Prudential Financial Inc. (NYSE:PRU) had its target price lifted by research analysts at FBR & Co from $86.00 to $100.00 in a report issued on Monday. The firm currently has a “market perform” rating on the stock. FBR & Co’s price objective would suggest a potential downside of 0.78% from the company’s current price.
Other analysts have also recently issued research reports about the company. Wells Fargo & Co. assumed coverage on Prudential Financial in a research report on Friday, September 23rd. They set a “market perform” rating for the company. Bank of America Corp. cut Prudential Financial from a “buy” rating to an “underperform” rating and set a $108.00 price objective for the company. in a research report on Friday, November 18th. Credit Suisse Group AG assumed coverage on Prudential Financial in a research report on Friday, October 7th. They set a “neutral” rating and a $89.00 price objective for the company. Finally, Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $93.00 in a research report on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $91.60.
Shares of Prudential Financial (NYSE:PRU) traded down 1.652% on Monday, reaching $99.125. The company had a trading volume of 439,134 shares. The firm has a market capitalization of $42.62 billion, a PE ratio of 9.345 and a beta of 1.68. Prudential Financial has a 52-week low of $57.19 and a 52-week high of $101.96. The company has a 50-day moving average price of $89.55 and a 200-day moving average price of $79.73.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business earned $2.40 earnings per share. Equities research analysts forecast that Prudential Financial will post $8.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 22nd will be issued 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 of this dividend is Friday, November 18th. Prudential Financial’s payout ratio is 26.32%.
In other Prudential Financial news, insider Charles F. Lowrey sold 50,322 shares of Prudential Financial stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $85.00, for a total transaction of $4,277,370.00. Following the sale, the insider now directly owns 92,458 shares of the company’s stock, valued at $7,858,930. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sharon C. Taylor sold 85,490 shares of Prudential Financial stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $84.99, for a total value of $7,265,795.10. Following the sale, the senior vice president now directly owns 77,221 shares in the company, valued at $6,563,012.79. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. 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 worth $106,000 after buying an additional 232 shares during the last quarter. Americafirst Capital Management LLC acquired a new position in shares of Prudential Financial during the second quarter valued at approximately $100,000. Global X Management Co. LLC increased 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 valued at $122,000 after buying an additional 1,089 shares during the last quarter. Bessemer Group Inc. increased 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 valued at $108,000 after buying an additional 95 shares during the last quarter. Finally, Tradewinds Capital Management LLC increased 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 valued at $131,000 after buying an additional 43 shares during the last quarter. 60.46% of the stock is currently owned by institutional investors.
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