Prudential Financial, Inc. (NYSE:PRU) Receives $123.69 Consensus Target Price from Brokerages

Prudential Financial, Inc. (NYSE:PRU) has been given a consensus recommendation of “Hold” by the fourteen analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $123.69.

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. TD Cowen began coverage on Prudential Financial in a research report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price for the company. Morgan Stanley reduced their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Finally, UBS Group boosted their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $125.36 on Tuesday. The stock’s 50-day simple moving average is $119.79 and its two-hundred day simple moving average is $117.69. Prudential Financial has a twelve month low of $87.95 and a twelve month high of $128.52. The firm has a market capitalization of $44.75 billion, a P/E ratio of 16.11, a P/E/G ratio of 0.96 and a beta of 1.30. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. As a group, equities analysts anticipate that Prudential Financial will post 13.3 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is currently 66.84%.

Insider Buying and Selling at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Prudential Financial

Several institutional investors and hedge funds have recently modified their holdings of PRU. International Assets Investment Management LLC boosted its stake 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 worth $157,219,000 after acquiring an additional 1,267,571 shares during the period. AQR Capital Management LLC raised its position in shares of Prudential Financial by 97.4% during the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after buying an additional 357,300 shares during the last quarter. Swedbank AB purchased a new position in shares of Prudential Financial in the first quarter worth $35,855,000. Legal & General Group Plc boosted its position in shares of Prudential Financial by 9.4% during the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after acquiring an additional 305,143 shares during the last quarter. Finally, OFI Invest Asset Management grew its stake in Prudential Financial by 10,529.7% during the second quarter. OFI Invest Asset Management now owns 155,513 shares of the financial services provider’s stock valued at $17,004,000 after acquiring an additional 154,050 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

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.