Prudential Financial, Inc. (NYSE:PRU) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Prudential Financial, Inc. (NYSE:PRU) have been given a consensus rating of “Hold” by the thirteen research firms that are currently covering the company, MarketBeat reports. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $125.69.

A number of brokerages have weighed in on PRU. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Wells Fargo & Company boosted their price objective on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Bank of America increased their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st.

Prudential Financial Price Performance

Prudential Financial stock opened at $127.92 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The company’s fifty day moving average price is $123.30 and its 200 day moving average price is $119.70. The stock has a market capitalization of $45.54 billion, a P/E ratio of 11.37, a P/E/G ratio of 0.90 and a beta of 1.29. Prudential Financial has a 1 year low of $94.92 and a 1 year high of $129.13.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the prior year, the firm earned $3.44 earnings per share. As a group, equities research analysts anticipate that Prudential Financial will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Insider Activity at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Annex Advisory Services LLC boosted its stake in shares of Prudential Financial by 3.4% during the second quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock worth $289,000 after buying an additional 81 shares during the period. Raymond James Trust N.A. grew its stake in shares of Prudential Financial by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock valued at $951,000 after purchasing an additional 87 shares during the last quarter. Avidian Wealth Enterprises LLC increased its holdings in shares of Prudential Financial by 1.2% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 89 shares during the period. Quotient Wealth Partners LLC lifted its holdings in shares of Prudential Financial by 3.9% during the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 92 shares during the period. Finally, Jaffetilchin Investment Partners LLC grew its position in Prudential Financial by 4.6% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,131 shares of the financial services provider’s stock valued at $250,000 after buying an additional 94 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

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.