What’s Next for Prudential Financial Inc (PRU) After Forming Bullish Descending Triangle Pattern?

July 17, 2017 - By Louis Casey

Investors sentiment increased to 1.17 in 2016 Q4. Its up 0.32, from 0.85 in 2016Q3. It is positive, as 40 investors sold Prudential Financial Inc shares while 258 reduced holdings. 104 funds opened positions while 244 raised stakes. 258.13 million shares or 1.92% more from 253.26 million shares in 2016Q3 were reported.
Sumitomo Life Insurance has 22,339 shares. 7,442 were reported by Baldwin Management. Dana Invest holds 0.45% or 92,193 shares. Sumitomo Mitsui reported 1.23 million shares or 0.21% of all its holdings. Bailard Inc invested 0.48% of its portfolio in Prudential Financial Inc (NYSE:PRU). Ahl Prns Ltd Liability Partnership invested 0.42% of its portfolio in Prudential Financial Inc (NYSE:PRU). Andra Ap owns 41,800 shares for 0.12% of their portfolio. Amalgamated National Bank owns 29,081 shares. Reliance Trust Of Delaware has invested 0.09% in Prudential Financial Inc (NYSE:PRU). 59,251 are owned by Hightower Advsrs Ltd Liability. Da Davidson reported 10,000 shares. The California-based Clarivest Asset Ltd Llc has invested 0.01% in Prudential Financial Inc (NYSE:PRU). 124,271 are held by Associated Banc. Seminole Inc has invested 2.51% in Prudential Financial Inc (NYSE:PRU). Rampart Inv Management Co Limited Liability Com stated it has 8,928 shares.

Since February 16, 2017, it had 3 insider buys, and 4 insider sales for $36.42 million activity. $7.99M worth of Prudential Financial Inc (NYSE:PRU) was sold by Pelletier Stephen on Thursday, February 16. 6,087 Prudential Financial Inc (NYSE:PRU) shares with value of $674,135 were sold by Harris Timothy P. TODMAN MICHAEL bought $50,000 worth of stock. Koster Barbara sold $3.81 million worth of Prudential Financial Inc (NYSE:PRU) on Thursday, March 2. The insider Pianalto Sandra bought $22,562. 222,857 shares valued at $24.08 million were sold by Lowrey Charles F on Monday, May 8. Paz George bought 500 shares worth $55,365.

The stock of Prudential Financial Inc (PRU) formed a descending triangle with $114.62 target or 3.00 % above today’s $111.28 share price. The 5 months triangle pattern indicates low risk for the $47.67B company. If the $114.62 price target is reached, the company will be worth $1.43 billion more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock decreased 0.12% or $0.13 on July 17, reaching $111.28. About 866,849 shares traded. Prudential Financial Inc (NYSE:PRU) has risen 33.66% since July 17, 2016 and is uptrending. It has outperformed by 16.96% the S&P500.

Investors wait Prudential Financial Inc (NYSE:PRU) to report on August, 2. its quarterly earnings Wall Street analysts expect $2.68 earnings per share, up $0.84 or 45.65 % from last year’s $1.84 same quarter earnings. This translates into $1.15B profit for PRU giving the stock a 10.38 P/E. This is assuming the current $2.68 EPS is accurate. Prudential Financial Inc’s Wall Street analysts see -3.94 % negative EPS growth, taking into account the $2.79 EPS reproted in the previous quarter,

Prudential Financial Inc (NYSE:PRU) Ratings Coverage

Among 13 analysts covering Prudential Financial (NYSE:PRU), 6 have Buy rating, 0 Sell and 7 Hold. Therefore 46% are positive. Prudential Financial had 29 analyst reports since August 6, 2015 according to SRatingsIntel. The firm earned “Equal-Weight” rating on Wednesday, December 14 by Morgan Stanley. The firm has “Underperform” rating given on Wednesday, June 29 by Bank of America. The stock has “Market Perform” rating by Wells Fargo on Friday, September 23. On Thursday, November 12 the stock rating was maintained by Keefe Bruyette & Woods with “Outperform”. Zacks upgraded the shares of PRU in report on Monday, September 7 to “Buy” rating. Wells Fargo maintained the stock with “Hold” rating in Tuesday, June 6 report. The stock has “Neutral” rating by Bank of America on Wednesday, January 20. Bank of America upgraded Prudential Financial Inc (NYSE:PRU) on Friday, November 18 to “Buy” rating. Wells Fargo maintained the stock with “Hold” rating in Friday, May 5 report. The stock of Prudential Financial Inc (NYSE:PRU) earned “Neutral” rating by Credit Suisse on Friday, October 7.

More recent Prudential Financial Inc (NYSE:PRU) news were published by: Globenewswire.com which released: “Prudential Financial, Inc. Joins Hispanicize Texas as Flagship Sponsor of …” on July 11, 2017. Also Seekingalpha.com published the news titled: “Prudential Financial: Cheap, Attractive Yield, Strong Asset Management Unit” on June 28, 2017. Zacks.com‘s news article titled: “Why it is Apt to Hold Prudential Financial (PRU) Stock Now” with publication date: July 17, 2017 was also an interesting one.

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