ValuEngine upgraded shares of Prudential Financial (NYSE:PRU) from a buy rating to a strong-buy rating in a research note released on Tuesday.
Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reaffirmed a buy rating on shares of Prudential Financial in a report on Friday, August 11th. Citigroup raised shares of Prudential Financial from a neutral rating to a buy rating and set a $103.00 target price for the company in a report on Tuesday, October 17th. Zacks Investment Research raised shares of Prudential Financial from a hold rating to a buy rating and set a $122.00 target price for the company in a report on Tuesday, October 10th. FBR & Co raised shares of Prudential Financial from a neutral rating to a buy rating and decreased their target price for the stock from $117.00 to $100.00 in a report on Tuesday, October 10th. Finally, B. Riley reaffirmed a buy rating on shares of Prudential Financial in a report on Monday, November 6th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $115.64.
Shares of Prudential Financial (PRU) traded down $1.25 during midday trading on Tuesday, reaching $115.51. 1,302,100 shares of the company were exchanged, compared to its average volume of 1,853,419. Prudential Financial has a one year low of $97.88 and a one year high of $117.99. The stock has a market cap of $49,506.24, a PE ratio of 11.28, a P/E/G ratio of 1.32 and a beta of 1.55. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.13 and a current ratio of 0.13.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The company had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same period last year, the company posted $2.66 EPS. research analysts anticipate that Prudential Financial will post 10.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, November 27th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, November 24th. This represents a $3.00 annualized dividend and a yield of 2.60%. Prudential Financial’s dividend payout ratio (DPR) is 30.18%.
In other Prudential Financial news, insider Nicholas C. Silitch sold 44,860 shares of Prudential Financial stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the transaction, the insider now owns 27,927 shares of the company’s stock, valued at $3,121,400.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles F. Lowrey sold 44,630 shares of Prudential Financial stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the transaction, the executive vice president now directly owns 79,354 shares in the company, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. Insiders have sold 100,017 shares of company stock valued at $11,219,151 over the last 90 days. 0.66% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the business. Fieldpoint Private Securities LLC purchased a new position in shares of Prudential Financial in the second quarter worth $103,000. Grove Bank & Trust lifted its holdings in shares of Prudential Financial by 507.0% in the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after buying an additional 943 shares in the last quarter. Hudock Capital Group LLC lifted its holdings in shares of Prudential Financial by 0.7% in the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after buying an additional 8 shares in the last quarter. Legacy Advisors LLC purchased a new position in shares of Prudential Financial in the third quarter worth $129,000. Finally, Zions Bancorporation lifted its holdings in shares of Prudential Financial by 44.9% in the third quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock worth $180,000 after buying an additional 524 shares in the last quarter. 64.65% of the stock is currently owned by institutional investors and hedge funds.
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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.
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