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YRD

Yirendai

$6.78

0.835 (14.05%)

, PFG

Principal Financial

$56.19

0.6 (1.08%)

08:03
01/10/20
01/10
08:03
01/10/20
08:03

Yirendai, Principal Financial enter agreement to expand into retirement market

Yiren Digital (YRD) announced that its wealth management platform Yiren Wealth has entered into a strategic cooperation agreement with Principal Global Investors Limited., a subsidiary of Principal Financial Group (PFG). The partnership will open up a comprehensive strategic business deployment in China's retirement financial service market, helping China's mass affluent population better prepare for retirement.

YRD

Yirendai

$6.78

0.835 (14.05%)

PFG

Principal Financial

$56.19

0.6 (1.08%)

  • 29

    Jan

YRD Yirendai
$6.78

0.835 (14.05%)

09/05/19
09/05/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. BHP Group (BHP) downgraded to Underperform from Neutral at Exane BNP Paribas. 2. Mallinckrodt (MNK) downgraded to Market Perform from Outperform at BMO Capital analyst Gary Nachman citing yesterday's Bloomberg reports that the company hired restructuring firms to help manage through its opioid litigation. 3. Yirendai (YRD) downgraded to Underperform from Neutral at Macquarie with analyst Dexter Hsu saying the company not only reported "disappointing" Q2 results, but also closed the merger with CreditEase on unfavorable terms. 4. Green Dot (GDOT) downgraded to Hold from Buy at Jefferies with analyst John Hecht saying the company's organic revenue growth has been slowing and it is trying to establish share in a new customer target market with well-resourced competitors. 5. Royal Dutch Shell (RDS.A, RDS.B) downgraded to Market Perform from Outperform at Cowen with analyst Jason Gabelman saying the downgrade reflects its peer leading exposure to international gas prices which are forecasted lower through 2020 and as a result could limit its free cash flow growth. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/03/19
SBSH
10/03/19
DOWNGRADE
Target $6.1
SBSH
Sell
Yirendai downgraded to Sell from Neutral at Citi
Citi analyst Daphne Poon downgraded Yirendai (YRD) to Sell from Neutral with a price target of $6.10, down from $13.90. The analyst views the company's asset quality and growth outlook as "more challenging" as the China economy slows. Poon expects further divergence among the China online lenders as industry penetration rises and regulatory scrutiny increases. The analyst's top pick in the space is PPDAI Group (PPDF).
10/08/19
FBCO
10/08/19
INITIATION
Target $6.92
FBCO
Neutral
Yirendai assumed with a Neutral at Credit Suisse
Credit Suisse assumes coverage of Yirendai with a Neutral rating, down from Outperform, and a lowered price target to $6.92 from $20. The analyst notes that after the company's business realignment, its P2P outstanding loan balance has risen to RMB68B, which is the largest among its listed peers, and leaves it exposed to "triple reductions". The analyst adds that Yirendai's non-P2P assets under management at Yiren Wealth remains "too small."
10/08/19
FBCO
10/08/19
INITIATION
Target $6.92
FBCO
Neutral
Yirendai assumed with a Neutral rating at Credit Suisse
Credit Suisse assumed coverage of Yirendai with a Neutral rating and $6.92 price target.
PFG Principal Financial
$56.19

0.6 (1.08%)

