Today, FBR & Co Cuts Prudential Financial Inc. (PRU) Price Target to $86.00

Today, FBR & Co Cuts Prudential Financial Inc. (PRU) Price Target to $86.00

Prudential Financial Inc. (NYSE:PRU) had its price target cut by stock analysts at FBR & Co from $100.00 to $86.00 in a report issued on Monday. The firm currently has a “mkt perform” rating on the stock. FBR & Co’s target price points to a potential downside of 14.03% from the company’s previous close.

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

Shares of Prudential Financial (NYSE:PRU) traded down 0.71% on Monday, hitting $100.07. The stock had a trading volume of 1,372,483 shares. The firm has a market capitalization of $43.03 billion, a P/E ratio of 9.43 and a beta of 1.68. The company has a 50 day moving average of $89.55 and a 200-day moving average of $79.73. Prudential Financial has a 12-month low of $57.19 and a 12-month high of $101.96.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, November 2nd. The company reported $2.66 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business posted $2.40 EPS. Equities analysts predict that Prudential Financial will post $8.99 EPS for the current fiscal year.

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

In other news, CFO Robert Falzon sold 9,781 shares of Prudential Financial stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $85.00, for a total transaction of $831,385.00. Following the completion of the transaction, the chief financial officer now directly owns 46,550 shares in the company, valued at $3,956,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy P. Harris sold 6,531 shares of Prudential Financial stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $85.00, for a total transaction of $555,135.00. Following the transaction, the executive vice president now 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.

Several hedge funds and other institutional investors have recently modified their holdings of PRU. Oakworth Capital Inc. boosted its position in shares of Prudential Financial by 21.8% in the third quarter. Oakworth Capital Inc. now owns 1,297 shares of the company’s stock worth $106,000 after buying an additional 232 shares in the last quarter. Americafirst Capital Management LLC acquired a new position in shares of Prudential Financial during the second quarter worth about $100,000. Global X Management Co. LLC boosted its position in shares of Prudential Financial by 272.3% in the third quarter. Global X Management Co. LLC now owns 1,489 shares of the company’s stock worth $122,000 after buying an additional 1,089 shares in the last quarter. Bessemer Group Inc. boosted its position 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. Finally, Tradewinds Capital Management LLC boosted its position in shares of Prudential Financial by 2.8% in the third quarter. Tradewinds Capital Management LLC now owns 1,601 shares of the company’s stock worth $131,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 60.46% of the company’s stock.

About Prudential Financial

Related posts

Leave a Comment