Bank of America Downgrades Prudential Financial Inc to Underperform

Brokerage firm Bank of America Downgrades its rating on Prudential Financial Inc(NYSE:PRU). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Bank of America was issued on Jun 29, 2016.

In a different note, On May 16, 2016, FBR Capital said it Maintains its rating on Prudential Financial Inc. In the research note, the firm Raises the price-target to $80.00 per share. The shares have been rated ‘Outperform’ by the firm.

Prudential Financial Inc (PRU) shares turned negative on Fridays trading session with the shares closing down -0.34 points or -0.48% at a volume of 20,97,890. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $71.85. The peak price level was also seen at $71.85 while the days lowest was $70.11. Finally the shares closed at $71. The 52-week high of the shares is $92.599 while the 52-week low is $57.19. According to the latest information available, the market cap of the company is $31,382 M.

Prudential Financial Inc(PRU) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $11.29B. Analysts had an estimated revenue of $11.43B. Earnings per share were $2.18. Analysts had estimated an EPS of $2.37.

Several Insider Transactions has been reported to the SEC. On Feb 17, 2016, Douglas A Scovanner (director) purchased 7,400 shares at $62.56 per share price.Also, On Dec 3, 2015, Scott Sleyster (Senior Vice President) sold 13,431 shares at $87.04 per share price.On Dec 3, 2015, Mark B Grier (Vice Chairman) sold 62,245 shares at $86.93 per share price, according to the Form-4 filing with the securities and exchange commission.

Prudential Financial Inc. is a financial services company. The Company through its subsidiaries and affiliates provides a arrange of financial products and services including life insurance annuities retirement-related services mutual funds and investment management. The Company has organized its principal operations into the Financial Services Businesses and the Closed Block Business. The Financial Services Businesses consists of three divisions containing six segments and the Company’s corporate operations. The Financial Services Businesses operate through three operating divisions: U.S. Retirement Solutions and Investment Management U.S. Individual Life and Group Insurance and International Insurance. The Company’s investment portfolio consists of public and private fixed maturity securities commercial mortgage and other loans equity securities and other invested assets.

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