Options Bearish on This Insurance Stock
"Fast Money" Contributor
Principal Financial Group is seeing bearish options activity, as February puts trade with volume more than triple the previous open interest.
PFG, which provides investment and insurance services, is down nearly 6 percent today to $10.96, nearing its 52-week low of $8.78 and far from its high of $61.41. Traders are betting that the stock will go even lower, buying the February 10 puts, according to OptionMonster's tracking systems.
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The company received an upgrade today from Sterne Agee but has already seen its price targets slashed by many analysts. Last week the company reported a whopping 98 percent plunge in net income, knocking down its book value from $19.56 to $7.50.
Where Are The Other Major Insurers?
American International Group
Hartford Financial Services Group