Prudential Financial (PRU) Given Buy Rating at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reissued their buy rating on shares of Prudential Financial (NYSE:PRU) in a report released on Wednesday. Keefe, Bruyette & Woods currently has a $113.00 price objective on the financial services provider’s stock.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised Prudential Financial from a hold rating to a buy rating and set a $117.00 price target on the stock in a research report on Monday, October 8th. Wells Fargo & Co began coverage on Prudential Financial in a research report on Tuesday. They issued an outperform rating and a $105.00 price target on the stock. Morgan Stanley dropped their price target on Prudential Financial from $122.00 to $120.00 and set an equal weight rating on the stock in a research report on Thursday, November 8th. UBS Group lifted their price target on Prudential Financial from $125.00 to $126.00 and gave the stock a buy rating in a research report on Monday, October 8th. Finally, ValuEngine downgraded Prudential Financial from a sell rating to a strong sell rating in a research report on Friday, November 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $114.19.
Shares of PRU stock opened at $87.74 on Wednesday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.37. Prudential Financial has a twelve month low of $75.61 and a twelve month high of $127.14. The company has a market capitalization of $35.88 billion, a P/E ratio of 8.29, a P/E/G ratio of 0.75 and a beta of 1.40.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 13th. Shareholders of record on Monday, November 26th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Friday, November 23rd. Prudential Financial’s dividend payout ratio is currently 34.03%.
In other news, major shareholder Prudential Financial Inc acquired 880,000 shares of the stock in a transaction dated Tuesday, October 16th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $22,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders acquired 880,315 shares of company stock worth $22,026,194. Company insiders own 0.61% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new stake in shares of Prudential Financial during the second quarter valued at approximately $104,000. BerganKDV Wealth Management LLC increased its position in shares of Prudential Financial by 165.8% during the third quarter. BerganKDV Wealth Management LLC now owns 1,284 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 801 shares during the period. Centaurus Financial Inc. bought a new stake in shares of Prudential Financial during the second quarter valued at approximately $157,000. Rehmann Capital Advisory Group increased its position in shares of Prudential Financial by 31.4% during the third quarter. Rehmann Capital Advisory Group now owns 1,576 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 377 shares during the period. Finally, Vantage Investment Advisors LLC increased its position in shares of Prudential Financial by 35.1% during the third quarter. Vantage Investment Advisors LLC now owns 2,048 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 532 shares during the period. Institutional investors and hedge funds own 63.40% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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