Prudential Financial, Inc. (NYSE:PRU) Given Average Rating of “Hold” by Brokerages

Shares of Prudential Financial, Inc. (NYSE:PRU) have been given an average recommendation of “Hold” by the thirteen ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $126.15.

A number of equities analysts recently weighed in on the stock. Piper Sandler reduced their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays increased their price objective on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Wells Fargo & Company boosted their target price on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Morgan Stanley decreased their price target on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Finally, Jefferies Financial Group boosted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of Prudential Financial stock in a transaction dated Tuesday, March 25th. The stock was bought at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the purchase, the insider now owns 139,987 shares of the company’s stock, valued at $3,992,429.24. The trade was a 60.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares in the company, valued at $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Prudential Financial

Several hedge funds and other institutional investors have recently modified their holdings of PRU. Grove Bank & Trust raised its holdings in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Prudential Financial during the fourth quarter worth approximately $29,000. CGC Financial Services LLC lifted its holdings in Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new stake in Prudential Financial in the 4th quarter valued at $33,000. Finally, Quarry LP increased its position in Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after buying an additional 222 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

PRU stock opened at $114.50 on Friday. Prudential Financial has a 1-year low of $104.45 and a 1-year high of $130.55. The business’s 50-day moving average price is $113.27 and its two-hundred day moving average price is $118.95. The firm has a market cap of $40.99 billion, a PE ratio of 15.33, a P/E/G ratio of 0.98 and a beta of 1.28. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, research analysts forecast that Prudential Financial will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.72%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 72.29%.

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.