Prudential Financial’s (PRU) “Market Perform” Rating Reiterated at FBR & Co
Prudential Financial Inc. (NYSE:PRU)‘s stock had its “market perform” rating reiterated by stock analysts at FBR & Co in a research note issued on Tuesday. They currently have a $100.00 price objective on the stock, up from their prior price objective of $86.00. FBR & Co’s price objective points to a potential upside of 0.23% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. Wells Fargo & Co. began coverage on Prudential Financial in a report on Friday, September 23rd. They issued a “market perform” rating for the company. Zacks Investment Research cut Prudential Financial from a “buy” rating to a “hold” rating in a report on Monday. Bank of America Corp. cut Prudential Financial from a “buy” rating to an “underperform” rating and set a $108.00 target price for the company. in a report on Friday, November 18th. Credit Suisse Group AG began coverage on Prudential Financial in a report on Friday, October 7th. They issued a “neutral” rating and a $89.00 target price for the company. Finally, Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $80.00 to $93.00 in a report on Friday, September 23rd. 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 assigned a strong buy rating to the stock. Prudential Financial presently has an average rating of “Buy” and a consensus target price of $91.60.
Prudential Financial (NYSE:PRU) traded up 0.37% during mid-day trading on Tuesday, hitting $99.77. The stock had a trading volume of 3,037,816 shares. The stock has a 50 day moving average of $89.97 and a 200-day moving average of $79.94. Prudential Financial has a 1-year low of $57.19 and a 1-year high of $101.96. The firm has a market cap of $42.90 billion, a P/E ratio of 9.41 and a beta of 1.68.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, November 2nd. The company reported $2.66 earnings per share (EPS) for the quarter, topping 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 8.92%. During the same period in the previous year, the firm posted $2.40 earnings per share. Analysts predict that Prudential Financial will post $8.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 22nd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.81%. The ex-dividend date is Friday, November 18th. Prudential Financial’s payout ratio is presently 26.32%.
In related news, EVP Timothy P. Harris sold 6,531 shares of the firm’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $85.00, for a total transaction of $555,135.00. Following the sale, the executive vice president now owns 20,924 shares of the company’s stock, valued at approximately $1,778,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles F. Lowrey sold 41,644 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $80.00, for a total value of $3,331,520.00. Following the sale, the insider now directly owns 98,307 shares in the company, valued at approximately $7,864,560. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Americafirst Capital Management LLC acquired a new stake in shares of Prudential Financial during the second quarter valued at approximately $100,000. Oakworth Capital Inc. increased its stake in 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 in the last quarter. Bessemer Group Inc. increased its stake in 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 in the last quarter. Gierl Augustine Investment Management Inc increased its stake in 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 in the last quarter. Finally, Global X Management Co. LLC increased its stake in 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 in the last quarter. 60.46% of the stock is currently owned by institutional investors and hedge funds.
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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