Analysts Set Prudential Financial, Inc. (NYSE:PRU) Price Target at $116.80

Prudential Financial, Inc. (NYSE:PRU) has been given a consensus rating of “Reduce” by the twelve analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and eleven have given a hold recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $118.00.

PRU has been the topic of several recent analyst reports. Wolfe Research initiated coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Mizuho assumed coverage on shares of Prudential Financial in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price objective on the stock. Evercore ISI raised their price objective on shares of Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research note on Thursday, October 30th. Morgan Stanley upped their target price on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Finally, Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th.

Prudential Financial Trading Down 0.5%

PRU opened at $113.96 on Friday. The stock has a 50-day moving average of $108.32 and a 200 day moving average of $106.13. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial has a 12 month low of $90.38 and a 12 month high of $123.88. The firm has a market cap of $39.89 billion, a P/E ratio of 15.65, a P/E/G ratio of 0.93 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The business had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%. As a group, research analysts forecast that Prudential Financial will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Tuesday, November 18th. Prudential Financial’s dividend payout ratio is currently 74.18%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction on Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the sale, the chairman directly owned 165,564 shares of the company’s stock, valued at $17,779,917.96. The trade was a 22.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Caroline Feeney sold 6,555 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $116.28, for a total value of $762,215.40. Following the completion of the sale, the executive vice president owned 22,523 shares of the company’s stock, valued at $2,618,974.44. This represents a 22.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 62,719 shares of company stock valued at $6,796,067. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of Prudential Financial

Several institutional investors and hedge funds have recently made changes to their positions in PRU. CIBC Private Wealth Group LLC increased its position in Prudential Financial by 0.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock valued at $2,987,000 after purchasing an additional 97 shares during the period. Proffitt & Goodson Inc. increased its holdings in Prudential Financial by 12.7% during the second quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock valued at $94,000 after buying an additional 98 shares during the period. Summit Global Investments raised its stake in Prudential Financial by 1.3% in the second quarter. Summit Global Investments now owns 7,609 shares of the financial services provider’s stock worth $817,000 after buying an additional 100 shares in the last quarter. Mindset Wealth Management LLC boosted its position in Prudential Financial by 2.1% during the 3rd quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock valued at $496,000 after acquiring an additional 100 shares in the last quarter. Finally, Thrive Wealth Management LLC increased its holdings in shares of Prudential Financial by 2.6% in the 2nd quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock valued at $430,000 after acquiring an additional 101 shares during the period. 56.83% of the stock is currently owned by institutional investors.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.