Todays Report: 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 objective increased by stock analysts at FBR & Co from $86.00 to $100.00 in a research report issued on Monday. The firm presently has a “market perform” rating on the stock. FBR & Co’s target price would indicate a potential downside of 0.04% from the stock’s previous close.

PRU has been the topic of several other reports. Zacks Investment Research cut Prudential Financial from a “buy” rating to a “hold” rating in a report on Monday. Bank of America Corp. raised Prudential Financial from an “underperform” rating to a “buy” rating in a report on Friday, November 18th. Credit Suisse Group AG initiated coverage on Prudential Financial in a report on Friday, October 7th. They issued a “neutral” rating and a $89.00 target price on the stock. Wells Fargo & Co. initiated coverage on Prudential Financial in a report on Friday, September 23rd. They issued a “market perform” rating on the stock. Finally, Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $93.00 in a report on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $91.60.

Prudential Financial (NYSE:PRU) traded down 1.38% on Monday, reaching $99.40. The company’s stock had a trading volume of 2,355,653 shares. Prudential Financial has a one year low of $57.19 and a one year high of $101.96. The company has a market capitalization of $42.74 billion, a PE ratio of 9.37 and a beta of 1.68. The firm has a 50-day moving average of $89.97 and a 200-day moving average of $79.94.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $2.66 EPS for the quarter, beating the Zacks’ consensus estimate of $2.49 by $0.17. Prudential Financial had a return on equity of 7.73% and a net margin of 8.92%. During the same quarter in the previous year, the firm earned $2.40 EPS. Analysts predict that Prudential Financial will post $8.99 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 22nd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, November 18th. Prudential Financial’s dividend payout ratio is presently 26.32%.

In other news, insider Scott Sleyster sold 9,379 shares of Prudential Financial stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $85.06, for a total transaction of $797,777.74. Following the completion of the sale, the insider now owns 34,185 shares of the company’s stock, valued at $2,907,776.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy P. Harris sold 6,531 shares of Prudential Financial stock in a transaction that occurred on Wednesday, October 5th. The shares were 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 approximately $1,778,540. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of PRU. Oakworth Capital Inc. increased its stake in Prudential Financial by 21.8% in the third quarter. Oakworth Capital Inc. now owns 1,297 shares of the company’s stock valued at $106,000 after buying an additional 232 shares in the last quarter. Americafirst Capital Management LLC bought a new stake in Prudential Financial during the second quarter valued at $100,000. Global X Management Co. LLC increased its stake in Prudential Financial by 272.3% in the third quarter. Global X Management Co. LLC now owns 1,489 shares of the company’s stock valued at $122,000 after buying an additional 1,089 shares in the last quarter. 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. Finally, Tradewinds Capital Management LLC increased its stake in Prudential Financial by 2.8% in the third quarter. Tradewinds Capital Management LLC now owns 1,601 shares of the company’s stock valued at $131,000 after buying an additional 43 shares in the last quarter. 60.46% of the stock is owned by hedge funds and other institutional investors.

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