Prudential Financial Inc. (PRU) Given New $86.00 Price Target at FBR & Co
Prudential Financial Inc. (NYSE:PRU) had its price target cut by equities research analysts at FBR & Co from $100.00 to $86.00 in a note issued to investors on Monday. The brokerage currently has a “mkt perform” rating on the stock. FBR & Co’s price objective would suggest a potential downside of 14.51% from the stock’s current price.
Other analysts have also issued research reports about the company. Bank of America Corp. raised Prudential Financial from an “underperform” rating to a “buy” rating in a research report on Friday, November 18th. Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $93.00 in a research report on Friday, September 23rd. Wells Fargo & Co. began coverage on Prudential Financial in a research report on Friday, September 23rd. They set a “market perform” rating on the stock. Finally, Credit Suisse Group AG began coverage on shares of Prudential Financial in a research note on Friday, October 7th. They set a “neutral” rating and a $89.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $91.60.
Shares of Prudential Financial (NYSE:PRU) traded up 1.79% during midday trading on Monday, reaching $102.40. The company’s stock had a trading volume of 2,491,294 shares. Prudential Financial has a one year low of $57.19 and a one year high of $103.50. The stock’s 50 day moving average price is $89.97 and its 200 day moving average price is $79.94. The firm has a market cap of $44.03 billion, a price-to-earnings ratio of 9.65 and a beta of 1.68.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $2.66 earnings per share for the quarter, topping 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 last year, the company earned $2.40 EPS. Analysts predict that Prudential Financial will post $8.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors 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 yield of 2.78%. Prudential Financial’s dividend payout ratio is currently 26.32%.
ILLEGAL ACTIVITY NOTICE: This news story was first published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of United States & international copyright law. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2016/11/29/prudential-financial-inc-pru-price-target-cut-to-86-00-by-analysts-at-fbr-co.html.
In related news, insider Charles F. Lowrey sold 41,644 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $80.00, for a total transaction of $3,331,520.00. Following the completion of the transaction, the insider now directly owns 98,307 shares of the company’s stock, valued at $7,864,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott Sleyster sold 9,379 shares of the stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $85.06, for a total transaction of $797,777.74. Following the transaction, the insider now directly owns 34,185 shares of the company’s stock, valued at $2,907,776.10. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PRU. First Heartland Consultants Inc. purchased a new position in Prudential Financial during the third quarter valued at about $202,000. D.A. Davidson & CO. boosted its position in shares of Prudential Financial by 43.4% in the third quarter. D.A. Davidson & CO. now owns 21,221 shares of the company’s stock worth $1,732,000 after buying an additional 6,422 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of Prudential Financial during the third quarter worth about $13,858,000. Price T Rowe Associates Inc. MD boosted its position in shares of Prudential Financial by 2.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 833,980 shares of the company’s stock worth $68,094,000 after buying an additional 21,010 shares during the period. Finally, Quantitative Systematic Strategies LLC boosted its position in shares of Prudential Financial by 9.3% in the third quarter. Quantitative Systematic Strategies LLC now owns 12,677 shares of the company’s stock worth $1,016,000 after buying an additional 1,076 shares during the period. 60.46% of the stock is owned by hedge funds and other 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.
Receive News & Stock Ratings for Prudential Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial Inc. and related stocks with our FREE daily email newsletter.