Prudential Financial Inc. (NYSE:PRU) was downgraded by research analysts at Bank of America Corp. from a “buy” rating to an “underperform” rating in a report released on Friday. They currently have a $108.00 price objective on the stock. Bank of America Corp.’s price target would suggest a potential upside of 7.39% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Co. assumed coverage on shares of Prudential Financial in a report on Friday, September 23rd. They set a “market perform” rating for the company. FBR & Co downgraded shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $86.00 price target for the company. in a report on Tuesday, October 18th. They noted that the move was a valuation call. Credit Suisse Group AG assumed coverage on shares of Prudential Financial in a report on Friday, October 7th. They set a “neutral” rating and a $89.00 price target for the company. Finally, Goldman Sachs Group Inc. raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $80.00 to $93.00 in a report on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $90.67.

Analyst Recommendations for Prudential Financial (NYSE:PRU)

Prudential Financial (NYSE:PRU) opened at 100.57 on Friday. The stock has a market capitalization of $43.25 billion, a PE ratio of 9.48 and a beta of 1.68. Prudential Financial has a 52-week low of $57.19 and a 52-week high of $100.64. The firm has a 50-day moving average of $87.95 and a 200-day moving average of $79.23.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, November 2nd. The company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.17. Prudential Financial had a net margin of 8.92% and a return on equity of 7.73%. During the same quarter last year, the company posted $2.40 EPS. On average, equities analysts expect that Prudential Financial will post $8.99 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 22nd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 26.32%.

In other news, EVP Timothy P. Harris sold 6,531 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $85.00, for a total value of $555,135.00. Following the completion of the transaction, the executive vice president now owns 20,924 shares in the company, valued at $1,778,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott Sleyster sold 9,379 shares of the company’s stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $85.06, for a total transaction of $797,777.74. Following the completion of the transaction, the insider now owns 34,185 shares of the company’s stock, valued at approximately $2,907,776.10. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DNB Asset Management AS boosted its position in Prudential Financial by 3.0% in the second quarter. DNB Asset Management AS now owns 40,550 shares of the company’s stock valued at $2,893,000 after buying an additional 1,200 shares during the period. British Columbia Investment Management Corp boosted its position in Prudential Financial by 22.7% in the second quarter. British Columbia Investment Management Corp now owns 276,129 shares of the company’s stock valued at $19,699,000 after buying an additional 51,140 shares during the period. Washington Trust Bank boosted its position in Prudential Financial by 5.7% in the second quarter. Washington Trust Bank now owns 33,062 shares of the company’s stock valued at $2,359,000 after buying an additional 1,776 shares during the period. Raymond James Trust N.A. boosted its position in Prudential Financial by 2.9% in the second quarter. Raymond James Trust N.A. now owns 13,382 shares of the company’s stock valued at $955,000 after buying an additional 375 shares during the period. Finally, Osborn Rohs Williams & Donohoe Ltd boosted its position in Prudential Financial by 10.3% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 19,737 shares of the company’s stock valued at $1,408,000 after buying an additional 1,846 shares during the period. Institutional investors own 60.56% of the company’s stock.

Prudential Financial Company Profile

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.

5 Day Chart for NYSE:PRU

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