Prudential Financial Inc (PRU) is Downgraded by BofA/Merrill to Underperform

Prudential Financial Inc (PRU) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 29, 2016.

On the company’s financial health, Prudential Financial Inc reported $2.18 EPS for the quarter, missing the analyst consensus estimate by $ -0.18 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $2.36. The company had revenue of $11929.00 million for the quarter, compared to analysts expectations of $11225.08 million. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.79 EPS.

Prudential Financial Inc closed down -3.98 points or -5.61% at $66.93 with 43,47,501 shares getting traded on Monday. Post opening the session at $69.29, the shares hit an intraday low of $66.51 and an intraday high of $69.53 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Feb 17, 2016, Douglas A Scovanner (director) purchased 7,400 shares at $62.56 per share price. According to the SEC, 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.

Prudential Financial Inc

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