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

Prudential Financial, Inc. (NYSE:PRU) has been assigned an average recommendation of “Hold” from the thirteen analysts that are covering the firm, MarketBeat.com reports. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $125.69.

A number of equities research analysts have recently commented on PRU shares. UBS Group increased their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Citigroup increased their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Barclays increased their target price on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their target price for the stock from $117.00 to $140.00 in a research note on Thursday. Finally, Bank of America increased their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th.

Prudential Financial Stock Up 1.3 %

NYSE:PRU opened at $127.41 on Friday. The company’s 50 day moving average is $121.92 and its two-hundred day moving average is $119.11. The company has a market cap of $45.36 billion, a PE ratio of 11.33, a P/E/G ratio of 0.89 and a beta of 1.29. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial has a twelve month low of $93.32 and a twelve month high of $129.13.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the previous year, the business posted $3.44 EPS. Analysts anticipate that Prudential Financial will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be given a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.08%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company’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 completion of the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 6.61 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Prudential Financial

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its stake in shares of Prudential Financial by 4,130.8% during the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after purchasing an additional 1,267,571 shares in the last quarter. AQR Capital Management LLC grew its stake in Prudential Financial by 97.4% in the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after acquiring an additional 357,300 shares during the period. FMR LLC grew its stake in Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after acquiring an additional 344,254 shares during the period. Swedbank AB acquired a new stake in Prudential Financial during the 1st quarter worth $35,855,000. Finally, Legal & General Group Plc boosted its stake in Prudential Financial by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after purchasing an additional 305,143 shares during 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.