Prudential Financial (NYSE:PRU) Earns Market Perform Rating from Analysts at Keefe, Bruyette & Woods

Investment analysts at Keefe, Bruyette & Woods began coverage on shares of Prudential Financial (NYSE:PRU) in a research report issued to clients and investors on Thursday,Benzinga reports. The firm set a “market perform” rating and a $106.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 12.04% from the stock’s previous close.

Several other brokerages have also recently weighed in on PRU. Weiss Ratings cut shares of Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Barclays lowered their price target on shares of Prudential Financial from $124.00 to $119.00 and set an “equal weight” rating for the company in a report on Wednesday, March 11th. Mizuho dropped their target price on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating for the company in a report on Tuesday, February 10th. Evercore restated a “negative” rating on shares of Prudential Financial in a research report on Friday, March 6th. Finally, Wall Street Zen downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Nine analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Prudential Financial has a consensus rating of “Reduce” and an average price target of $113.89.

Prudential Financial Price Performance

Shares of PRU traded down $0.65 during midday trading on Thursday, hitting $94.61. 847,999 shares of the company traded hands, compared to its average volume of 2,353,078. The stock has a market cap of $32.92 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 1.17 and a beta of 0.98. The firm has a 50 day moving average of $101.95 and a 200-day moving average of $105.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial has a 52 week low of $90.38 and a 52 week high of $119.76.

Prudential Financial (NYSE:PRU) last posted 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 firm had revenue of $14.52 billion during 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 quarter in the prior year, the firm posted $2.96 earnings per share. On average, analysts forecast that Prudential Financial will post 14.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential bought 1,406,739 shares of Prudential Financial stock in a transaction dated Friday, January 23rd. The shares were acquired at an average cost of $24.87 per share, with a total value of $34,985,598.93. Following the completion of the transaction, the insider owned 7,709,624 shares in the company, valued at $191,738,348.88. The trade was a 22.32% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas D. Stoddard acquired 250 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average cost of $102.97 per share, for a total transaction of $25,742.50. Following the purchase, the director owned 250 shares of the company’s stock, valued at $25,742.50. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 1,408,389 shares of company stock valued at $35,154,439 in the last three months. 0.25% of the stock is owned by company insiders.

Institutional Trading of Prudential Financial

A number of hedge funds have recently added to or reduced their stakes in the business. Jessup Wealth Management Inc purchased a new position in Prudential Financial during the 4th quarter valued at about $25,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Prudential Financial during the fourth quarter valued at approximately $26,000. Salomon & Ludwin LLC increased its holdings in Prudential Financial by 98.3% during the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after buying an additional 114 shares during the period. Lodestone Wealth Management LLC bought a new position in Prudential Financial in the fourth quarter worth approximately $28,000. Finally, Coston McIsaac & Partners boosted its position in Prudential Financial by 93.4% during the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 128 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

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.