Prudential Financial Inc. (PRU) Downgraded to Market Perform at FBR & Co
FBR & Co cut shares of Prudential Financial Inc. (NYSE:PRU) from an outperform rating to a market perform rating in a report issued on Tuesday. They currently have $86.00 target price on the stock. The analysts noted that the move was a valuation call.
Several other analysts have also weighed in on PRU. Zacks Investment Research lowered Prudential Financial from a hold rating to a sell rating in a report on Tuesday, June 21st. Bank of America Corp. lowered Prudential Financial from a neutral rating to an underperform rating in a research note on Wednesday, June 29th. Evercore ISI assumed coverage on Prudential Financial in a research note on Wednesday, July 6th. They issued a hold rating and a $78.00 target price on the stock. Citigroup Inc. reduced their target price on Prudential Financial from $83.00 to $80.00 and set a buy rating on the stock in a research note on Thursday, July 7th. Finally, Deutsche Bank AG reduced their target price on Prudential Financial from $90.00 to $83.00 and set a buy rating on the stock in a research note on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $89.13.
Prudential Financial (NYSE:PRU) opened at 84.805 on Tuesday. The stock has a 50 day moving average price of $81.25 and a 200 day moving average price of $76.81. Prudential Financial has a 52-week low of $57.19 and a 52-week high of $88.77. The stock has a market cap of $37.06 billion, a price-to-earnings ratio of 8.713 and a beta of 1.68.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share for the quarter, missing the Thomson Reuters’ 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 period in the previous year, the business posted $2.91 EPS. Analysts expect that Prudential Financial will post ($0.01) EPS for the current fiscal year.
In other news, insider Charles F. Lowrey sold 41,644 shares of Prudential Financial stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $80.00, for a total value of $3,331,520.00. Following the sale, the insider now directly owns 98,307 shares of the company’s stock, valued at $7,864,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy P. Harris sold 6,531 shares of Prudential Financial stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $85.00, for a total value of $555,135.00. Following the completion of the sale, the executive vice president now directly owns 20,924 shares in the company, valued at $1,778,540. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Americafirst Capital Management LLC bought a new position in Prudential Financial during the second quarter worth $100,000. Bessemer Group Inc. raised its position in 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 period. Gierl Augustine Investment Management Inc raised its position in 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 period. Cantab Capital Partners LLP bought a new position in Prudential Financial during the second quarter worth $132,000. Finally, Seven Eight Capital LLC raised its position in Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock worth $155,000 after buying an additional 1,900 shares during the period. 60.58% 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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