Is Buying Prudential Financial Inc (PRU) Here a Winning Strategy? The Stock Formed Descending Triangle

July 17, 2017 - By test

Investors sentiment increased to 1.17 in 2016 Q4. Its up 0.32, from 0.85 in 2016Q3. It increased, 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.
Foundry Ptnrs Ltd Liability Company holds 0.44% or 98,425 shares. Private Ocean Lc, a California-based fund reported 68 shares. Mutual Of America Limited Liability Com stated it has 0.1% in Prudential Financial Inc (NYSE:PRU). Nomura Asset Co holds 0.13% or 69,064 shares in its portfolio. Hbk Sorce Advisory Limited Liability has invested 0.06% in Prudential Financial Inc (NYSE:PRU). 290 were accumulated by Mcf Advsr Llc. Amer National Registered Advisor Inc invested 1.15% in Prudential Financial Inc (NYSE:PRU). First United Natl Bank Trust accumulated 16,210 shares. Argent Cap Limited Liability Corporation invested in 212,790 shares or 0.9% of the stock. Guardian Life Insur Of America has 0.03% invested in Prudential Financial Inc (NYSE:PRU). Ing Groep Nv owns 26,645 shares. Glenmede Company Na reported 29,480 shares stake. Cantab Prtn Ltd Liability Partnership holds 0% of its portfolio in Prudential Financial Inc (NYSE:PRU) for 1,790 shares. The New York-based M&R Cap Mngmt has invested 0.05% in Prudential Financial Inc (NYSE:PRU). Jnba Fincl has invested 0% in Prudential Financial Inc (NYSE:PRU).

Since February 16, 2017, it had 3 insider buys, and 4 selling transactions for $36.42 million activity. TODMAN MICHAEL bought 450 shares worth $50,000. Paz George also bought $55,365 worth of Prudential Financial Inc (NYSE:PRU) shares. $22,562 worth of stock was bought by Pianalto Sandra on Friday, March 3. 33,743 shares were sold by Koster Barbara, worth $3.81M on Thursday, March 2. Pelletier Stephen sold $7.99 million worth of Prudential Financial Inc (NYSE:PRU) on Thursday, February 16. Harris Timothy P also sold $674,135 worth of Prudential Financial Inc (NYSE:PRU) on Friday, February 17. Shares for $24.08M were sold by Lowrey Charles F.

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.

Analysts await Prudential Financial Inc (NYSE:PRU) to report earnings on August, 2. They expect $2.68 EPS, up 45.65 % or $0.84 from last year’s $1.84 per share. PRU’s profit will be $1.15 billion for 10.38 P/E if the $2.68 EPS becomes a reality. After $2.79 actual EPS reported by Prudential Financial Inc for the previous quarter, Wall Street now forecasts -3.94 % negative EPS growth.

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 stock has “Equal-Weight” rating by Morgan Stanley on Wednesday, December 14. Citigroup initiated the stock with “Neutral” rating in Thursday, January 26 report. The rating was maintained by Credit Suisse with “Hold” on Friday, April 28. The firm has “Outperform” rating by FBR Capital given on Monday, May 16. The company was maintained on Tuesday, June 6 by Wells Fargo. The stock of Prudential Financial Inc (NYSE:PRU) has “Buy” rating given on Friday, September 23 by Goldman Sachs. On Monday, November 28 the stock rating was maintained by FBR Capital with “Mkt Perform”. Wells Fargo reinitiated the stock with “Market Perform” rating in Friday, September 23 report. Zacks upgraded Prudential Financial Inc (NYSE:PRU) rating on Monday, September 7. Zacks has “Buy” rating and $86 target. As per Friday, November 18, the company rating was upgraded by Bank of America.

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

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