Prudential Financial, Inc. (NYSE:PRU) Given Average Recommendation of “Reduce” by Brokerages

Prudential Financial, Inc. (NYSE:PRU) has earned an average recommendation of “Reduce” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and nine have assigned a hold recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $105.60.

PRU has been the subject of a number of analyst reports. UBS Group increased their target price on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Morgan Stanley increased their price target on shares of Prudential Financial from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $118.00 price target (down from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. TheStreet raised shares of Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Finally, Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th.

Prudential Financial Price Performance

Prudential Financial stock opened at $115.89 on Friday. The business’s 50 day simple moving average is $109.83 and its 200 day simple moving average is $101.84. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial has a 12 month low of $77.22 and a 12 month high of $118.69. The company has a market cap of $41.60 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.85 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.09). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The company had revenue of $13.02 billion during the quarter, compared to analysts’ expectations of $12.99 billion. During the same quarter last year, the firm posted $2.42 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Sell-side analysts forecast that Prudential Financial will post 13.4 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.20 annualized dividend and a dividend yield of 4.49%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio (DPR) is 77.73%.

Insider Activity at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 7,685 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total value of $857,415.45. Following the sale, the executive vice president now owns 13,691 shares in the company, valued at $1,527,504.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Robert Axel sold 6,436 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the sale, the senior vice president now owns 7,901 shares in the company, valued at $883,805.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew F. Sullivan sold 7,685 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction of $857,415.45. Following the completion of the sale, the executive vice president now owns 13,691 shares in the company, valued at approximately $1,527,504.87. The disclosure for this sale can be found here. Insiders sold 29,255 shares of company stock valued at $3,215,664 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. First Financial Corp IN boosted its stake in shares of Prudential Financial by 13.7% during the 4th quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 102 shares during the last quarter. McIlrath & Eck LLC raised its position in shares of Prudential Financial by 18.0% during the 4th quarter. McIlrath & Eck LLC now owns 670 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 102 shares during the period. Cambridge Trust Co. raised its position in shares of Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 105 shares during the period. Mechanics Financial Corp raised its position in shares of Prudential Financial by 6.3% during the 4th quarter. Mechanics Financial Corp now owns 1,771 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 105 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Prudential Financial by 0.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 37,935 shares of the financial services provider’s stock valued at $3,934,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.