Prudential Financial, Inc. (PRU) Now Covered by Goldman Sachs Group, Inc. (The)

Analysts at Goldman Sachs Group, Inc. (The) initiated coverage on shares of Prudential Financial, Inc. (NYSE:PRU) in a research report issued on Wednesday. The brokerage set a “neutral” rating and a $114.00 price target on the financial services provider’s stock. Goldman Sachs Group, Inc. (The)’s price objective suggests a potential upside of 4.01% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Citigroup Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target on the stock in a report on Tuesday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $121.00 price target on shares of Prudential Financial in a research note on Monday. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Tuesday, October 10th. FBR & Co raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $117.00 to $100.00 in a research note on Tuesday, October 10th. Finally, Morgan Stanley upped their price objective on shares of Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $114.56.

Prudential Financial (NYSE:PRU) traded up 1.02% during mid-day trading on Wednesday, reaching $110.72. The company’s stock had a trading volume of 990,091 shares. Prudential Financial has a 52 week low of $82.45 and a 52 week high of $115.26. The firm has a 50-day moving average of $105.53 and a 200-day moving average of $106.78. The stock has a market capitalization of $47.28 billion, a price-to-earnings ratio of 12.36 and a beta of 1.51.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.61). The firm had revenue of $13.03 billion during the quarter, compared to analyst estimates of $12.45 billion. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. During the same quarter last year, the company earned $1.84 earnings per share. On average, equities research analysts expect that Prudential Financial will post $10.15 earnings per share for the current year.

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In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of Prudential Financial stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $112.18, for a total transaction of $463,639.94. Following the transaction, the insider now directly owns 10,924 shares of the company’s stock, valued at $1,225,454.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas C. Silitch sold 14,897 shares of Prudential Financial stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the transaction, the insider now directly owns 21,274 shares in the company, valued at $2,340,140. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. increased its position in Prudential Financial by 25.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 21,649 shares of the financial services provider’s stock valued at $2,341,000 after purchasing an additional 4,372 shares during the period. Seizert Capital Partners LLC boosted its holdings in shares of Prudential Financial by 2.2% during the 2nd quarter. Seizert Capital Partners LLC now owns 114,414 shares of the financial services provider’s stock valued at $12,373,000 after buying an additional 2,421 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Prudential Financial by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 9,822 shares of the financial services provider’s stock valued at $1,062,000 after buying an additional 754 shares in the last quarter. IFM Investors Pty Ltd bought a new stake in shares of Prudential Financial during the 2nd quarter valued at $1,256,000. Finally, Lumbard & Kellner LLC boosted its holdings in shares of Prudential Financial by 3.0% during the 2nd quarter. Lumbard & Kellner LLC now owns 76,594 shares of the financial services provider’s stock valued at $8,283,000 after buying an additional 2,248 shares in the last quarter. 64.41% of the stock is currently owned by institutional investors and hedge funds.

About Prudential Financial

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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