Prudential Financial Inc (NYSE:PRU) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 4,240,000 shares, a decrease of 15.9% from the December 15th total of 5,040,000 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily volume of 2,010,000 shares, the short-interest ratio is presently 2.1 days.
Shares of PRU stock traded down $0.14 during trading hours on Tuesday, reaching $94.93. 1,774,064 shares of the stock were exchanged, compared to its average volume of 1,921,628. The business’s fifty day moving average is $93.64 and its two-hundred day moving average is $91.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11. Prudential Financial has a 12-month low of $77.65 and a 12-month high of $106.39. The firm has a market capitalization of $37.95 billion, a P/E ratio of 8.12, a P/E/G ratio of 0.84 and a beta of 1.59.
Prudential Financial (NYSE:PRU) last released its earnings results on Monday, November 4th. The financial services provider reported $3.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.07 by $0.15. Prudential Financial had a net margin of 6.67% and a return on equity of 8.45%. The firm had revenue of $12.93 billion for the quarter, compared to analyst estimates of $14.27 billion. During the same period in the prior year, the firm earned $3.15 earnings per share. As a group, equities research analysts predict that Prudential Financial will post 11.59 earnings per share for the current fiscal year.
PRU has been the topic of a number of recent research reports. DOWLING & PARTN reiterated a “buy” rating on shares of Prudential Financial in a research note on Monday, November 18th. Royal Bank of Canada reiterated a “buy” rating and set a $110.00 price target on shares of Prudential Financial in a research note on Sunday, December 22nd. UBS Group boosted their price target on shares of Prudential Financial from $84.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods lowered shares of Prudential Financial from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $107.00 to $102.00 in a research note on Wednesday, November 6th. Finally, Wells Fargo & Co lowered shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $92.00 price target on the stock. in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $97.75.
Several hedge funds have recently added to or reduced their stakes in PRU. Nuveen Asset Management LLC increased its stake in shares of Prudential Financial by 14,775.2% during the second quarter. Nuveen Asset Management LLC now owns 3,268,078 shares of the financial services provider’s stock worth $330,076,000 after buying an additional 3,246,108 shares during the period. Nippon Life Insurance Co. increased its stake in shares of Prudential Financial by 72.0% during the third quarter. Nippon Life Insurance Co. now owns 4,401,995 shares of the financial services provider’s stock worth $395,959,000 after buying an additional 1,841,995 shares during the period. BlackRock Inc. increased its stake in shares of Prudential Financial by 6.2% during the second quarter. BlackRock Inc. now owns 31,395,669 shares of the financial services provider’s stock worth $3,170,962,000 after buying an additional 1,840,652 shares during the period. Invesco Ltd. increased its stake in shares of Prudential Financial by 72.7% during the second quarter. Invesco Ltd. now owns 3,825,999 shares of the financial services provider’s stock worth $386,426,000 after buying an additional 1,610,600 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Prudential Financial by 1.0% during the second quarter. Vanguard Group Inc. now owns 32,659,263 shares of the financial services provider’s stock worth $3,298,586,000 after buying an additional 324,451 shares during the period. Hedge funds and other institutional investors own 62.20% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
Featured Story: What is diluted earnings per share (Diluted EPS)?
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.