Prudential Financial Inc

PRU: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$283.00	Rwdj	Vqqrcgzg

Higher Variable Investment Boosts Prudential’s Profits, but This May Prove To Be Ephemeral

Rajiv Bhatia

Feb 4, 2022

Prudential reported a strong finish to 2021 with adjusted EPS Of $3.18 easily topping the FactSet consensus of $2.36. Similar to peer MetLife, variable investment income continues to be elevated, and we expect this to normalize. Excluding variable investment income, underlying business trends were generally mixed. We will maintain our no-moat rating and our $90 fair value estimate on Prudential's shares.

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