Prudential Financial (PRU – Research Report), the Financial sector company, was revisited by a Wall Street analyst yesterday. Analyst Elyse Greenspan from Wells Fargo maintained a Sell rating on the stock and has a $95.00 price target.
Elyse Greenspan has given her Sell rating due to a combination of factors that suggest a less favorable outlook for Prudential Financial. Firstly, although Prudential reported earnings per share (EPS) of $2.58, which surpassed Wells Fargo’s own estimate of $2.37, it fell short of the broader market consensus of $2.65. This indicates that while Prudential outperformed some expectations, it did not meet the consensus, which can be seen as a negative signal to investors looking for consistent outperformance.
Moreover, the departure of the company’s CFO can be seen as a destabilizing factor, potentially implying internal issues or strategic disagreements. Such high-level changes can often lead to uncertainty among investors, as they may anticipate potential shifts in company strategy or concerns about the firm’s financial planning capabilities. These elements, when considered together, contribute to the rationale behind Greenspan’s Sell rating for Prudential Financial’s stock.
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Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PRU in relation to earlier this year.
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Prudential Financial (PRU) Company Description:
Prudential Financial, Inc. is one of the world’s leading providers of financial services. The company offers an array of financial products and services including life insurance, retirement-related services, annuities, mutual funds, investment management and real estate services.
Read More on PRU:
- PRU Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Prudential Financial Reports PGIM Assets Ahead of Earnings
- Prudential price target raised to $107 from $99 at BofA
- Prudential downgraded to Neutral from Overweight at JPMorgan
- Prudential awarded $9.2B international longevity risk transfer mandate
