Prudential Financial Inc. (PRU) Coverage Initiated at Credit Suisse Group AG
Stock analysts at Credit Suisse Group AG began coverage on shares of Prudential Financial Inc. (NYSE:PRU) in a report released on Friday. The brokerage set a “neutral” rating on the stock.
Other research analysts also recently issued research reports about the stock. Wells Fargo & Co. assumed coverage on shares of Prudential Financial in a report on Friday, September 23rd. They issued a “market perform” rating for the company. Zacks Investment Research downgraded shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Goldman Sachs Group Inc. raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and increased their price target for the company from $80.00 to $93.00 in a report on Friday, September 23rd. Bank of America Corp. downgraded shares of Prudential Financial from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 29th. Finally, Deutsche Bank AG lowered their price target on shares of Prudential Financial from $90.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $89.33.
Prudential Financial (NYSE:PRU) opened at 85.01 on Friday. The stock has a market cap of $37.15 billion, a P/E ratio of 8.73 and a beta of 1.68. Prudential Financial has a one year low of $57.19 and a one year high of $88.77. The company’s 50-day moving average price is $79.54 and its 200-day moving average price is $76.11.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $1.84 EPS for the quarter, missing the consensus estimate of $2.51 by $0.67. Prudential Financial had a net margin of 8.90% and a return on equity of 8.11%. During the same quarter in the prior year, the company posted $2.91 EPS. Analysts forecast that Prudential Financial will post ($0.01) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Friday, August 19th. Prudential Financial’s payout ratio is 28.78%.
In related news, insider Stephen Pelletier sold 4,470 shares of Prudential Financial stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $76.36, for a total transaction of $341,329.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Falzon sold 33,820 shares of Prudential Financial 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 disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
A number of 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 valued at about $100,000. Bessemer Group Inc. raised 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 valued at $108,000 after buying an additional 95 shares during the last quarter. Gierl Augustine Investment Management Inc increased its stake 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 valued at $116,000 after buying an additional 206 shares during the period. Cantab Capital Partners LLP purchased a new stake in shares of Prudential Financial during the second quarter valued at $132,000. Finally, Seven Eight Capital LLC increased its stake in shares of Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock valued at $155,000 after buying an additional 1,900 shares during the period. 60.62% of the stock is currently owned by institutional investors.
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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