Prudential Financial Inc (NYSE:PRU) has received a consensus recommendation of “Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $120.00.
A number of brokerages recently commented on PRU. Zacks Investment Research lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, November 14th. Credit Suisse Group decreased their target price on Prudential Financial from $102.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, August 17th. ValuEngine lowered Prudential Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, November 16th. UBS Group boosted their target price on Prudential Financial from $125.00 to $126.00 and gave the company a “buy” rating in a research report on Monday, October 8th. Finally, Morgan Stanley decreased their target price on Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating for the company in a research report on Thursday, November 8th.
In other news, insider Scott Sleyster sold 23,300 shares of the business’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $99.74, for a total value of $2,323,942.00. Following the transaction, the insider now owns 57,758 shares in the company, valued at approximately $5,760,782.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Prudential Financial Inc bought 880,000 shares of the business’s stock in a transaction dated Tuesday, October 16th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $22,000,000.00. The disclosure for this purchase can be found here. 0.66% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PRU. TIAA CREF Investment Management LLC boosted its stake in shares of Prudential Financial by 31.9% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,468,515 shares of the financial services provider’s stock worth $351,430,000 after buying an additional 839,309 shares during the last quarter. Natixis boosted its stake in shares of Prudential Financial by 6,036.0% in the 2nd quarter. Natixis now owns 845,049 shares of the financial services provider’s stock worth $79,021,000 after buying an additional 831,277 shares during the last quarter. CIBC World Markets Inc. boosted its stake in shares of Prudential Financial by 985.8% in the 3rd quarter. CIBC World Markets Inc. now owns 688,124 shares of the financial services provider’s stock worth $69,721,000 after buying an additional 624,750 shares during the last quarter. Rothschild & Co. Asset Management US Inc. purchased a new position in shares of Prudential Financial in the 3rd quarter worth approximately $63,195,000. Finally, Teachers Advisors LLC boosted its stake in shares of Prudential Financial by 52.5% in the 3rd quarter. Teachers Advisors LLC now owns 1,453,338 shares of the financial services provider’s stock worth $147,252,000 after buying an additional 500,185 shares during the last quarter. Hedge funds and other institutional investors own 63.75% of the company’s stock.
Shares of Prudential Financial stock opened at $89.18 on Monday. Prudential Financial has a one year low of $88.48 and a one year high of $127.14. The stock has a market capitalization of $36.83 billion, a P/E ratio of 8.43, a PEG ratio of 0.81 and a beta of 1.41. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.11 and a quick ratio of 0.11.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, November 7th. The financial services provider reported $3.15 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.01). Prudential Financial had a net margin of 12.59% and a return on equity of 10.20%. The firm had revenue of $14.43 billion during the quarter, compared to the consensus estimate of $13.51 billion. During the same period in the previous year, the firm earned $3.01 earnings per share. Analysts expect that Prudential Financial will post 12.19 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, November 23rd. This represents a $3.60 dividend on an annualized basis and a yield of 4.04%. Prudential Financial’s dividend payout ratio (DPR) is currently 34.03%.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
Featured Story: What is Net Asset Value (NAV)?
Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.