04/29/19
RBCM
04/29/19
NO CHANGE
Target $55
RBCM
Sector Perform
Principal Financial price target raised to $55 from $49 at RBC Capital
RBC Capital analyst Mark Dwelle raised his price target on Principal Financial to $55, saying its Q1 results exceeded expectations in terms of cash flows in all units and "strong sales". The analyst is keeping his Sector Perform rating however, citing the impact of corporate expenses that contributed to earnings declines relative to last year's Q1 across all units.
06/03/19
SBSH
06/03/19
NO CHANGE
SBSH
Citi recommends focusing on pair trades in Life Insurance
Citi analyst Suneet Kamath believes investors should consider pair trades within the U.S. Life & Health Insurance space. The analyst favors Voya Financial (VOYA) over Principal Financial Group (PFG), Lincoln National (LNC) over Brighthouse Financial (BHF), and Reinsurance Group (RGA) over Aflac (AFL).
10/01/19
JPMS
10/01/19
NO CHANGE
JPMS
JPMorgan shifts Life Insurance view to negative from neutral
JPMorgan analyst Jimmy Bhullar shifted is view on the Life Insurance sector to negative from neutral ahead of the Q3 reporting season. His outlook for business fundamentals is "incrementally cautious" and he feels that consensus 2020 earnings estimates for most insurers are too high. In addition, stock prices do not seem to have reacted to the decline in interest rates, Bhullar tells investors in a research note. The analyst lowered his estimates for most companies, and his numbers for 2020 are now "considerably below" consensus on AIG (AIG), Hartford Financial (HIG), and Voya Financial (VOYA), but slightly above for Aflac (AFL) and Unum Group (UNM). For Q3, Bhullar thinks consensus estimates for Athene Holding (ATH) and Reinsurance Group (RGA) are" especially high," while numbers for Principal Financial (PFG) "seem conservative." Globe Life (GL) and Lincoln National (LNC) are the analyst's top picks and he remains negative on Brighthouse Financial (BHF).
01/02/20
JPMS
01/02/20
NO CHANGE
JPMS
JPMorgan cautious on life insurance sector in 2020
JPMorgan analyst Jimmy Bhullar said he expects life insurers to report healthy earnings in the near-term due to the impact of the strong equity market, but he expects results to weaken through 2020, leaving him cautious on the sector in the new year. He believes consensus EPS forecasts for most companies in the group are too high and he projects life insurers to incur additional balance sheet charges in 2020, barring a steady rise in rates. Bhullar called Metlife (MET) his top pick in the space and noted that he is negative on Brighthouse Financial (BHF). Additional names in the space he covers include American Equity (AEL), AXA Equitable (EQH), Lincoln National (LNC), Principal Financial (PFG), Reinsurance Group (RGA), Unum Group (UNM), Aflac (AFL), AIG (AIG), Athene Holding (ATH), FGL Holdings (FG), Globe Life (GL), Prudential (PRU), and Voya Financial (VOYA).

TODAY'S FREE FLY STORIES

LMT

Lockheed Martin

$425.68

4.665 (1.11%)

08:52
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Lockheed Martin analyst commentary  »

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  • 28

    Jan

AEMD

Aethlon Medical

$2.71

0.96 (54.86%)

08:51
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08:51
Syndicate
Aethlon Medical announces $3.77M registered direct offering priced at-the-market »

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RSG

Republic Services

08:51
01/17/20
01/17
08:51
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08:51
Initiation
Republic Services initiated  »

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03/08/13
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  • 13

    Feb

  • 02

    Apr

TGTX

TG Therapeutics

$14.03

-0.08 (-0.57%)

08:51
01/17/20
01/17
08:51
01/17/20
08:51
Recommendations
TG Therapeutics analyst commentary  »

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WCN

Waste Connections

$97.65

1.46 (1.52%)

08:50
01/17/20
01/17
08:50
01/17/20
08:50
Initiation
Waste Connections initiated  »

Waste Connections…

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  • 13

    Feb

  • 02

    Apr

BK

BNY Mellon

$46.74

-3.94 (-7.77%)

08:50
01/17/20
01/17
08:50
01/17/20
08:50
Recommendations
BNY Mellon analyst commentary  »

BNY Mellon price target…

03/08/13
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03/06/13
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  • 06

    Feb

ASPU

Aspen Group

$7.97

-0.3 (-3.63%)

08:50
01/17/20
01/17
08:50
01/17/20
08:50
Syndicate
Aspen Group 2.1M share Spot Secondary priced at $7.15 »

Canaccord, Craig-Hallum…

03/08/13
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03/06/13
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  • 17

