Prudential Financial (PRU) Upgraded to Strong-Buy by ValuEngine
ValuEngine upgraded shares of Prudential Financial (NYSE:PRU) from a buy rating to a strong-buy rating in a research note published on Tuesday.
Other equities analysts have also issued reports about the company. B. Riley restated a buy rating on shares of Prudential Financial in a report on Monday, November 6th. Keefe, Bruyette & Woods reiterated a buy rating on shares of Prudential Financial in a research note on Friday, August 11th. BidaskClub lowered Prudential Financial from a buy rating to a hold rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded Prudential Financial from a hold rating to a buy rating and set a $122.00 price objective on the stock in a research note on Tuesday, October 10th. Finally, FBR & Co upgraded Prudential Financial from a neutral rating to a buy rating and dropped their price objective for the stock from $117.00 to $100.00 in a research note on Tuesday, October 10th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $115.64.
Shares of Prudential Financial (NYSE:PRU) opened at $117.15 on Tuesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34. Prudential Financial has a 1-year low of $97.88 and a 1-year high of $117.99. The stock has a market capitalization of $49,323.92, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.31 and a beta of 1.55.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, November 27th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Friday, November 24th. Prudential Financial’s dividend payout ratio (DPR) is presently 30.18%.
In other Prudential Financial news, EVP Timothy P. Harris sold 10,527 shares of Prudential Financial stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total transaction of $1,210,605.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas C. Silitch sold 44,860 shares of Prudential Financial stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $111.77, for a total value of $5,014,002.20. Following the sale, the insider now directly owns 27,927 shares in the company, valued at $3,121,400.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,017 shares of company stock worth $11,219,151. 0.66% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fieldpoint Private Securities LLC acquired a new position in shares of Prudential Financial in the 2nd quarter worth approximately $103,000. Grove Bank & Trust raised its position in Prudential Financial by 507.0% in the 3rd quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 943 shares during the last quarter. Hudock Capital Group LLC raised its position in Prudential Financial by 0.7% in the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 8 shares during the last quarter. Legacy Advisors LLC bought a new position in Prudential Financial in the 3rd quarter worth approximately $129,000. Finally, Zions Bancorporation raised its position in Prudential Financial by 44.9% in the 3rd quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 524 shares during the last quarter. 64.65% of the stock is currently owned by institutional investors.
About Prudential Financial
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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