Prudential Financial, Inc. (PRU) Raised to Buy at Citigroup Inc.

Prudential Financial, Inc. (NYSE:PRU) was upgraded by equities research analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other research analysts have also recently issued reports on the company. BidaskClub cut Prudential Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Royal Bank Of Canada reiterated a “hold” rating and set a $117.00 price objective on shares of Prudential Financial in a research note on Wednesday, September 6th. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research note on Tuesday, October 10th. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Finally, Morgan Stanley boosted their price target on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $114.61.

Shares of Prudential Financial (NYSE:PRU) opened at 109.37 on Tuesday. Prudential Financial has a 52-week low of $82.45 and a 52-week high of $115.26. The company has a 50-day moving average price of $104.79 and a 200-day moving average price of $106.71. The stock has a market capitalization of $46.70 billion, a price-to-earnings ratio of 12.21 and a beta of 1.51.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($0.61). The company had revenue of $13.03 billion for the quarter, compared to analysts’ expectations of $12.45 billion. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. During the same quarter in the previous year, the firm posted $1.84 EPS. On average, equities analysts anticipate that Prudential Financial will post $10.14 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Prudential Financial, Inc. (PRU) Raised to Buy at Citigroup Inc.” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another website, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/17/prudential-financial-inc-pru-raised-to-buy-at-citigroup-inc.html.

In related news, insider Stephen Pelletier sold 4,133 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $112.18, for a total transaction of $463,639.94. Following the completion of the sale, the insider now owns 10,924 shares in the company, valued at $1,225,454.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas C. Silitch sold 14,897 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total value of $1,638,670.00. Following the sale, the insider now owns 21,274 shares of the company’s stock, valued at approximately $2,340,140. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of PRU. Tredje AP fonden increased its position in Prudential Financial by 18.7% during the first quarter. Tredje AP fonden now owns 47,060 shares of the financial services provider’s stock valued at $5,020,000 after acquiring an additional 7,415 shares during the last quarter. Westpac Banking Corp increased its position in Prudential Financial by 103.7% during the first quarter. Westpac Banking Corp now owns 54,100 shares of the financial services provider’s stock valued at $5,100,000 after acquiring an additional 27,536 shares during the last quarter. Argent Capital Management LLC increased its position in Prudential Financial by 1.1% during the first quarter. Argent Capital Management LLC now owns 215,026 shares of the financial services provider’s stock valued at $22,939,000 after acquiring an additional 2,236 shares during the last quarter. Comerica Securities Inc. purchased a new stak

A number of other research analysts have also recently issued reports on the company. BidaskClub cut Prudential Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Royal Bank Of Canada reiterated a “hold” rating and set a $117.00 price objective on shares of Prudential Financial in a research note on Wednesday, September 6th. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research note on Tuesday, October 10th. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Finally, Morgan Stanley boosted their price target on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $114.61.

Shares of Prudential Financial (NYSE:PRU) opened at 109.37 on Tuesday. Prudential Financial has a 52-week low of $82.45 and a 52-week high of $115.26. The company has a 50-day moving average price of $104.79 and a 200-day moving average price of $106.71. The stock has a market capitalization of $46.70 billion, a price-to-earnings ratio of 12.21 and a beta of 1.51.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($0.61). The company had revenue of $13.03 billion for the quarter, compared to analysts’ expectations of $12.45 billion. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. During the same quarter in the previous year, the firm posted $1.84 EPS. On average, equities analysts anticipate that Prudential Financial will post $10.14 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Prudential Financial, Inc. (PRU) Raised to Buy at Citigroup Inc.” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another website, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/17/prudential-financial-inc-pru-raised-to-buy-at-citigroup-inc.html.

In related news, insider Stephen Pelletier sold 4,133 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $112.18, for a total transaction of $463,639.94. Following the completion of the sale, the insider now owns 10,924 shares in the company, valued at $1,225,454.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas C. Silitch sold 14,897 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total value of $1,638,670.00. Following the sale, the insider now owns 21,274 shares of the company’s stock, valued at approximately $2,340,140. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of PRU. Tredje AP fonden increased its position in Prudential Financial by 18.7% during the first quarter. Tredje AP fonden now owns 47,060 shares of the financial services provider’s stock valued at $5,020,000 after acquiring an additional 7,415 shares during the last quarter. Westpac Banking Corp increased its position in Prudential Financial by 103.7% during the first quarter. Westpac Banking Corp now owns 54,100 shares of the financial services provider’s stock valued at $5,100,000 after acquiring an additional 27,536 shares during the last quarter. Argent Capital Management LLC increased its position in Prudential Financial by 1.1% during the first quarter. Argent Capital Management LLC now owns 215,026 shares of the financial services provider’s stock valued at $22,939,000 after acquiring an additional 2,236 shares during the last quarter. Comerica Securities Inc. purchased a new stake in Prudential Financial during the first quarter valued at $344,000. Finally, AXA increased its position in Prudential Financial by 88.8% during the first quarter. AXA now owns 212,157 shares of the financial services provider’s stock valued at $22,633,000 after acquiring an additional 99,768 shares during the last quarter. Institutional investors own 64.41% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

Analyst Recommendations for Prudential Financial (NYSE:PRU)

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