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Stock Market & Financial Investment News

News Breaks
October 8, 2012
16:02 EDTPFGPrincipal Financial to acquire Cuprum
Principal Financial Group announced that it has signed a definitive agreement to acquire AFP Cuprum. The agreement requires Empresas Penta S.A. and Inversiones Banpenta Limitada to sell their 63 percent ownership in Cuprum pursuant to a public tender offer that will also include the remaining 37 percent of publicly traded shares. This action, combined with its current business in Brazil, Chile and Mexico, will give The Principal® an even larger presence in faster growing emerging markets. Based on current exchange rates, the purchase price for 100 percent of the company is approximately USD$1.51B subject to adjustments for pre-closing dividends. Pending Chilean regulatory approval and the fulfillment of other conditions, the transaction is expected to close in first quarter 2013 and be immediately accretive to EPS and ROE.
News For PFG From The Last 14 Days
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April 24, 2014
16:30 EDTPFGPrincipal Financial raises quarterly dividend 14%, announces $200M buyback
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16:27 EDTPFGPrincipal Financial reports Q1 EPS 95c , consensus 92c
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15:26 EDTPFGNotable companies reporting after market close
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April 14, 2014
05:47 EDTPFGPrincipal Financial upgraded to Outperform from Market Perform at Raymond James
Raymond James upgraded Principal Financial to Outperform with a $51 price target citing the recent pullback in shares.
April 11, 2014
06:40 EDTPFGPrincipal Financial upgraded to Equal Weight from Underweight at Evercore
Evercore upgraded Principal Financial based on balanced risk/reward and confidence in longer-term margins. Price target is $50.

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