Prudential Financial, Inc. (NYSE:PRU) Given Average Recommendation of “Hold” by Analysts

Prudential Financial, Inc. (NYSE:PRU) has received an average rating of “Hold” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $117.1111.

Several brokerages have recently commented on PRU. Wells Fargo & Company increased their price target on shares of Prudential Financial from $113.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Evercore lowered their target price on shares of Prudential Financial from $122.00 to $110.00 and set an “in-line” rating on the stock in a research report on Thursday, February 5th. JPMorgan Chase & Co. reduced their price target on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Piper Sandler increased their price objective on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. Finally, UBS Group boosted their target price on Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential bought 1,406,739 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were purchased at an average price of $24.87 per share, for a total transaction of $34,985,598.93. Following the acquisition, the insider directly owned 7,709,624 shares of the company’s stock, valued at $191,738,348.88. The trade was a 22.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jacques Chappuis purchased 1,000 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were purchased at an average price of $100.97 per share, with a total value of $100,970.00. Following the completion of the acquisition, the executive vice president directly owned 1,000 shares of the company’s stock, valued at approximately $100,970. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 1,408,139 shares of company stock worth $35,128,697 in the last ninety days. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Brighton Jones LLC increased its position in Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 133 shares during the period. Empowered Funds LLC raised its position in shares of Prudential Financial by 30.5% during the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after buying an additional 4,134 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of Prudential Financial by 2.6% in the second quarter. Maryland State Retirement & Pension System now owns 17,237 shares of the financial services provider’s stock valued at $1,852,000 after buying an additional 434 shares during the period. Blair William & Co. IL grew its position in Prudential Financial by 6.7% during the second quarter. Blair William & Co. IL now owns 28,554 shares of the financial services provider’s stock worth $3,068,000 after buying an additional 1,781 shares in the last quarter. Finally, Callan Family Office LLC increased its stake in Prudential Financial by 221.0% during the second quarter. Callan Family Office LLC now owns 13,917 shares of the financial services provider’s stock valued at $1,495,000 after acquiring an additional 9,582 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Up 0.4%

PRU opened at $104.58 on Monday. The company has a market capitalization of $36.60 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial has a fifty-two week low of $90.38 and a fifty-two week high of $119.76. The business has a 50-day moving average of $111.87 and a 200-day moving average of $107.37.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data 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 firm had revenue of $15.69 billion during the quarter, compared to analyst estimates of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same quarter in the prior year, the company posted $2.96 EPS. Equities research analysts forecast that Prudential Financial will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Tuesday, February 17th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $5.60 annualized dividend and a dividend yield of 5.4%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s payout ratio is currently 54.00%.

Prudential Financial Company Profile

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.