Brokerages Set Prudential Financial, Inc. (NYSE:PRU) Price Target at $126.33

Shares of Prudential Financial, Inc. (NYSE:PRU) have been assigned a consensus recommendation of “Hold” from the thirteen analysts that are covering the firm, MarketBeat reports. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $126.33.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Bank of America raised their price objective on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. TD Cowen upped their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of Prudential Financial by 4,130.8% in the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after buying an additional 1,267,571 shares during the last quarter. AQR Capital Management LLC raised its holdings in Prudential Financial by 97.4% in the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after acquiring an additional 357,300 shares during the last quarter. FMR LLC boosted its holdings in shares of Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after purchasing an additional 344,254 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Prudential Financial by 4.1% in the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after purchasing an additional 341,787 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after purchasing an additional 305,143 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Down 0.1 %

Shares of NYSE PRU opened at $120.48 on Wednesday. The company has a market cap of $42.89 billion, a P/E ratio of 10.72, a PEG ratio of 0.86 and a beta of 1.29. The firm has a 50-day simple moving average of $125.04 and a two-hundred day simple moving average of $120.44. Prudential Financial has a 1 year low of $100.60 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $14.57 billion. During the same quarter in the previous year, the business earned $3.44 EPS. Research analysts anticipate that Prudential Financial will post 13.35 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Tuesday, November 19th. 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.