Prudential Financial Inc. (PRU) Price Target Lowered to $86.00 at FBR & Co
Prudential Financial Inc. (NYSE:PRU) had its price objective cut by FBR & Co from $100.00 to $86.00 in a note issued to investors on Monday. The brokerage presently has a “mkt perform” rating on the stock. FBR & Co’s target price points to a potential downside of 15.46% from the stock’s previous close.
Other analysts have also issued reports about the company. Zacks Investment Research lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, November 28th. Bank of America Corp. lowered Prudential Financial from a “buy” rating to an “underperform” rating and set a $108.00 price target on the stock. in a research note on Friday, November 18th. Goldman Sachs Group Inc. raised 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 research note on Friday, September 23rd. Credit Suisse Group AG initiated coverage on Prudential Financial in a research note on Friday, October 7th. They set a “neutral” rating and a $89.00 price target on the stock. Finally, Wells Fargo & Co. initiated coverage on Prudential Financial in a research note on Friday, September 23rd. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven 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 stock presently has a consensus rating of “Buy” and a consensus target price of $91.60.
Prudential Financial (NYSE:PRU) traded down 0.72% on Monday, reaching $101.73. 1,954,567 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $91.89 and its 200 day moving average is $80.61. Prudential Financial has a 52 week low of $57.19 and a 52 week high of $103.50. The company has a market cap of $43.74 billion, a price-to-earnings ratio of 9.59 and a beta of 1.73.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, November 2nd. The company reported $2.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.49 by $0.17. Prudential Financial had a return on equity of 7.73% and a net margin of 8.45%. During the same period in the previous year, the firm earned $2.40 EPS. On average, equities analysts anticipate that Prudential Financial will post $9.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 22nd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 18th. This represents a $2.80 annualized dividend and a dividend yield of 2.75%. Prudential Financial’s dividend payout ratio is 26.32%.
In other news, SVP Sharon C. Taylor sold 85,490 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $84.99, for a total transaction of $7,265,795.10. Following the completion of the sale, the senior vice president now owns 77,221 shares in the company, valued at $6,563,012.79. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Charles F. Lowrey sold 41,644 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $80.00, for a total value of $3,331,520.00. Following the sale, the insider now owns 98,307 shares of the company’s stock, valued at approximately $7,864,560. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
A number of large investors have recently made changes to their positions in PRU. Cohen & Steers Inc. bought a new stake in shares of Prudential Financial during the second quarter valued at about $718,824,000. Capital Research Global Investors bought a new stake in shares of Prudential Financial during the third quarter valued at about $425,473,000. The Manufacturers Life Insurance Company bought a new stake in shares of Prudential Financial during the third quarter valued at about $101,648,000. Hexavest Inc. bought a new stake in shares of Prudential Financial during the second quarter valued at about $54,008,000. Finally, APG Asset Management N.V. increased its stake in shares of Prudential Financial by 51.2% in the third quarter. APG Asset Management N.V. now owns 2,071,032 shares of the company’s stock valued at $169,100,000 after buying an additional 701,526 shares during the period. 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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