Trade Report: Today: FBR & Co Trims Prudential Financial Inc. (PRU) Target Price to $86.00

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

Prudential Financial Inc. (NYSE:PRU) had its price objective reduced by investment analysts at FBR & Co from $100.00 to $86.00 in a note issued to investors on Monday. The brokerage presently has a “mkt perform” rating on the stock. FBR & Co’s price objective would indicate a potential downside of 14.67% from the company’s previous close.

PRU has been the topic of several other reports. Goldman Sachs Group Inc. upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $80.00 to $93.00 in a report on Friday, September 23rd. Wells Fargo & Co. began coverage on shares of Prudential Financial in a research report on Friday, September 23rd. They issued a “market perform” rating for the company. Credit Suisse Group AG began coverage on shares of Prudential Financial in a research report on Friday, October 7th. They issued a “neutral” rating and a $89.00 target price for the company. Finally, Bank of America Corp. raised shares of Prudential Financial from an “underperform” rating to a “buy” rating in a research report on Friday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $90.67.

Prudential Financial (NYSE:PRU) traded down 1.47% on Monday, hitting $99.31. The company’s stock had a trading volume of 410,674 shares. Prudential Financial has a 1-year low of $57.19 and a 1-year 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. The company has a market capitalization of $42.70 billion, a P/E ratio of 9.36 and a beta of 1.68.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $2.66 EPS for the quarter, beating the Thomson Reuters’ 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 quarter in the previous year, the company earned $2.40 EPS. On average, equities analysts forecast that Prudential Financial will post $8.99 earnings per share for the current fiscal year.

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

In related news, EVP Timothy P. Harris sold 6,531 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 20,924 shares in the company, valued at approximately $1,778,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott Sleyster sold 9,379 shares of the business’s stock in a transaction 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 transaction, the insider now owns 34,185 shares in the company, valued at approximately $2,907,776.10. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chevy Chase Trust Holdings Inc. increased its position in Prudential Financial by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 378,709 shares of the company’s stock worth $27,017,000 after buying an additional 1,332 shares during the last quarter. Newman Dignan & Sheerar Inc. increased its position in Prudential Financial by 28.1% in the second quarter. Newman Dignan & Sheerar Inc. now owns 7,404 shares of the company’s stock worth $528,000 after buying an additional 1,625 shares during the last quarter. Exxonmobil Investment Management Inc. TX increased its position in Prudential Financial by 5.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 114,412 shares of the company’s stock worth $8,162,000 after buying an additional 5,822 shares during the last quarter. DNB Asset Management AS increased its position in Prudential Financial by 3.0% in the second quarter. DNB Asset Management AS now owns 40,550 shares of the company’s stock valued at $2,893,000 after buying an additional 1,200 shares during the last quarter. Finally, British Columbia Investment Management Corp increased its position in Prudential Financial by 22.7% in the second quarter. British Columbia Investment Management Corp now owns 276,129 shares of the company’s stock valued at $19,699,000 after buying an additional 51,140 shares during the last quarter. Institutional investors own 60.46% of the company’s stock.

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