Prudential Financial Inc. (NYSE:PRU) had its price objective increased by equities researchers at FBR & Co from $86.00 to $100.00 in a research report issued to clients and investors on Monday. The brokerage presently has a “market perform” rating on the stock. FBR & Co’s target price would indicate a potential downside of 0.78% from the stock’s previous close.
PRU has been the topic of a number of other reports. Bank of America Corp. downgraded shares of Prudential Financial from a “buy” rating to an “underperform” rating and set a $108.00 price objective on the stock. in a report on Friday, November 18th. Goldman Sachs Group Inc. raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $93.00 in a report on Friday, September 23rd. Credit Suisse Group AG began coverage on shares of Prudential Financial in a report on Friday, October 7th. They set a “neutral” rating and a $89.00 price objective on the stock. Finally, Wells Fargo & Co. began coverage on shares of Prudential Financial in a report on Friday, September 23rd. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Prudential Financial currently has an average rating of “Buy” and an average price target of $91.60.
Prudential Financial (NYSE:PRU) opened at 100.79 on Monday. The stock’s 50 day moving average is $89.55 and its 200-day moving average is $79.73. Prudential Financial has a 12-month low of $57.19 and a 12-month high of $101.96. The company has a market cap of $43.34 billion, a P/E ratio of 9.50 and a beta of 1.68.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $2.66 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 quarter last year, the firm posted $2.40 earnings per share. Analysts predict that Prudential Financial will post $8.99 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 22nd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is 26.32%.
In related news, SVP Sharon C. Taylor sold 85,490 shares of the company’s 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 transaction, the senior vice president now directly owns 77,221 shares in the company, valued at $6,563,012.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy P. Harris sold 6,531 shares of the company’s 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 $555,135.00. Following the completion of the transaction, the executive vice president now owns 20,924 shares in the company, valued at $1,778,540. 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 valued at $100,000. Oakworth Capital Inc. boosted 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 valued at $106,000 after buying an additional 232 shares during the period. Bessemer Group Inc. boosted 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 valued at $108,000 after buying an additional 95 shares during the period. Gierl Augustine Investment Management Inc boosted 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 valued at $116,000 after buying an additional 206 shares during the period. Finally, Global X Management Co. LLC boosted 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 valued at $122,000 after buying an additional 1,089 shares during the period. Institutional investors own 60.46% of the company’s stock.
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