Analysts Set Prudential Financial, Inc. (NYSE:PRU) PT at $115.25

Prudential Financial, Inc. (NYSE:PRU) has been given an average recommendation of “Reduce” by the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $115.25.

PRU has been the topic of a number of research reports. Piper Sandler lowered their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Morgan Stanley lifted their price objective on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Evercore ISI lifted their price objective on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. Wells Fargo & Company lifted their price objective on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th.

Prudential Financial Stock Performance

NYSE PRU opened at $117.73 on Wednesday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial has a 52-week low of $83.34 and a 52-week high of $121.39. The business’s 50-day moving average price is $115.44 and its 200 day moving average price is $110.39. The firm has a market cap of $42.27 billion, a P/E ratio of 20.02, a P/E/G ratio of 0.88 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same period in the prior year, the business earned $2.66 EPS. The business’s quarterly revenue was up 69.9% compared to the same quarter last year. On average, equities research analysts expect that Prudential Financial will post 13.41 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were given a dividend of $1.30 per share. The ex-dividend date was Monday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.42%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Insider Buying and Selling

In related news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now directly owns 202,083 shares in the company, valued at approximately $23,960,981.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now directly owns 202,083 shares in the company, valued at approximately $23,960,981.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the transaction, the senior vice president now owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PRU. QRG Capital Management Inc. acquired a new stake in shares of Prudential Financial during the 3rd quarter worth $1,304,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Prudential Financial during the 3rd quarter worth $1,424,000. Envestnet Asset Management Inc. increased its holdings in shares of Prudential Financial by 39.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,004,087 shares of the financial services provider’s stock worth $95,278,000 after buying an additional 282,667 shares during the last quarter. FMR LLC increased its holdings in shares of Prudential Financial by 2.9% during the 3rd quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock worth $124,801,000 after buying an additional 36,599 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Prudential Financial during the 3rd quarter worth $204,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Company Profile

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.