BMO Capital Markets began coverage on shares of Prudential Financial (NYSE:PRU – Free Report) in a report published on Thursday morning, MarketBeat.com reports. The brokerage issued an underperform rating and a $101.00 target price on the financial services provider’s stock.
Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company decreased their price target on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group increased their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Barclays dropped their price target on shares of Prudential Financial from $129.00 to $127.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Keefe, Bruyette & Woods lowered their target price on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research note on Thursday, January 16th. Finally, Bank of America upped their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $125.31.
Check Out Our Latest Analysis on Prudential Financial
Prudential Financial Stock Down 0.5 %
Prudential Financial (NYSE:PRU – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the previous year, the business earned $3.44 earnings per share. On average, research analysts forecast that Prudential Financial will post 13.26 EPS for the current year.
Prudential Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were paid a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.45%. Prudential Financial’s payout ratio is 46.22%.
Insider Activity at Prudential Financial
In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in shares of Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after buying an additional 1,267,571 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Prudential Financial by 176.8% during the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after acquiring an additional 665,180 shares during the period. AQR Capital Management LLC increased its stake in shares of Prudential Financial by 97.4% during the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after purchasing an additional 357,300 shares during the last quarter. FMR LLC raised its holdings in shares of Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after purchasing an additional 344,254 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after purchasing an additional 341,787 shares during the period. Institutional investors own 56.83% of the company’s stock.
About Prudential Financial
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.
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