Insurance and financial services provider Prudential Financial Inc. (PRU) on Tuesday saw its shares downgraded by analysts at Argus Research.
The firm said it cut its rating on PRU from “Buy” to “Hold.” Argus made the move based on the company’s high international exposure to weak European markets, as well as a lack of transparency into near-term earnings trends.
Prudential Financial shares, which have lost 1% of their value year-to-date, posted small losses in early trading Tuesday.
The Bottom Line
Shares of Prudential Financial (PRU) have a 2.91% dividend yield, based on last night’s closing stock price of $49.81. The stock has technical support in the $44-$45 price area. If the shares can firm up, we see overhead resistance around the $55 price level.
Prudential Financial Inc. (PRU) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.