Prudential Financial Inc. (PRU) Price Target Lowered to $86.00 at FBR & Co
Prudential Financial Inc. (NYSE:PRU) had its target price decreased by FBR & Co from $100.00 to $86.00 in a research note issued to investors on Monday. FBR & Co currently has a mkt perform rating on the stock.
Several other research firms have also recently commented on PRU. Wells Fargo & Co. initiated coverage on Prudential Financial in a research note on Friday, September 23rd. They set a market perform rating for the company. Bank of America Corp. raised Prudential Financial from an underperform rating to a buy rating in a report on Friday, November 18th. Credit Suisse Group AG assumed coverage on Prudential Financial in a report on Friday, October 7th. They set a neutral rating and a $89.00 price target for the company. Goldman Sachs Group Inc. raised Prudential Financial from a neutral rating to a buy rating and lifted their price target for the stock from $80.00 to $93.00 in a report on Friday, September 23rd. Finally, Zacks Investment Research downgraded Prudential Financial from a buy rating to a hold rating in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $90.67.
Shares of Prudential Financial (NYSE:PRU) opened at 99.40 on Monday. The firm has a market capitalization of $42.74 billion, a price-to-earnings ratio of 9.37 and a beta of 1.68. Prudential Financial has a 12-month low of $57.19 and a 12-month high of $101.96. 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 earnings results on Wednesday, November 2nd. The company reported $2.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 business posted $2.40 earnings per share. On average, equities research analysts forecast that Prudential Financial will post $8.99 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 22nd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Friday, November 18th. Prudential Financial’s dividend payout ratio is presently 26.32%.
In other Prudential Financial news, insider Charles F. Lowrey sold 41,644 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $80.00, for a total transaction of $3,331,520.00. Following the transaction, the insider now owns 98,307 shares of the company’s stock, valued at approximately $7,864,560. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Sharon C. Taylor sold 85,490 shares of the stock in a transaction on Monday, October 10th. The stock was sold at an average price of $84.99, for a total value of $7,265,795.10. Following the transaction, the senior vice president now directly owns 77,221 shares in the company, valued at approximately $6,563,012.79. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Americafirst Capital Management LLC acquired a new position in shares of Prudential Financial during the second quarter worth $100,000. Oakworth Capital Inc. raised its position in shares of Prudential Financial by 21.8% in the third quarter. Oakworth Capital Inc. now owns 1,297 shares of the company’s stock valued at $106,000 after buying an additional 232 shares during the period. Bessemer Group Inc. raised its position in shares of Prudential Financial by 6.7% in the second quarter. Bessemer Group Inc. now owns 1,516 shares of the company’s stock valued at $108,000 after buying an additional 95 shares during the period. Gierl Augustine Investment Management Inc raised its position in shares of Prudential Financial by 14.4% in the second quarter. Gierl Augustine Investment Management Inc now owns 1,632 shares of the company’s stock valued at $116,000 after buying an additional 206 shares during the period. Finally, Global X Management Co. LLC raised its position in shares of Prudential Financial by 272.3% in the third quarter. Global X Management Co. LLC now owns 1,489 shares of the company’s stock valued at $122,000 after buying an additional 1,089 shares during the period. 60.46% of the stock is currently owned by institutional investors.
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.
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