Prudential Financial Inc

PRU: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$481.00	Qdwg	Twkgctqw

Higher Variable Investment Income Boosts Results for Prudential but Likely to Revert

Rajiv Bhatia

Nov 3, 2021

No-moat rated Prudential reported a solid quarter with adjusted operating EPS of $3.78, well above the FactSet consensus of $2.76 as variable investment income was elevated. Fee income was also generally solid, but underwriting trends were generally negative. Overall, there was little that would alter our long-term view of the firm, and we will maintain our fair value estimate of $89.

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