Prudential Financial, Inc. (NYSE:PRU) Receives Average Rating of “Hold” from Analysts

Shares of Prudential Financial, Inc. (NYSE:PRU) have been assigned a consensus rating of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $126.15.

A number of equities research analysts have issued reports on PRU shares. Keefe, Bruyette & Woods reduced their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Morgan Stanley decreased their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. BMO Capital Markets started coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target on the stock. Jefferies Financial Group lifted their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, TD Cowen upped their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th.

Insider Buying and Selling

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the transaction, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Prudential Financial

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Prudential Financial by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock worth $4,960,547,000 after purchasing an additional 220,671 shares in the last quarter. State Street Corp raised its stake in shares of Prudential Financial by 0.3% during the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock worth $2,059,549,000 after buying an additional 49,830 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Prudential Financial by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider’s stock valued at $1,050,635,000 after buying an additional 193,681 shares during the period. Northern Trust Corp boosted its stake in shares of Prudential Financial by 23.7% in the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock valued at $555,513,000 after buying an additional 897,916 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Prudential Financial by 11.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider’s stock worth $404,230,000 after acquiring an additional 352,335 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 1.0 %

PRU opened at $114.32 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market cap of $40.93 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.98 and a beta of 1.28. Prudential Financial has a 52 week low of $104.45 and a 52 week high of $130.55. The business has a fifty day simple moving average of $113.44 and a 200-day simple moving average of $119.01.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, equities analysts expect that Prudential Financial will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.72%. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.