Prudential (PRU) Starts at Neutral as Mizuho Launches Broad Insurance Coverage

Group 1: Company Overview - Prudential Financial, Inc. (NYSE:PRU) offers a variety of financial products and services, including life insurance, annuities, mutual funds, and investment management [7] Group 2: Analyst Coverage and Market Position - Mizuho analyst Yaron Kinar initiated coverage of Prudential with a Neutral rating and a price target of $125, as part of a broader launch covering 23 companies, including six life insurers [2] - Mizuho expressed a preference for life insurers, indicating that the group appears undervalued despite ongoing credit-related concerns, while taking a cautious view on property and casualty insurers and insurance brokers due to signs of market softening and potential reserve pressures [2] Group 3: Financial Developments - Prudential announced a share repurchase program of up to $1 billion, effective from January 1, 2026, through December 31, 2026, with repurchases to be executed through various methods [4] - During its Q3 2025 earnings call, Prudential highlighted the completion of the sale of its PGIM Taiwan business, which supports the company's focus on higher-growth opportunities [5] - PGIM reported higher asset management fees due to market appreciation, positive net flows, and strong investment performance, although results included $40 million in reorganization charges related to integrating PGIM's multi-manager structure, partially offset by a $25 million gain from the Taiwan business sale [6]