J.P. Morgan Maintains Underweight Rating On PFG

Analysts at J.P. Morgan reiterated their Underweight rating on shares of Principal Financial Group (PFG) after the company reported earnings slightly below expectations. J.P. Morgan will also keep the price target of $27.00 the same, noting that "We project 401(k) sales/flows to remain weak through 2010 due to lower employee deferrals, reduced employer matching, and limited new account formation." Principal Financial Group, Inc. provides retirement savings, investment, and insurance products and services worldwide.