Does Prudential Financial, Inc. (PRU) Have Any Gas After Forming This Wedge Down Pattern?

July 12, 2018 - By Winifred Garcia

Prudential Financial, Inc. (NYSE:PRU) Logo

Investors sentiment decreased to 1.16 in Q1 2018. Its down 0.02, from 1.18 in 2017Q4. It dropped, as 44 investors sold Prudential Financial, Inc. shares while 270 reduced holdings. 99 funds opened positions while 265 raised stakes. 259.90 million shares or 2.95% less from 267.81 million shares in 2017Q4 were reported.
City Hldgs Company owns 644 shares or 0.02% of their US portfolio. First United State Bank Tru holds 1.32% or 19,375 shares. Deutsche Financial Bank Ag has invested 0.19% of its portfolio in Prudential Financial, Inc. (NYSE:PRU). Strategic Advsrs Limited Liability Com invested 0.63% of its portfolio in Prudential Financial, Inc. (NYSE:PRU). Comerica Securities Inc invested in 5,174 shares. Btc Mgmt Inc holds 1.04% of its portfolio in Prudential Financial, Inc. (NYSE:PRU) for 61,150 shares. Strategic Financial Services Incorporated has invested 0.53% in Prudential Financial, Inc. (NYSE:PRU). Redwood Cap Mgmt Limited Liability Corporation reported 0.72% in Prudential Financial, Inc. (NYSE:PRU). Cibc World Mkts Inc, a Ontario – Canada-based fund reported 105,577 shares. 489,219 were reported by Dekabank Deutsche Girozentrale. 420,108 were accumulated by Zurcher Kantonalbank (Zurich Cantonalbank). M&T Comml Bank accumulated 0.03% or 52,936 shares. The New York-based Goldman Sachs Gp has invested 0.1% in Prudential Financial, Inc. (NYSE:PRU). Busey Trust holds 0.02% in Prudential Financial, Inc. (NYSE:PRU) or 2,155 shares. 30,209 were reported by Oppenheimer.

Since February 20, 2018, it had 0 insider purchases, and 1 insider sale for $4.43 million activity.

The stock of Prudential Financial, Inc. (PRU) formed a down wedge with $92.46 target or 3.00 % below today’s $95.32 share price. The 5 months wedge indicates high risk for the $40.03 billion company. If the $92.46 price target is reached, the company will be worth $1.20 billion less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 0.08% or $0.08 during the last trading session, reaching $95.32. About 844,770 shares traded. Prudential Financial, Inc. (NYSE:PRU) has declined 5.66% since July 12, 2017 and is downtrending. It has underperformed by 18.23% the S&P500.

Analysts await Prudential Financial, Inc. (NYSE:PRU) to report earnings on August, 1 after the close. They expect $3.05 earnings per share, up 45.93 % or $0.96 from last year’s $2.09 per share. PRU’s profit will be $1.28B for 7.81 P/E if the $3.05 EPS becomes a reality. After $3.08 actual earnings per share reported by Prudential Financial, Inc. for the previous quarter, Wall Street now forecasts -0.97 % negative EPS growth.

Prudential Financial, Inc. (NYSE:PRU) Ratings Coverage

Among 11 analysts covering Prudential Financial (NYSE:PRU), 7 have Buy rating, 0 Sell and 4 Hold. Therefore 64% are positive. Prudential Financial has $140.0 highest and $102 lowest target. $120’s average target is 25.89% above currents $95.32 stock price. Prudential Financial had 13 analyst reports since February 8, 2018 according to SRatingsIntel. The firm earned “Equal-Weight” rating on Thursday, February 8 by Morgan Stanley. The stock of Prudential Financial, Inc. (NYSE:PRU) earned “Market Perform” rating by Wells Fargo on Friday, February 9. On Monday, June 4 the stock rating was upgraded by Goldman Sachs to “Buy”. The firm has “Hold” rating given on Friday, February 9 by Deutsche Bank. Deutsche Bank maintained the shares of PRU in report on Friday, May 4 with “Hold” rating. The firm has “Buy” rating by Bank of America given on Monday, March 26. The rating was upgraded by UBS to “Buy” on Friday, March 2. RBC Capital Markets upgraded Prudential Financial, Inc. (NYSE:PRU) on Monday, February 12 to “Buy” rating. As per Wednesday, April 11, the company rating was maintained by Keefe Bruyette & Woods. On Monday, July 9 the stock rating was maintained by Barclays Capital with “Overweight”.

Prudential Financial, Inc., through its subsidiaries, provides insurance, investment management, and other financial services and products in the United States and internationally. The company has market cap of $40.03 billion. The firm primarily offers life insurance, annuities, retirement-related, mutual funds, and investment management services and products. It has a 5.32 P/E ratio. It operates through U.S.

Prudential Financial, Inc. (NYSE:PRU) Institutional Positions Chart

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