Shares of Prudential Financial Inc (NYSE:PRU) have earned an average recommendation of “Hold” from the seventeen ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $80.85.
Several research analysts have recently weighed in on PRU shares. Credit Suisse Group reiterated a “hold” rating and set a $64.00 price objective on shares of Prudential Financial in a report on Wednesday, May 6th. B. Riley cut their price objective on shares of Prudential Financial from $70.00 to $57.00 and set a “neutral” rating on the stock in a report on Tuesday, April 21st. DOWLING & PARTN lowered shares of Prudential Financial from a “buy” rating to a “neutral” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. dropped their target price on shares of Prudential Financial from $108.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Finally, Royal Bank of Canada downgraded shares of Prudential Financial from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $110.00 to $68.00 in a research report on Friday, March 20th.
Shares of NYSE:PRU traded up $1.51 on Tuesday, reaching $60.71. 156,001 shares of the company were exchanged, compared to its average volume of 4,472,987. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.33. Prudential Financial has a 1-year low of $38.62 and a 1-year high of $103.56. The firm has a market cap of $23.38 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 0.70 and a beta of 1.68. The company has a 50-day moving average of $60.85 and a 200-day moving average of $72.34.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $2.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.84 by ($0.52). Prudential Financial had a return on equity of 7.13% and a net margin of 5.16%. The company had revenue of $13.33 billion for the quarter, compared to analyst estimates of $14.81 billion. During the same period last year, the company earned $3.00 earnings per share. As a group, analysts forecast that Prudential Financial will post 9.19 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Tuesday, May 26th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 7.25%. The ex-dividend date of this dividend was Friday, May 22nd. Prudential Financial’s payout ratio is 37.64%.
A number of hedge funds and other institutional investors have recently modified their holdings of PRU. Atlas Private Wealth Management bought a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $26,000. Pathstone Family Office LLC increased its position in shares of Prudential Financial by 46.0% during the first quarter. Pathstone Family Office LLC now owns 524 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 165 shares during the period. HHM Wealth Advisors LLC bought a new stake in shares of Prudential Financial during the first quarter valued at approximately $31,000. Golden State Wealth Management LLC acquired a new stake in Prudential Financial in the 1st quarter valued at $32,000. Finally, Global Financial Private Capital Inc boosted its stake in Prudential Financial by 4,312.5% in the 4th quarter. Global Financial Private Capital Inc now owns 353 shares of the financial services provider’s stock valued at $33,000 after buying an additional 345 shares in the last quarter. 60.59% of the stock is currently owned by institutional investors.
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.
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