Prudential Financial, Inc. (NYSE:PRU) is one of the best dividend stocks yielding at least 5% to buy according to hedge funds.
Pixabay/Public Domain On June 24, Piper Sandler raised its price target on Prudential Financial, Inc. (NYSE:PRU) to $110 from $105, while maintaining a Neutral rating
The firm noted that its revised model incorporates recent company commentary, seasonal factors, and expectations for variable investment income, according to the analyst’s research note. On June 9, Argus downgraded Prudential Financial to a Hold from a Buy, citing challenges the company is facing in Japan. The company has already suspended all new policies in Japan due to internal misconduct involving employees misappropriating customer funds.
Amid the suspension, the company has also begun overhauling its management, compliance, and governance structures. The research firm plans to return Prudential Financial to its buy list once there is clarity in the ongoing standoff in Japan. Likewise, it remains confident about the long-term outlook given the company’s long-term above-average return on equity and high dividend yield.