The company reiterated its long-term ROE (Return on Equity) goal of 13% to 14%, and this strong result should be achievable driven by its diversified business mix including Japan, according to the analyst note.
"Prudential Financial is our top pick in life insurance based on a strong return profile, attractive business, mix, attractive ROE profile, and among the cheapest P/E valuations in the life insurance sector," Barclays analysts said.
Prudential, the second-largest U.S. life insurer, has agreed in recent years to take on pension obligations from large employers such as General Motors (GM) and Verizon Communications (VZ), according to Bloomberg.
Prudential Financial is a financial services company that provides financial products and services including life insurance, annuities, retirement-related services, mutual funds and investment management.
Separately, TheStreet Ratings team rates PRUDENTIAL FINANCIAL INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate PRUDENTIAL FINANCIAL INC (PRU) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and good cash flow from operations. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."