Brokerages Set Prudential Financial, Inc. (NYSE:PRU) Target Price at $125.69

Shares of Prudential Financial, Inc. (NYSE:PRU) have been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $125.69.

Several brokerages recently issued reports on PRU. Wells Fargo & Company raised their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Barclays raised their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. UBS Group lifted their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. TD Cowen began coverage on shares of Prudential Financial in a research report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was acquired at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 6.61 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This trade represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its stake in Prudential Financial by 44.9% in the first quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock valued at $27,327,000 after buying an additional 71,274 shares during the last quarter. ORG Partners LLC acquired a new position in shares of Prudential Financial during the 2nd quarter worth $156,000. PGGM Investments grew its position in Prudential Financial by 98.0% during the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock worth $7,533,000 after buying an additional 31,807 shares during the period. Sei Investments Co. boosted its position in Prudential Financial by 12.9% during the first quarter. Sei Investments Co. now owns 57,853 shares of the financial services provider’s stock worth $6,791,000 after purchasing an additional 6,609 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Prudential Financial by 49.5% during the 1st quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock valued at $9,409,000 after acquiring an additional 26,520 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

PRU opened at $128.17 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial has a 52-week low of $93.32 and a 52-week high of $129.13. The company has a market cap of $45.63 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. The firm’s 50-day moving average price is $122.47 and its 200-day moving average price is $119.44.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter last year, the business posted $3.44 EPS. As a group, equities analysts anticipate that Prudential Financial will post 13.33 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.06%. Prudential Financial’s payout ratio is 46.22%.

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.