Credit Suisse Group AG reiterated their hold rating on shares of Prudential Financial Inc (NYSE:PRU) in a research report report published on Thursday, April 27th. They currently have a $121.00 price target on the financial services provider’s stock.
A number of other equities analysts have also issued reports on PRU. Zacks Investment Research raised Prudential Financial from a hold rating to a buy rating and set a $119.00 price target for the company in a research note on Wednesday, December 28th. Barclays PLC reaffirmed a buy rating and set a $117.00 price target on shares of Prudential Financial in a research note on Monday, January 9th. Citigroup Inc assumed coverage on Prudential Financial in a research report on Thursday, January 26th. They set a neutral rating and a $103.00 price objective for the company. Atlantic Securities downgraded Prudential Financial from an overweight rating to a neutral rating in a research report on Friday, February 10th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reiterated a buy rating and set a $117.00 price objective on shares of Prudential Financial in a research report on Tuesday, March 21st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $108.84.
Shares of Prudential Financial (PRU) traded down 0.14% during midday trading on Thursday, hitting $104.92. The stock had a trading volume of 763,915 shares. The stock has a market cap of $45.01 billion, a PE ratio of 10.65 and a beta of 1.69. The firm has a 50 day moving average price of $106.18 and a 200 day moving average price of $106.14. Prudential Financial has a one year low of $66.51 and a one year high of $114.55.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.15. The firm had revenue of $13.24 billion during the quarter, compared to analyst estimates of $12.75 billion. Prudential Financial had a return on equity of 7.96% and a net margin of 7.63%. During the same period last year, the company posted $2.18 EPS. On average, equities analysts forecast that Prudential Financial will post $10.67 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Tuesday, May 23rd will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, May 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 28.90%.
In other Prudential Financial news, insider Barbara Koster sold 33,743 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $112.87, for a total transaction of $3,808,572.41. Following the completion of the transaction, the insider now owns 45,245 shares in the company, valued at $5,106,803.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charles F. Lowrey sold 222,857 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $108.04, for a total transaction of $24,077,470.28. Following the transaction, the insider now owns 151,418 shares of the company’s stock, valued at approximately $16,359,200.72. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Guardian Life Insurance Co. of America boosted its position in shares of Prudential Financial by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock worth $177,000 after buying an additional 5 shares in the last quarter. Sigma Planning Corp boosted its position in shares of Prudential Financial by 0.3% in the first quarter. Sigma Planning Corp now owns 3,449 shares of the financial services provider’s stock worth $368,000 after buying an additional 10 shares in the last quarter. Koshinski Asset Management Inc. boosted its position in shares of Prudential Financial by 0.4% in the first quarter. Koshinski Asset Management Inc. now owns 5,541 shares of the financial services provider’s stock worth $591,000 after buying an additional 24 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Prudential Financial by 0.4% in the fourth quarter. Wetherby Asset Management Inc. now owns 6,639 shares of the financial services provider’s stock worth $690,000 after buying an additional 26 shares in the last quarter. Finally, Cleararc Capital Inc. boosted its position in shares of Prudential Financial by 0.4% in the first quarter. Cleararc Capital Inc. now owns 10,492 shares of the financial services provider’s stock worth $1,119,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 60.91% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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