Prudential Financial, Inc. (NYSE:PRU) Given Average Rating of “Reduce” by Brokerages

Shares of Prudential Financial, Inc. (NYSE:PRU) have been assigned a consensus rating of “Reduce” from the eleven analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and nine have issued a hold rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $113.8889.

PRU has been the topic of several research reports. Wells Fargo & Company downgraded Prudential Financial from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $115.00 to $103.00 in a report on Wednesday, February 25th. Morgan Stanley lowered their target price on Prudential Financial from $120.00 to $111.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Barclays cut their price target on Prudential Financial from $124.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 11th. Keefe, Bruyette & Woods began coverage on Prudential Financial in a report on Thursday, March 26th. They issued a “hold” rating and a $106.00 price objective for the company. Finally, Mizuho dropped their target price on shares of Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday, February 10th.

Prudential Financial Price Performance

Prudential Financial stock opened at $97.69 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market cap of $33.98 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 1.20 and a beta of 0.95. The firm has a 50-day moving average of $99.95 and a two-hundred day moving average of $105.30. Prudential Financial has a 1 year low of $90.38 and a 1 year high of $119.76.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). The company had revenue of $14.52 billion for the quarter, compared to analysts’ expectations of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same period last year, the business posted $2.96 earnings per share. On average, research analysts forecast that Prudential Financial will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th were paid a dividend of $1.40 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Tuesday, February 17th. Prudential Financial’s payout ratio is 56.00%.

Insider Buying and Selling at Prudential Financial

In related news, Director Joseph J. Wolk bought 400 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were acquired at an average price of $105.32 per share, with a total value of $42,128.00. Following the transaction, the director owned 400 shares of the company’s stock, valued at $42,128. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas D. Stoddard purchased 250 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was bought at an average price of $102.97 per share, for a total transaction of $25,742.50. Following the completion of the acquisition, the director directly owned 250 shares in the company, valued at approximately $25,742.50. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 1,408,389 shares of company stock valued at $35,154,439. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Prudential Financial

A number of institutional investors have recently added to or reduced their stakes in PRU. Brighton Jones LLC boosted its holdings in shares of Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after buying an additional 133 shares in the last quarter. Empowered Funds LLC boosted its stake in Prudential Financial by 30.5% in the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after acquiring an additional 4,134 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Prudential Financial by 7.2% in the second quarter. Quadrant Capital Group LLC now owns 6,803 shares of the financial services provider’s stock worth $731,000 after purchasing an additional 457 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Prudential Financial during the second quarter worth $51,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Prudential Financial by 4.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 38,570 shares of the financial services provider’s stock worth $4,144,000 after purchasing an additional 1,591 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

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.