Shares of Prudential Financial Inc (NYSE:PRU) have been assigned a consensus recommendation of “Buy” from the fifteen analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $120.00.
PRU has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research report on Monday, October 8th. Morgan Stanley decreased their target price on shares of Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 8th. Credit Suisse Group decreased their target price on shares of Prudential Financial from $102.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. Goldman Sachs Group upgraded shares of Prudential Financial from a “buy” rating to a “conviction-buy” rating in a research report on Monday, September 10th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $122.00 price target on shares of Prudential Financial in a report on Friday, August 3rd.
Get Prudential Financial alerts: NYSE:PRU traded down $0.24 during trading hours on Thursday, reaching $92.61. The company’s stock had a trading volume of 2,677,567 shares, 2,074,613. The stock has a market cap of $38.69 billion, a PE ratio of 8.75, a PEG ratio of 0.85 and a beta of 1.44. Prudential Financial has a 1 year low of $89.33 and a 1 year high of $127.14. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.37.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, November 7th. The financial services provider reported $3.15 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.01). $14.43 billion during the quarter, compared to analysts’ expectations of $13.51 billion. Prudential Financial had a return on equity of 10.20% and a net margin of 12.59%. During the same quarter in the previous year, the business earned $3.01 EPS. Sell-side analysts anticipate that Prudential Financial will post 12.2 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Monday, November 26th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Friday, November 23rd. Prudential Financial’s dividend payout ratio (DPR) is presently 34.03%.
In other news, insider Scott Sleyster sold 23,300 shares of Prudential Financial stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $99.74, for a total transaction of $2,323,942.00. Following the sale, the insider now owns 57,758 shares of the company’s stock, valued at approximately $5,760,782.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website . Also, major shareholder Prudential Financial Inc bought 880,000 shares of the business’s stock in a transaction dated Tuesday, October 16th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $22,000,000.00. The disclosure for this purchase can be found here . 0.61% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Natixis boosted its stake in shares of Prudential Financial by 6,036.0% during the 2nd quarter. Natixis now owns 845,049 shares of the financial services provider’s stock valued at $79,021,000 after purchasing an additional 831,277 shares in the last quarter. NEXT Financial Group Inc bought a new stake in shares of Prudential Financial during the 3rd quarter valued at about $232,000. Putnam Investments LLC boosted its stake in shares of Prudential Financial by 4.3% during the 2nd quarter. Putnam Investments LLC now owns 382,036 shares of the financial services provider’s stock valued at $35,724,000 after purchasing an additional 15,636 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Prudential Financial by 31.2% during the 2nd quarter. Renaissance Technologies LLC now owns 822,747 shares of the financial services provider’s stock valued at $76,935,000 after purchasing an additional 195,647 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC bought a new stake in shares of Prudential Financial during the 3rd quarter valued at about $3,965,000. 63.24% of the stock is currently owned by hedge funds and other institutional investors.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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