Prudential Financial Inc (PRU) is Downgraded by FBR & Co. to Mkt Perform, Price Target at $86

Prudential Financial Inc (PRU) was Downgraded by FBR & Co. to ” Mkt Perform” and the brokerage firm has set the Price Target at $86. Earlier the firm had a rating of “Outperform ” on the company shares. FBR & Co. advised their investors in a research report released on Oct 18, 2016.

Many Wall Street Analysts have commented on Prudential Financial Inc. Prudential Financial Inc was Initiated by Credit Suisse to “Neutral” on Oct 7, 2016. Prudential Financial Inc was Upgraded by Goldman to ” Buy” on Sep 23, 2016. Prudential Financial Inc was Resumed by Wells Fargo to “Market Perform” on Sep 23, 2016.

On the company’s financial health, Prudential Financial Inc reported $1.84 EPS for the quarter, missing the analyst consensus estimate by $ -0.66 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $2.50.Analysts expectations of $ 11730.58.During the same quarter in the previous year, the company posted $2.91 EPS.

Prudential Financial Inc opened for trading at $84.99 and hit $85.34 on the upside on Friday, eventually ending the session at $84.43, with a gain of 0.90% or 0.75 points. The heightened volatility saw the trading volume jump to 27,04,015 shares. Company has a market cap of $36,896 M.

In a different news, on Oct 12, 2016, Sharon C Taylor (Senior Vice President) sold 85,490 shares at $84.99 per share price. According to the SEC, on Oct 7, 2016, Robert Falzon (EVP and CFO) sold 9,781 shares at $85.00 per share price. On Oct 7, 2016, Charles F Lowrey (Executive Vice President) sold 50,322 shares at $85.00 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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