ValuEngine upgraded shares of Prudential Financial Inc (NYSE:PRU) from a buy rating to a strong-buy rating in a research note published on Friday morning.
Several other research analysts also recently weighed in on the company. Vetr raised Prudential Financial from a hold rating to a buy rating and set a $109.90 target price for the company in a research note on Wednesday, March 22nd. Zacks Investment Research raised Prudential Financial from a hold rating to a buy rating and set a $117.00 target price for the company in a research note on Tuesday, April 18th. Deutsche Bank AG upped their target price on Prudential Financial from $114.00 to $117.00 and gave the stock a buy rating in a research note on Wednesday, April 19th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $117.00 target price on shares of Prudential Financial in a research note on Tuesday, March 21st. Finally, Atlantic Securities downgraded Prudential Financial from an overweight rating to a neutral rating in a research note on Friday, February 10th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $108.84.
Shares of Prudential Financial (NYSE:PRU) traded down 0.69% during midday trading on Friday, reaching $105.69. 744,040 shares of the company’s stock were exchanged. The stock has a market cap of $45.34 billion, a P/E ratio of 10.72 and a beta of 1.69. Prudential Financial has a one year low of $66.51 and a one year high of $114.55. The company’s 50-day moving average is $106.32 and its 200-day moving average is $106.25.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.15. The business had revenue of $13.24 billion during the quarter, compared to the consensus estimate 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 in the prior year, the company posted $2.18 EPS. Equities analysts expect that Prudential Financial will post $10.64 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Tuesday, May 23rd will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, May 19th. Prudential Financial’s payout ratio is currently 28.90%.
In other Prudential Financial news, insider Charles F. Lowrey sold 222,857 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $108.04, for a total value of $24,077,470.28. Following the completion of the sale, the insider now directly owns 151,418 shares in the company, valued at approximately $16,359,200.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Adirondack Trust Co. boosted its stake in shares of Prudential Financial by 7.6% in the first quarter. Adirondack Trust Co. now owns 1,133 shares of the financial services provider’s stock valued at $121,000 after buying an additional 80 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Prudential Financial during the fourth quarter valued at about $130,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Prudential Financial during the fourth quarter valued at about $134,000. Quadrant Capital Group LLC boosted its stake in shares of Prudential Financial by 11.1% in the first quarter. Quadrant Capital Group LLC now owns 1,376 shares of the financial services provider’s stock valued at $139,000 after buying an additional 137 shares during the last quarter. Finally, First Personal Financial Services boosted its stake in shares of Prudential Financial by 3.4% in the first quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock valued at $150,000 after buying an additional 46 shares during the last quarter. 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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