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Principal Financial Group Inc. Acquires 83,305 Shares of Rxo Inc $RXO
Principal Financial Group Inc. increased its stake in RXO by 11.8%, acquiring 83,305 additional shares to hold a total of 791,799 shares valued at $12.18 million. This move comes as RXO reported weak Q4 results, missing EPS estimates and experiencing an 11.9% year-over-year revenue decline, which led to a stock sell-off. Analysts have mixed sentiments on RXO, with some being bullish after the company priced a $400M senior notes offering to boost liquidity, while others remain cautious.