Prudential Financial, Inc. (NYSE:PRU – Get Rating) has received a consensus rating of “Hold” from the fifteen research firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $104.75.
A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Prudential Financial from $122.00 to $118.00 and set a “neutral” rating for the company in a research note on Friday, October 7th. The Goldman Sachs Group cut Prudential Financial from a “neutral” rating to a “sell” rating and cut their price target for the stock from $98.00 to $96.00 in a research note on Monday. Citigroup upped their price objective on shares of Prudential Financial from $98.00 to $105.00 in a research report on Wednesday, November 16th. Royal Bank of Canada lifted their target price on shares of Prudential Financial from $102.00 to $110.00 and gave the company a “sector perform” rating in a report on Thursday, November 3rd. Finally, Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, November 23rd.
Insider Transactions at Prudential Financial
In other news, major shareholder Prudential Financial Inc acquired 285,715 shares of Prudential Financial stock in a transaction dated Thursday, November 17th. The shares were acquired at an average cost of $35.00 per share, with a total value of $10,000,025.00. Following the purchase, the insider now directly owns 285,715 shares of the company’s stock, valued at approximately $10,000,025. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Prudential Financial news, SVP Timothy L. Schmidt sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $103.55, for a total value of $207,100.00. Following the transaction, the senior vice president now directly owns 16,198 shares of the company’s stock, valued at approximately $1,677,302.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Prudential Financial Inc acquired 285,715 shares of the firm’s stock in a transaction on Thursday, November 17th. The shares were bought at an average cost of $35.00 per share, with a total value of $10,000,025.00. Following the completion of the acquisition, the insider now owns 285,715 shares in the company, valued at $10,000,025. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.
Hedge Funds Weigh In On Prudential Financial
Hedge funds have recently bought and sold shares of the company. Fairfield Bush & CO. bought a new position in shares of Prudential Financial during the first quarter valued at approximately $36,000. Blair William & Co. IL raised its position in Prudential Financial by 11.3% during the first quarter. Blair William & Co. IL now owns 50,600 shares of the financial services provider’s stock valued at $5,979,000 after buying an additional 5,126 shares during the period. Sei Investments Co. boosted its holdings in shares of Prudential Financial by 6.4% during the first quarter. Sei Investments Co. now owns 90,235 shares of the financial services provider’s stock worth $10,698,000 after purchasing an additional 5,452 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of Prudential Financial by 0.7% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 47,576 shares of the financial services provider’s stock valued at $5,621,000 after buying an additional 326 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in shares of Prudential Financial by 36.4% during the 1st quarter. Baird Financial Group Inc. now owns 135,716 shares of the financial services provider’s stock valued at $16,037,000 after acquiring an additional 36,184 shares in the last quarter. 56.33% of the stock is currently owned by institutional investors and hedge funds.
Prudential Financial Stock Performance
NYSE PRU opened at $99.35 on Wednesday. The company has a fifty day moving average of $103.16 and a two-hundred day moving average of $98.77. The company has a market capitalization of $36.96 billion, a PE ratio of 137.99 and a beta of 1.41. Prudential Financial has a 1 year low of $85.46 and a 1 year high of $124.22. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.07 and a quick ratio of 0.07.
Prudential Financial (NYSE:PRU – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.08). Prudential Financial had a return on equity of 10.20% and a net margin of 0.52%. The firm had revenue of $21.61 billion for the quarter, compared to analysts’ expectations of $12.76 billion. As a group, analysts expect that Prudential Financial will post 9.62 earnings per share for the current year.
Prudential Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Tuesday, November 22nd were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.83%. The ex-dividend date was Monday, November 21st. Prudential Financial’s dividend payout ratio (DPR) is 666.67%.
Prudential Financial Company Profile
Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.
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