Trade Report: Today: Prudential Financial Inc. (PRU) PT Raised to $100.00 at FBR & Co

Today: Prudential Financial Inc. (PRU) PT Raised to $100.00 at FBR & Co

Prudential Financial Inc. (NYSE:PRU) had its target price lifted by analysts at FBR & Co from $86.00 to $100.00 in a note issued to investors on Monday. The firm presently 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 equities analysts have also recently weighed in on PRU. Goldman Sachs Group Inc. upgraded Prudential Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $80.00 to $93.00 in a research report on Friday, September 23rd. Wells Fargo & Co. initiated coverage on Prudential Financial in a research report on Friday, September 23rd. They issued a “market perform” rating for the company. Credit Suisse Group AG initiated coverage on Prudential Financial in a research report on Friday, October 7th. They issued a “neutral” rating and a $89.00 price target for the company. Finally, Bank of America Corp. upgraded Prudential Financial from an “underperform” rating to a “buy” rating in a research report on Friday, November 18th. 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 assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $91.60.

Prudential Financial (NYSE:PRU) traded down 1.67% during midday trading on Monday, reaching $99.11. The company’s stock had a trading volume of 471,800 shares. The firm has a 50 day moving average of $89.55 and a 200 day moving average of $79.73. Prudential Financial has a 52-week low of $57.19 and a 52-week high of $101.96. The firm has a market cap of $42.62 billion, a P/E ratio of 9.34 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 earnings per share for the quarter, beating the Thomson Reuters’ 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 previous year, the firm earned $2.40 earnings per share. Analysts anticipate that Prudential Financial will post $8.99 earnings per share for the current fiscal year.

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

In other Prudential Financial news, insider Scott Sleyster sold 9,379 shares of the company’s stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $85.06, for a total transaction of $797,777.74. Following the completion of the transaction, the insider now owns 34,185 shares of the company’s stock, valued at approximately $2,907,776.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles F. Lowrey sold 50,322 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $85.00, for a total value of $4,277,370.00. Following the transaction, the insider now directly owns 92,458 shares of the company’s stock, valued at approximately $7,858,930. The disclosure for this sale can be found here. Company 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. Seven Eight Capital LLC raised its position in Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock worth $155,000 after buying an additional 1,900 shares during the last quarter. Squarepoint Ops LLC raised its position in Prudential Financial by 144.9% in the first quarter. Squarepoint Ops LLC now owns 11,738 shares of the company’s stock worth $848,000 after buying an additional 6,945 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Prudential Financial by 13.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 33,112 shares of the company’s stock worth $2,394,000 after buying an additional 3,917 shares during the last quarter. First Republic Investment Management Inc. raised its position in Prudential Financial by 37.1% in the first quarter. First Republic Investment Management Inc. now owns 25,345 shares of the company’s stock worth $1,830,000 after buying an additional 6,856 shares during the last quarter. Finally, Fulton Bank N.A. raised its position in Prudential Financial by 6.3% in the second quarter. Fulton Bank N.A. now owns 3,214 shares of the company’s stock worth $229,000 after buying an additional 190 shares during the last quarter. 60.46% of the stock is owned by institutional investors and hedge funds.

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