Brokerages Set Prudential Financial Inc. (NYSE:PRU) PT at $89.69
Shares of Prudential Financial Inc. (NYSE:PRU) have received a consensus rating of “Buy” from the twenty-one ratings firms that are currently covering the firm. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $89.69.
PRU has been the topic of a number of research analyst reports. Evercore ISI initiated coverage on shares of Prudential Financial in a report on Wednesday, July 6th. They issued a “hold” rating and a $78.00 price target on the stock. Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. Goldman Sachs Group Inc. raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $93.00 in a report on Friday, September 23rd. Citigroup Inc. cut their price target on shares of Prudential Financial from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. Finally, Deutsche Bank AG cut their price target on shares of Prudential Financial from $90.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, July 7th.
In other Prudential Financial news, CFO Robert Falzon sold 33,820 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $77.13, for a total transaction of $2,608,536.60. Following the transaction, the chief financial officer now directly owns 70,264 shares in the company, valued at $5,419,462.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charles F. Lowrey sold 41,644 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $80.00, for a total transaction of $3,331,520.00. Following the transaction, the insider now owns 98,307 shares in the company, valued at $7,864,560. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PRU. Americafirst Capital Management LLC acquired a new position in shares of Prudential Financial during the second quarter worth approximately $100,000. Bessemer Group Inc. boosted its position in shares of Prudential Financial by 6.7% in the second quarter. Bessemer Group Inc. now owns 1,516 shares of the company’s stock worth $108,000 after buying an additional 95 shares during the last quarter. Gierl Augustine Investment Management Inc boosted its position in shares of Prudential Financial by 14.4% in the second quarter. Gierl Augustine Investment Management Inc now owns 1,632 shares of the company’s stock worth $116,000 after buying an additional 206 shares during the last quarter. Howard Hughes Medical Institute acquired a new position in shares of Prudential Financial during the first quarter worth approximately $119,000. Finally, Cantab Capital Partners LLP acquired a new position in shares of Prudential Financial during the second quarter worth approximately $132,000. Institutional investors and hedge funds own 60.62% of the company’s stock.
Prudential Financial (NYSE:PRU) opened at 81.65 on Friday. Prudential Financial has a 12-month low of $57.19 and a 12-month high of $88.77. The company has a market capitalization of $35.68 billion, a price-to-earnings ratio of 8.39 and a beta of 1.62. The firm has a 50-day moving average of $78.74 and a 200 day moving average of $75.82.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $1.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.51 by $0.67. Prudential Financial had a return on equity of 8.11% and a net margin of 8.90%. During the same quarter in the previous year, the company earned $2.91 EPS. Analysts expect that Prudential Financial will post ($0.01) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Friday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is 28.78%.
About Prudential Financial
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.
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