Prudential Financial Inc. (PRU) PT Lowered to $86.00
Prudential Financial Inc. (NYSE:PRU) had its target price dropped by FBR & Co from $100.00 to $86.00 in a research note issued on Monday. The brokerage currently has a “mkt perform” rating on the stock. FBR & Co’s price target would suggest a potential downside of 14.03% from the company’s current price.
Several other analysts have also commented on PRU. Zacks Investment Research lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday. Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and boosted their price target for the company from $80.00 to $93.00 in a research note on Friday, September 23rd. Bank of America Corp. raised Prudential Financial from an “underperform” rating to a “buy” rating in a research note on Friday, November 18th. Credit Suisse Group AG assumed coverage on Prudential Financial in a research note on Friday, October 7th. They issued a “neutral” rating and a $89.00 price target on the stock. Finally, Wells Fargo & Co. assumed coverage on Prudential Financial in a research note on Friday, September 23rd. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $91.60.
Prudential Financial (NYSE:PRU) opened at 99.40 on Monday. Prudential Financial has a 12-month low of $57.19 and a 12-month high of $101.96. The firm has a market capitalization of $42.74 billion, a price-to-earnings ratio of 9.37 and a beta of 1.68. The company’s 50-day moving average price is $89.97 and its 200-day moving average price is $79.94.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.17. Prudential Financial had a return on equity of 7.73% and a net margin of 8.92%. During the same quarter in the previous year, the firm earned $2.40 EPS. Equities analysts expect that Prudential Financial will post $8.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 22nd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 18th. This represents a $2.80 dividend on an annualized basis and a yield of 2.80%. Prudential Financial’s dividend payout ratio is presently 26.32%.
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In related news, insider Scott Sleyster sold 9,379 shares of the company’s stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $85.06, for a total value of $797,777.74. Following the completion of the sale, the insider now owns 34,185 shares in the company, valued at $2,907,776.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sharon C. Taylor sold 85,490 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $84.99, for a total value of $7,265,795.10. Following the completion of the sale, the senior vice president now owns 77,221 shares of the company’s stock, valued at approximately $6,563,012.79. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in PRU. Murphy Capital Management Inc. increased its stake in Prudential Financial by 0.3% in the second quarter. Murphy Capital Management Inc. now owns 3,138 shares of the company’s stock worth $223,000 after buying an additional 8 shares in the last quarter. Hudock Capital Group LLC increased its stake in Prudential Financial by 0.4% in the second quarter. Hudock Capital Group LLC now owns 2,682 shares of the company’s stock worth $191,000 after buying an additional 10 shares in the last quarter. Concert Wealth Management Inc. increased its stake in Prudential Financial by 0.3% in the second quarter. Concert Wealth Management Inc. now owns 12,450 shares of the company’s stock worth $879,000 after buying an additional 42 shares in the last quarter. Tradewinds Capital Management LLC increased its stake in Prudential Financial by 2.8% in the third quarter. Tradewinds Capital Management LLC now owns 1,601 shares of the company’s stock worth $131,000 after buying an additional 43 shares in the last quarter. Finally, Arrow Financial Corp increased its stake in Prudential Financial by 1.4% in the second quarter. Arrow Financial Corp now owns 4,935 shares of the company’s stock worth $352,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 60.46% of the company’s stock.
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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