Trading Report: Today: Prudential Financial Inc. (PRU) Price Target Raised to $100.00

Today: Prudential Financial Inc. (PRU) Price Target Raised to $100.00

Prudential Financial Inc. (NYSE:PRU) had its price target hoisted by equities researchers at FBR & Co from $86.00 to $100.00 in a research note issued on Monday. The brokerage currently has a “market perform” rating on the stock. FBR & Co’s price target indicates a potential downside of 0.78% from the stock’s previous close.

Several other analysts have also commented on the stock. Bank of America Corp. lowered shares of Prudential Financial from a “buy” rating to an “underperform” rating and set a $108.00 price target on the stock. in a research report on Friday, November 18th. Credit Suisse Group AG assumed coverage on shares of Prudential Financial in a research report on Friday, October 7th. They issued a “neutral” rating and a $89.00 price target on the stock. Wells Fargo & Co. started coverage on shares of Prudential Financial in a research report on Friday, September 23rd. They issued a “market perform” rating on the stock. Finally, Goldman Sachs Group Inc. upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $80.00 to $93.00 in a research report on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $91.60.

Shares of Prudential Financial (NYSE:PRU) opened at 100.79 on Monday. The stock has a 50 day moving average of $89.55 and a 200 day moving average of $79.73. The company has a market cap of $43.34 billion, a price-to-earnings ratio of 9.50 and a beta of 1.68. Prudential Financial has a 12-month low of $57.19 and a 12-month high of $101.96.

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 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 period last year, the firm earned $2.40 EPS. On average, equities analysts expect that Prudential Financial will post $8.99 earnings per share for the current fiscal year.

The company also recently declared 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 2.78%. The ex-dividend date of this dividend is Friday, November 18th. Prudential Financial’s dividend payout ratio (DPR) 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 shares were sold at an average price of $80.00, for a total transaction of $3,331,520.00. Following the sale, the insider now owns 98,307 shares of the company’s stock, valued at approximately $7,864,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy P. Harris sold 6,531 shares of Prudential Financial stock in a transaction 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 sale, the executive vice president now directly owns 20,924 shares in the company, valued at approximately $1,778,540. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. 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 valued at $106,000 after buying an additional 232 shares during the period. Americafirst Capital Management LLC bought a new position in shares of Prudential Financial during the second quarter valued at $100,000. Global X Management Co. LLC raised 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 in the last quarter. Bessemer Group Inc. raised 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 in the last quarter. Finally, Tradewinds Capital Management LLC raised 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 in the last quarter. 60.46% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Company Profile

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