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Cameron Hurst Prudential Financial Inc PRU-N DON'T BUY Mar 06, 2019

Metlife vs. Prudential vs. US banks Both are high quality and international. Strong. He doesn't love lifecos now, because there's a lot going on in health, such as the prevalance of diabetes. He wants to see higher interest rates which can benefit lifecos. As for banks, he'd stay away. The rates and yield curve have flattened. Met are doing the right thing, like a nice dividend and a big share buybacks. It isn't expensive and doing 10% earnings growth, but there are greener pastures elsewhere.

Cameron Hurst

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$94.110

Stock price when the opinion was issued

insurance

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DON'T BUY

A lifeco in America that deals in seg funds. They have a stronger share in cancer insurance in Japan. With interest rates so low, the present value of the benefits they have promised to pay policyholders have risen in value. So, it makes no sense to own any insurers until long-term rates rise. PRU has a strong capital position, so it's better than its peers, but it isn't immune.

TOP PICK

Financials destined to outperform in next 12-24 months. Global, diversified. Second largest lifeco in US. Interest rates moving higher helps. Trades at just over half of book value, a huge discount to peers. Dividend looks solid and will probably grow over time. Yield is 5.09%. (Analysts’ price target is $85.53)

PAST TOP PICK

(A Top Pick Feb 25/21, Up 25%) Will benefit from rising rates. De-risking assets. Good technical chart. Outperforming the S&P. Only 0.7x price to book. Yield is 4.3%.

DON'T BUY

Pays a big yield, but the stock could still go down. Even the best insurer, Chubb, is seeing weaker shares. Avoid the insurers.

DON'T BUY

Is shying away from all financials for now, until the banking crisis ends. This looks compelling though. This could go lower.

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TOP PICK

Prudential Financial, Inc., a financial wellness leader and premier active global investment manager with more than $1.5 trillion in assets under management as of June 30, 2020, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees help to make lives better by creating financial opportunity for more people. Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. Social media mentions are up 200% in the past 24h.

HOLD

Pays a 5% dividend and was upgraded today, and yet it's up only 3% this year.

PAST TOP PICK

(A Top Pick Apr 14/23, Down 29%)

An Asian pure-play in insurance. The overall Asian market was down last year. They achieved all their growth goals in the past year, though. They will benefit from long-term secular trends in Asia. He expects good penetration rates in China where the middle is growing, so PRU is well-positioned. Today, he heard that Sun-Life is taking a trip to China to learn about that market.

WAIT

Within financial sector - banks are struggling. However, insurance sector outperforming. Rising interest rates have impacted sector, but certain companies able to weather the storm. Stock approaching a peak price, time will tell on outcome this year.

PARTIAL SELL

After its run up, it's overbought. Take some profits.

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Cameron Hurst Prudential Financial Inc PRU-N DON'T BUY Mar 06, 2019

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