Today, FBR & Co Boosts Prudential Financial Inc. (PRU) Price Target to $100.00

Today, FBR & Co Boosts Prudential Financial Inc. (PRU) Price Target to $100.00

Prudential Financial Inc. (NYSE:PRU) had its price target hoisted by stock analysts at FBR & Co from $86.00 to $100.00 in a report issued on Monday. The brokerage presently has a “market perform” rating on the stock. FBR & Co’s price target indicates a potential downside of 0.78% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Co. assumed coverage on shares of Prudential Financial in a research report on Friday, September 23rd. They set a “market perform” rating for the company. Bank of America Corp. cut shares of Prudential Financial from a “buy” rating to an “underperform” rating and set a $108.00 target price for the company. in a research report on Friday, November 18th. Credit Suisse Group AG assumed coverage on shares of Prudential Financial in a research report on Friday, October 7th. They set a “neutral” rating and a $89.00 target price for the company. Finally, Goldman Sachs Group Inc. raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and increased their target price for the company from $80.00 to $93.00 in a research report on Friday, September 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $91.60.

Prudential Financial (NYSE:PRU) traded down 0.75% during midday trading on Monday, reaching $100.03. 1,163,155 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $89.55 and its 200-day moving average is $79.73. Prudential Financial has a 12-month low of $57.19 and a 12-month high of $101.96. The stock has a market capitalization of $43.01 billion, a price-to-earnings ratio of 9.43 and a beta of 1.68.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.17. Prudential Financial had a net margin of 8.92% and a return on equity of 7.73%. During the same period in the previous year, the firm posted $2.40 earnings per share. On average, equities analysts forecast that Prudential Financial will post $8.99 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 22nd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Friday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 26.32%.

In other Prudential Financial news, insider Charles F. Lowrey sold 41,644 shares of Prudential Financial stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $80.00, for a total transaction of $3,331,520.00. Following the transaction, the insider now directly owns 98,307 shares of the company’s stock, valued at $7,864,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Sleyster sold 9,379 shares of Prudential Financial stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $85.06, for a total transaction of $797,777.74. Following the transaction, the insider now directly owns 34,185 shares in the company, valued at $2,907,776.10. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of PRU. Robeco Institutional Asset Management B.V. increased its position in shares of Prudential Financial by 96.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 156,322 shares of the company’s stock worth $11,152,000 after buying an additional 76,873 shares during the period. Artemis Investment Management LLP increased its position in shares of Prudential Financial by 242.9% in the second quarter. Artemis Investment Management LLP now owns 195,800 shares of the company’s stock worth $13,965,000 after buying an additional 138,700 shares during the period. Douglas Lane & Associates LLC increased its position in shares of Prudential Financial by 11.2% in the second quarter. Douglas Lane & Associates LLC now owns 497,664 shares of the company’s stock worth $35,503,000 after buying an additional 50,012 shares during the period. Boston Advisors LLC increased its position in shares of Prudential Financial by 1.1% in the second quarter. Boston Advisors LLC now owns 241,447 shares of the company’s stock worth $17,225,000 after buying an additional 2,571 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Prudential Financial by 20.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 320,604 shares of the company’s stock worth $22,872,000 after buying an additional 54,266 shares during the period. 60.46% of the stock is currently owned by institutional investors.

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