Prudential Financial, Inc. (NYSE:PRU) Receives $115.25 Consensus Target Price from Analysts

Prudential Financial, Inc. (NYSE:PRU) has received a consensus rating of “Reduce” from the twelve brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $115.25.

PRU has been the topic of several research reports. Morgan Stanley raised their price objective on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Wells Fargo & Company raised their price objective on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Jefferies Financial Group raised Prudential Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $121.00 to $143.00 in a report on Wednesday, May 22nd. Evercore ISI raised their price target on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Finally, Piper Sandler lowered their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 6th.

Prudential Financial Stock Up 0.6 %

Prudential Financial stock opened at $117.73 on Wednesday. Prudential Financial has a 1-year low of $83.34 and a 1-year high of $121.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market cap of $42.27 billion, a PE ratio of 20.02, a P/E/G ratio of 0.87 and a beta of 1.35. The stock’s fifty day moving average is $115.44 and its two-hundred day moving average is $110.21.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). The firm had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The business’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.66 EPS. On average, sell-side analysts expect that Prudential Financial will post 13.41 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were given a dividend of $1.30 per share. The ex-dividend date was Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.42%. Prudential Financial’s payout ratio is 88.44%.

Insider Activity

In related news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at approximately $1,426,472.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now directly owns 202,083 shares in the company, valued at approximately $23,960,981.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the sale, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Trading of Prudential Financial

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Prudential Financial by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after purchasing an additional 5,154,865 shares during the period. International Assets Investment Management LLC lifted its holdings in Prudential Financial by 9,281.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after buying an additional 1,354,248 shares in the last quarter. Norges Bank acquired a new position in Prudential Financial in the 4th quarter worth $113,478,000. Dimensional Fund Advisors LP lifted its holdings in Prudential Financial by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock worth $414,926,000 after buying an additional 388,363 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Prudential Financial in the 3rd quarter worth $34,251,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

About Prudential Financial

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.