Todays Report: The Prudential Financial Inc. (PRU) Research Coverage Started at Credit Suisse Group AG

The Prudential Financial Inc. (PRU) Research Coverage Started at Credit Suisse Group AG

Credit Suisse Group AG initiated coverage on shares of Prudential Financial Inc. (NYSE:PRU) in a research note released on Friday. The brokerage issued a neutral rating and a $89.00 target price on the stock.

A number of other analysts also recently commented on PRU. Evercore ISI assumed coverage on shares of Prudential Financial in a report on Wednesday, July 6th. They issued a hold rating and a $78.00 target price on the stock. Zacks Investment Research upgraded shares of Prudential Financial from a sell rating to a hold rating in a report on Thursday, July 14th. Goldman Sachs Group Inc. upgraded shares of Prudential Financial from a neutral rating to a buy rating and boosted their target price for the stock from $80.00 to $93.00 in a report on Friday, September 23rd. Citigroup Inc. dropped their target price on shares of Prudential Financial from $83.00 to $80.00 and set a buy rating on the stock in a report on Thursday, July 7th. Finally, Deutsche Bank AG dropped their target price on shares of Prudential Financial from $90.00 to $83.00 and set a buy rating on the stock in a report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $89.13.

Prudential Financial (NYSE:PRU) opened at 84.37 on Friday. The company’s 50-day moving average is $80.25 and its 200 day moving average is $76.38. The stock has a market capitalization of $36.87 billion, a PE ratio of 8.67 and a beta of 1.68. Prudential Financial has a 12-month low of $57.19 and a 12-month high of $88.77.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, August 3rd. The company reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by $0.67. Prudential Financial had a return on equity of 8.11% and a net margin of 8.90%. During the same quarter in the prior year, the company earned $2.91 earnings per share. On average, analysts predict that Prudential Financial will post ($0.01) EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Friday, August 19th. Prudential Financial’s dividend payout ratio is 28.78%.

In related news, insider Stephen Pelletier sold 4,470 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $76.36, for a total transaction of $341,329.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy P. Harris sold 6,531 shares of the company’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $85.00, for a total transaction of $555,135.00. Following the sale, the executive vice president now directly owns 20,924 shares of the company’s stock, valued at $1,778,540. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Americafirst Capital Management LLC purchased a new stake in Prudential Financial during the second quarter valued at about $100,000. Bessemer Group Inc. increased its stake in Prudential Financial by 6.7% in the second quarter. Bessemer Group Inc. now owns 1,516 shares of the company’s stock valued at $108,000 after buying an additional 95 shares in the last quarter. Gierl Augustine Investment Management Inc increased its stake in Prudential Financial by 14.4% in the second quarter. Gierl Augustine Investment Management Inc now owns 1,632 shares of the company’s stock valued at $116,000 after buying an additional 206 shares in the last quarter. Cantab Capital Partners LLP purchased a new stake in Prudential Financial during the second quarter valued at about $132,000. Finally, Seven Eight Capital LLC increased its stake in Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock valued at $155,000 after buying an additional 1,900 shares in the last quarter. 60.62% of the stock is owned by institutional investors and hedge funds.

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