Prudential Financial, Inc. (NYSE:PRU) was upgraded by investment analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, October 17th, MarketBeat Ratings reports. The firm currently has a $103.00 price target on the financial services provider’s stock. Citigroup Inc.’s price target suggests a potential downside of 8.05% from the company’s current price.
Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. BidaskClub upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. 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 report on Tuesday, October 10th. FBR & Co upgraded Prudential Financial from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $117.00 to $100.00 in a research report on Tuesday, October 10th. Finally, Morgan Stanley increased their price objective on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Prudential Financial presently has an average rating of “Buy” and an average target price of $114.56.
Shares of Prudential Financial (PRU) traded up 0.12% during mid-day trading on Tuesday, reaching $112.02. The company’s stock had a trading volume of 1,091,432 shares. The company has a 50-day moving average price of $106.46 and a 200 day moving average price of $106.93. Prudential Financial has a 52-week low of $83.09 and a 52-week high of $115.26. The company has a market cap of $47.83 billion, a PE ratio of 12.51 and a beta of 1.51.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing the consensus estimate of $2.70 by ($0.61). The business had revenue of $13.03 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $1.84 earnings per share. Equities analysts expect that Prudential Financial will post $10.16 earnings per share for the current year.
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In other Prudential Financial news, insider Nicholas C. Silitch sold 14,897 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the sale, the insider now directly owns 21,274 shares in the company, valued at $2,340,140. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Pelletier sold 4,133 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $112.18, for a total value 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 disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of PRU. BlackRock Inc. raised its stake in Prudential Financial by 3,296.9% in the first quarter. BlackRock Inc. now owns 32,220,957 shares of the financial services provider’s stock valued at $3,437,330,000 after buying an additional 31,272,429 shares in the last quarter. APG Asset Management N.V. raised its stake in Prudential Financial by 171.8% in the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock valued at $287,566,000 after buying an additional 1,709,699 shares in the last quarter. Janus Henderson Group PLC raised its stake in Prudential Financial by 1,997.1% in the second quarter. Janus Henderson Group PLC now owns 1,204,160 shares of the financial services provider’s stock valued at $130,218,000 after buying an additional 1,146,739 shares in the last quarter. Vanguard Group Inc. raised its stake in Prudential Financial by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock valued at $3,229,469,000 after buying an additional 968,500 shares in the last quarter. Finally, AJO LP raised its stake in Prudential Financial by 42.8% in the second quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock valued at $296,672,000 after buying an additional 821,881 shares in the last quarter. Institutional investors own 64.39% 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.
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