Piper Sandler lowered the firm’s price target on Prudential (PRU) to $124 from $127 and keeps a Neutral rating on the shares. The firm notes Prudential announced PGIM’s AUM of $1.38 trillion in Q4, which is below Piper’s estimate of $1.44 trillion and represents 1.4% quarter-over-quarter decline, an incremental negative. Favorably though, variable investment income went from 11c below plan in Q3 to 4c above plan in Q4 at mid-point, Piper adds.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PRU:
- Prudential price target lowered to $113 from $115 at Wells Fargo
- Prudential Financial’s Strong Q4 Despite Income Revision
- Prudential price target lowered to $115 from $117 at Wells Fargo
- Prudential price target raised to $129 from $119 at Barclays
- Prudential enters collaboration with Empathy for holistic bereavement support