    Jan

WM

Waste Management

$119.49

1.295 (1.10%)

08:50
01/17/20
01/17
08:50
01/17/20
08:50
Initiation
Waste Management initiated  »

Waste Management…

03/08/13
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  • 29

    Jan

  • 30

    Jan

  • 13

    Feb

  • 02

    Apr

08:50
01/17/20
01/17
08:50
01/17/20
08:50
General news
U.S. equities are firmer »

U.S. equities are firmer…

08:50
01/17/20
01/17
08:50
01/17/20
08:50
General news
Treasury Action: yields have backed up »

Treasury Action: yields…

WNS

WNS Holdings

$70.73

1.92 (2.79%)

08:46
01/17/20
01/17
08:46
01/17/20
08:46
Recommendations
WNS Holdings analyst commentary  »

WNS Holdings price target…

03/08/13
Wedge Partners
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03/06/13
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GTT

GTT Communications

$13.50

0.06 (0.45%)

, SKT

Tanger Factory

$15.43

-0.06 (-0.39%)

08:45
01/17/20
01/17
08:45
01/17/20
08:45
Options
Largest borrow rate increases among liquid names »

Latest data shows the…

GTT

GTT Communications

$13.50

0.06 (0.45%)

SKT

Tanger Factory

$15.43

-0.06 (-0.39%)

SDC

SmileDirectClub

$13.22

-0.5 (-3.64%)

BLDP

Ballard Power

$11.05

0.44 (4.15%)

TLRD

Tailored Brands

$4.29

0.045 (1.06%)

MNK

Mallinckrodt

$5.22

0.74 (16.52%)

IRBT

iRobot

$55.84

2.55 (4.79%)

AMJ

American Medical Laboratories Inc

$22.77

0.06 (0.26%)

NK

NantKwest

$7.39

2.1 (39.70%)

WVE

Wave Life Sciences

$8.10

0.13 (1.63%)

03/08/13
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03/08/13
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03/06/13
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  • 16

    Feb

  • 09

    Mar

08:45
01/17/20
01/17
08:45
01/17/20
08:45
General news
U.S. December housing starts surged 16.9% to a 1.608 M pace »

U.S. December housing…

08:45
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01/17
08:45
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08:45
General news
FX Action: The dollar »

FX Action: The dollar…

08:45
01/17/20
01/17
08:45
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General news
Breaking General news story  »

Philadelphia Federal…

08:45
01/17/20
01/17
08:45
01/17/20
08:45
General news
Breaking General news story  »

Philadelphia Federal…

08:44
01/17/20
01/17
08:44
01/17/20
08:44
Conference/Events
JPMorgan U.S. telecom & semis analysts hold an analyst/industry conference call »

U.S. Telecom &…

LUV

Southwest

$55.30

0.26 (0.47%)

08:43
01/17/20
01/17
08:43
01/17/20
08:43
Downgrade
Southwest rating change  »

Deutsche downgrades…

03/08/13
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  • 23

    Jan

DE

Deere

$175.53

2.59 (1.50%)

08:42
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WING

Wingstop

$87.67

-3.78 (-4.13%)

08:41
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08:38
01/17/20
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Conference/Events
Federal Reserve Board of Governors Vice Chairman speaks at a meeting »

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CSX

CSX

$76.75

1.76 (2.35%)

08:37
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08:36
01/17/20
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Conference/Events
Federal Reserve Bank of Philadelphia president participates in a discussion »

Federal Reserve Bank of…

IPIX

Innovation Pharmaceuticals

$0.00

(0.00%)

08:36
01/17/20
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08:36
Hot Stocks
Innovation Pharmaceuticals announces dose escalation in Phase 1 trial »

Innovation…

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CCDBF

CCL Industries

$0.00

(0.00%)

08:35
01/17/20
01/17
08:35
01/17/20
08:35
Hot Stocks
CCL Industries announces two bolt-on acquisitions for Avery »

CCL Industries announced…

03/08/13
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