Royal Bank Of Canada Reaffirms Hold Rating for Prudential Financial, Inc. (PRU)
Royal Bank Of Canada reiterated their hold rating on shares of Prudential Financial, Inc. (NYSE:PRU) in a report issued on Wednesday morning. Royal Bank Of Canada currently has a $117.00 price objective on the financial services provider’s stock.
A number of other brokerages have also recently weighed in on PRU. Wells Fargo & Company restated a hold rating on shares of Prudential Financial in a research note on Thursday, August 3rd. BidaskClub upgraded shares of Prudential Financial from a hold rating to a buy rating in a research note on Wednesday, July 12th. ValuEngine upgraded shares of Prudential Financial from a buy rating to a strong-buy rating in a research note on Friday, June 2nd. Zacks Investment Research cut shares of Prudential Financial from a buy rating to a hold rating in a research note on Wednesday, June 14th. Finally, Keefe, Bruyette & Woods restated a buy rating on shares of Prudential Financial in a research note on Friday, August 11th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Prudential Financial presently has an average rating of Buy and a consensus target price of $111.49.
Shares of Prudential Financial (NYSE PRU) traded up 0.26% during trading on Wednesday, hitting $98.91. 1,839,760 shares of the stock were exchanged. The stock has a market cap of $42.23 billion, a P/E ratio of 11.04 and a beta of 1.49. Prudential Financial has a 12-month low of $77.68 and a 12-month high of $115.26. The stock has a 50-day moving average of $106.50 and a 200 day moving average of $107.39.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by $0.61. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. The firm had revenue of $13.03 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period last year, the firm posted $1.84 EPS. Equities analysts predict that Prudential Financial will post $10.14 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.03%. The ex-dividend date is Friday, August 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 33.63%.
In other Prudential Financial news, insider Nicholas C. Silitch sold 14,897 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total value of $1,638,670.00. Following the sale, the insider now directly owns 21,274 shares in the company, valued at $2,340,140. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the completion of the sale, the chairman now owns 456,121 shares in the company, valued at $50,173,310. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,615 shares of company stock worth $24,276,660. 0.66% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PRU. Fieldpoint Private Securities LLC acquired a new stake in Prudential Financial during the 2nd quarter worth about $103,000. Hudock Capital Group LLC raised its holdings in Prudential Financial by 0.7% during the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after buying an additional 8 shares during the period. First Personal Financial Services raised its holdings in Prudential Financial by 3.4% during the 1st quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock worth $150,000 after buying an additional 46 shares during the period. Guardian Life Insurance Co. of America raised its holdings in Prudential Financial by 0.3% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock worth $177,000 after buying an additional 5 shares during the period. Finally, Accurate Investment Solutions Inc. raised its holdings in Prudential Financial by 2.3% during the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock worth $180,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 64.46% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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