Opinions
Colin Cieszynski
Prudential Financial Inc
PRU-N
WAIT
Mar 22, 2024
Stock price when the opinion was issued
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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.
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.
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.