistance in the $27.34 range. Technical indicators for the stock are neutral and S&P gives PFG a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on PFG the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 31 range. [ABR-Seven Summits Strategic Investments NewsBite]
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