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Prudential Financial: Keep Holding Through This Period Of Uncertainty

March 30, 2020

Summary:

*Prudential's stock has significantly underperformed the broader market so far in 2020.

*There are reasons for the poor stock performance - recession fears and a low interest rate environment - but I believe that this insurer will make a comeback in 2020.

*I am long Prudential, and I have plans to add to my position on pullbacks.

 

Prudential Financial's ($PRU) stock has taken a significant hit so far in 2020 due mainly to COVID-19 concerns (and the deteriorating interest rate environment). PRU shares have underperformed the broader market by over 20 percentage points on a year-to-date basis.

 

Investors should definitely be concerned about lower rates and the potential economic impact of COVID-19 but, in my opinion, this steep pullback will eventually turn out to be a great long-term buying opportunity. To this point, I believe that shareholders of this global insurer should use the current dip as an opportunity to add to their PRU positions.

 

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