Trade Report: Today, FBR & Co Downgrades Prudential Financial Inc. (PRU) to Market Perform

Today, FBR & Co Downgrades Prudential Financial Inc. (PRU) to Market Perform

Prudential Financial Inc. (NYSE:PRU) was downgraded by analysts at FBR & Co from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday. They currently have a $86.00 target price on the stock. FBR & Co’s price objective would suggest a potential upside of 1.76% from the stock’s previous close.

Other research analysts have also issued reports about the company. Deutsche Bank AG dropped their price objective on Prudential Financial from $90.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Bank of America Corp. lowered Prudential Financial from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 29th. Citigroup Inc. dropped their price objective on Prudential Financial from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Evercore ISI started coverage on Prudential Financial in a report on Wednesday, July 6th. They set a “hold” rating and a $78.00 target price on the stock. Finally, Wells Fargo & Co. started coverage on Prudential Financial in a report on Friday, September 23rd. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Prudential Financial has a consensus rating of “Buy” and a consensus target price of $89.13.

Shares of Prudential Financial (NYSE:PRU) opened at 84.51 on Tuesday. The firm’s 50-day moving average price is $81.09 and its 200 day moving average price is $76.73. The firm has a market cap of $36.93 billion, a P/E ratio of 8.68 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 quarterly earnings data on Wednesday, August 3rd. The company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period last year, the business earned $2.91 EPS. On average, equities analysts expect that Prudential Financial will post ($0.01) earnings per share for the current fiscal year.

In other news, SVP Sharon C. Taylor sold 85,490 shares of the firm’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $84.99, for a total transaction of $7,265,795.10. Following the sale, the senior vice president now owns 77,221 shares of the company’s stock, valued at $6,563,012.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Timothy P. Harris sold 6,531 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $85.00, for a total value of $555,135.00. Following the sale, the executive vice president now directly owns 20,924 shares in the company, valued at approximately $1,778,540. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in PRU. Americafirst Capital Management LLC purchased a new stake in shares of Prudential Financial during the second quarter worth about $100,000. Bessemer Group Inc. raised its stake in shares of Prudential Financial by 6.7% in the second quarter. Bessemer Group Inc. now owns 1,516 shares of the company’s stock worth $108,000 after buying an additional 95 shares in the last quarter. Gierl Augustine Investment Management Inc raised its stake in shares of Prudential Financial by 14.4% in the second quarter. Gierl Augustine Investment Management Inc now owns 1,632 shares of the company’s stock worth $116,000 after buying an additional 206 shares in the last quarter. Cantab Capital Partners LLP purchased a new stake in shares of Prudential Financial during the second quarter worth about $132,000. Finally, Seven Eight Capital LLC raised its stake in shares of Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock worth $155,000 after buying an additional 1,900 shares in the last quarter. 60.58% of the stock is currently owned by institutional investors.

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