Opinions
Michael Hakes - CFA, MBA
Prudential Financial Inc
PRU-N
PAST TOP PICK
Jan 16, 2024
$102.090
Stock price when the opinion was issued
insurance
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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.
insurance
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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)
insurance
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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.
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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.