Prudential Financial, Inc. (NYSE:PRU) Receives $123.69 Average Target Price from Brokerages

Shares of Prudential Financial, Inc. (NYSE:PRU) have received a consensus rating of “Hold” from the fourteen brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $123.69.

PRU has been the topic of a number of research analyst reports. TD Cowen initiated coverage on shares of Prudential Financial in a research report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. UBS Group upped their target price on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Bank of America boosted their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th.

Prudential Financial Trading Up 0.2 %

Shares of PRU stock opened at $125.36 on Tuesday. The company has a market cap of $44.75 billion, a P/E ratio of 16.11, a PEG ratio of 0.96 and a beta of 1.30. Prudential Financial has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The stock has a 50 day simple moving average of $119.79 and a two-hundred day simple moving average of $117.69. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last released its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. Research analysts forecast that Prudential Financial will post 13.3 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.15%. Prudential Financial’s dividend payout ratio is currently 66.84%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Annex Advisory Services LLC grew its position in shares of Prudential Financial by 3.4% in the second quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 81 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Prudential Financial by 1.1% during the second quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock valued at $951,000 after buying an additional 87 shares during the period. Peoples Bank OH lifted its holdings in shares of Prudential Financial by 2.3% in the first quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock worth $475,000 after buying an additional 90 shares in the last quarter. Quotient Wealth Partners LLC boosted its position in shares of Prudential Financial by 3.9% in the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 92 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in Prudential Financial by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 94 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

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 PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.