Todays Report: Today, Prudential Financial Inc. (PRU) Given New $86.00 Price Target at FBR & Co

Today, Prudential Financial Inc. (PRU) Given New $86.00 Price Target at FBR & Co

Prudential Financial Inc. (NYSE:PRU) had its price target lowered by equities researchers at FBR & Co from $100.00 to $86.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “mkt perform” rating on the stock. FBR & Co’s price target suggests a potential downside of 14.03% from the stock’s current price.

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

Prudential Financial (NYSE:PRU) traded down 1.49% during mid-day trading on Monday, hitting $99.29. 1,853,448 shares of the stock traded hands. The stock has a market cap of $42.69 billion, a PE ratio of 9.36 and a beta of 1.68. Prudential Financial has a 12-month low of $57.19 and a 12-month high of $101.96. The company has a 50 day moving average of $89.55 and a 200-day moving average of $79.73.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, November 2nd. The company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates 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 research 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. Investors 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 of this dividend is Friday, November 18th. Prudential Financial’s payout ratio is 26.32%.

In other news, insider Charles F. Lowrey sold 41,644 shares of the company’s 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 completion of the transaction, the insider now owns 98,307 shares of the company’s stock, valued at approximately $7,864,560. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Robert Falzon sold 9,781 shares of the company’s 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 transaction, the chief financial officer now directly owns 46,550 shares of the company’s stock, valued at approximately $3,956,750. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PRU. Americafirst Capital Management LLC bought a new position in Prudential Financial during the second quarter worth approximately $100,000. Oakworth Capital Inc. increased its position 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 in the last quarter. Bessemer Group Inc. increased its position in 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. Gierl Augustine Investment Management Inc increased its position in Prudential Financial by 14.4% in the second quarter. Gierl Augustine Investment Management Inc now owns 1,632 shares of the company’s stock worth $116,000 after buying an additional 206 shares in the last quarter. Finally, Global X Management Co. LLC increased its position 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 worth $122,000 after buying an additional 1,089 shares in the last quarter. 60.46% of the stock is owned by institutional investors.

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