Prudential Financial Inc. (NYSE:PRU) had its price target increased by equities researchers at FBR & Co from $86.00 to $100.00 in a research note issued to investors on Monday. The brokerage presently has a “market perform” rating on the stock. FBR & Co’s target price would suggest a potential downside of 0.04% from the company’s current price.
Several other analysts also recently commented on PRU. Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $93.00 in a research note on Friday, September 23rd. Wells Fargo & Co. started coverage on Prudential Financial in a research report on Friday, September 23rd. They set a “market perform” rating for the company. Credit Suisse Group AG started coverage on Prudential Financial in a research report on Friday, October 7th. They set a “neutral” rating and a $89.00 price target for the company. Bank of America Corp. raised Prudential Financial from an “underperform” rating to a “buy” rating in a research report on Friday, November 18th. Finally, Zacks Investment Research downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research report on Monday. One investment 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 stock. The stock currently has an average rating of “Buy” and an average target price of $91.60.
Prudential Financial (NYSE:PRU) traded down 1.38% during trading on Monday, reaching $99.40. 2,355,653 shares of the company were exchanged. The firm has a market capitalization of $42.74 billion, a PE ratio of 9.37 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 stock has a 50 day moving average price of $89.97 and a 200 day moving average price of $79.94.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $2.66 EPS for the quarter, topping the 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 period in the prior year, the firm earned $2.40 earnings per share. On average, analysts expect that Prudential Financial will post $8.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors 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 yield of 2.80%. The ex-dividend date of this dividend is Friday, November 18th. Prudential Financial’s dividend payout ratio is 26.32%.
In related news, insider Charles F. Lowrey sold 41,644 shares of Prudential Financial stock in a transaction on Friday, September 9th. The stock was sold at an average price of $80.00, for a total transaction of $3,331,520.00. Following the completion of the sale, the insider now owns 98,307 shares of the company’s stock, valued at $7,864,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Sharon C. Taylor sold 85,490 shares of Prudential Financial stock in a transaction 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 of the company’s stock, valued at approximately $6,563,012.79. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Americafirst Capital Management LLC acquired a new stake in Prudential Financial during the second quarter valued at about $100,000. 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. 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 worth $108,000 after buying an additional 95 shares during the last quarter. Gierl Augustine Investment Management Inc increased its stake 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 during the last quarter. Finally, 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 worth $122,000 after buying an additional 1,089 shares during the last quarter. 60.46% of the stock is owned by institutional investors.
Prudential Financial Company Profile