Prudential Financial (NYSE:PRU) Downgraded to Market Perform at Raymond James

Raymond James downgraded shares of Prudential Financial (NYSE:PRUFree Report) from a strong-buy rating to a market perform rating in a research report report published on Friday, MarketBeat reports.

PRU has been the topic of several other reports. JPMorgan Chase & Co. reissued a neutral rating and issued a $118.00 price objective (down from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. Morgan Stanley raised their price target on shares of Prudential Financial from $105.00 to $109.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. UBS Group raised their price target on shares of Prudential Financial from $97.00 to $108.00 and gave the stock a neutral rating in a research report on Wednesday, January 10th. Finally, TheStreet raised shares of Prudential Financial from a c+ rating to an a- rating in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the company. According to MarketBeat, Prudential Financial currently has an average rating of Hold and an average target price of $105.60.

View Our Latest Stock Analysis on PRU

Prudential Financial Stock Performance

Shares of PRU stock opened at $107.23 on Friday. The stock has a market cap of $38.71 billion, a P/E ratio of 16.03, a P/E/G ratio of 0.67 and a beta of 1.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.07. The company has a fifty day moving average price of $103.67 and a two-hundred day moving average price of $97.62. Prudential Financial has a one year low of $75.37 and a one year high of $109.63.

Prudential Financial (NYSE:PRUGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). The firm had revenue of $13.02 billion during the quarter, compared to analyst estimates of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.42 EPS. As a group, equities analysts predict that Prudential Financial will post 13.47 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Tuesday, February 20th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, February 16th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.85%. Prudential Financial’s dividend payout ratio (DPR) is currently 74.74%.

Insiders Place Their Bets

In other news, CFO Kenneth Tanji sold 23,124 shares of Prudential Financial stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $105.14, for a total value of $2,431,257.36. Following the completion of the sale, the chief financial officer now owns 47,155 shares in the company, valued at approximately $4,957,876.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Prudential Financial news, CFO Kenneth Tanji sold 23,124 shares of Prudential Financial stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $105.14, for a total transaction of $2,431,257.36. Following the transaction, the chief financial officer now directly owns 47,155 shares of the company’s stock, valued at approximately $4,957,876.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy L. Schmidt sold 8,281 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $94.49, for a total transaction of $782,471.69. Following the completion of the transaction, the senior vice president now directly owns 14,621 shares in the company, valued at $1,381,538.29. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRU. State Street Corp boosted its stake in Prudential Financial by 0.3% in the second quarter. State Street Corp now owns 16,603,253 shares of the financial services provider’s stock worth $1,464,739,000 after buying an additional 46,547 shares in the last quarter. Geode Capital Management LLC boosted its stake in Prudential Financial by 1.4% in the second quarter. Geode Capital Management LLC now owns 7,721,677 shares of the financial services provider’s stock worth $679,412,000 after buying an additional 107,893 shares in the last quarter. Morgan Stanley boosted its stake in Prudential Financial by 6.7% in the fourth quarter. Morgan Stanley now owns 6,589,363 shares of the financial services provider’s stock worth $655,378,000 after buying an additional 413,421 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Prudential Financial by 6.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,353,887 shares of the financial services provider’s stock worth $750,839,000 after buying an additional 356,957 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Prudential Financial by 4.8% in the third quarter. Northern Trust Corp now owns 4,353,086 shares of the financial services provider’s stock worth $413,064,000 after buying an additional 197,422 shares in the last quarter. 54.92% of the stock is currently owned by institutional investors.

Prudential Financial Company Profile

(Get Free Report)

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, and International Businesses segments.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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