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

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

Prudential Financial Inc. (NYSE:PRU) had its target price boosted by FBR & Co from $86.00 to $100.00 in a report issued on Monday. The firm currently has a “market perform” rating on the stock. FBR & Co’s price target would suggest a potential downside of 0.04% from the stock’s previous close.

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

Prudential Financial (NYSE:PRU) traded down 1.36% during mid-day trading on Monday, hitting $99.42. The stock had a trading volume of 2,009,730 shares. The stock has a market cap of $42.75 billion, a P/E ratio of 9.37 and a beta of 1.68. Prudential Financial has a 52-week low of $57.19 and a 52-week high of $101.96. The firm has a 50-day moving average of $89.55 and a 200-day moving average of $79.73.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data 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 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 EPS. On average, analysts forecast that Prudential Financial will post $8.99 EPS for the current fiscal year.

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

In related news, insider Charles F. Lowrey sold 41,644 shares of the 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 directly 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 at the SEC website. Also, insider Scott Sleyster sold 9,379 shares of the stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $85.06, for a total transaction of $797,777.74. Following the transaction, the insider now directly owns 34,185 shares of the company’s stock, valued at $2,907,776.10. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of PRU. First Heartland Consultants Inc. purchased a new position in Prudential Financial during the third quarter valued at about $202,000. D.A. Davidson & CO. boosted its position in Prudential Financial by 43.4% in the third quarter. D.A. Davidson & CO. now owns 21,221 shares of the company’s stock valued at $1,732,000 after buying an additional 6,422 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Prudential Financial during the third quarter valued at about $13,858,000. Price T Rowe Associates Inc. MD boosted its position in Prudential Financial by 2.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 833,980 shares of the company’s stock valued at $68,094,000 after buying an additional 21,010 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC boosted its position in Prudential Financial by 9.3% in the third quarter. Quantitative Systematic Strategies LLC now owns 12,677 shares of the company’s stock valued at $1,016,000 after buying an additional 1,076 shares in the last quarter. 60.46% of the stock is owned by hedge funds and other institutional investors.

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