Prudential Financial Inc. (NYSE:PRU) had its price objective cut by stock analysts at FBR & Co from $100.00 to $86.00 in a report issued on Monday. The firm currently has a “mkt perform” rating on the stock. FBR & Co’s price target would suggest a potential downside of 13.80% from the company’s previous close.

PRU has been the subject of a number of other reports. Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $93.00 in a report on Friday, September 23rd. 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 began coverage on Prudential Financial in a research note on Friday, October 7th. They set a “neutral” rating and a $89.00 price target for the company. Finally, Wells Fargo & Co. began coverage on Prudential Financial in a research note on Friday, September 23rd. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Prudential Financial has an average rating of “Buy” and an average price target of $91.60.

Analyst Recommendations for Prudential Financial (NYSE:PRU)

Shares of Prudential Financial (NYSE:PRU) traded up 1.02% during midday trading on Monday, hitting $100.79. The stock had a trading volume of 1,595,994 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 one year low of $57.19 and a one year high of $101.96. The company has a market cap of $43.34 billion, a P/E ratio of 9.50 and a beta of 1.68.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $2.66 earnings per share (EPS) 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 period last year, the business posted $2.40 earnings per share. Analysts forecast that Prudential Financial will post $8.99 EPS for the current fiscal year.

The company 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 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 2.81%. Prudential Financial’s dividend payout ratio is 26.32%.

WARNING: This piece was originally published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. and international copyright laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2016/11/30/fbr-co-lowers-prudential-financial-inc-pru-price-target-to-86-00.html.

In related news, insider Charles F. Lowrey sold 50,322 shares of the stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $85.00, for a total transaction of $4,277,370.00. Following the completion of the sale, the insider now directly owns 92,458 shares in the company, valued at $7,858,930. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Timothy P. Harris sold 6,531 shares of the stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $85.00, for a total value of $555,135.00. Following the sale, the executive vice president now owns 20,924 shares of the company’s stock, valued at $1,778,540. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Americafirst Capital Management LLC purchased a new stake in shares of Prudential Financial during the second quarter valued at about $100,000. Oakworth Capital Inc. raised its stake 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 in the last quarter. Bessemer Group Inc. raised its stake 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 in the last quarter. Gierl Augustine Investment Management Inc raised its stake 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 in the last quarter. Finally, Global X Management Co. LLC raised its stake 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 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.

5 Day Chart for NYSE:PRU

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.