Credit Suisse Group reissued their outperform rating on shares of Prudential Financial (NYSE:PRU) in a research report report published on Thursday morning, Stock Target Advisor reports.
PRU has been the subject of several other research reports. Zacks Investment Research upgraded shares of Prudential Financial from a sell rating to a hold rating and set a $89.00 price target for the company in a research report on Tuesday, September 10th. Goldman Sachs Group reduced their price target on shares of Prudential Financial from $107.00 to $99.00 and set a buy rating for the company in a research report on Thursday, September 12th. Citigroup reduced their price target on shares of Prudential Financial from $94.00 to $88.00 and set a neutral rating for the company in a research report on Friday, September 13th. UBS Group upped their price target on shares of Prudential Financial from $84.00 to $85.00 and gave the company a neutral rating in a research report on Thursday, October 10th. Finally, Barclays set a $108.00 price target on shares of Prudential Financial and gave the company a buy rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $98.71.
Shares of Prudential Financial stock traded up $0.67 during trading hours on Thursday, hitting $90.05. The company had a trading volume of 1,226,361 shares, compared to its average volume of 2,077,739. The company’s 50-day moving average is $86.58 and its two-hundred day moving average is $94.54. Prudential Financial has a twelve month low of $75.61 and a twelve month high of $106.39. The company has a market cap of $36.16 billion, a P/E ratio of 7.70, a price-to-earnings-growth ratio of 0.81 and a beta of 1.57. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $3.14 EPS for the quarter, missing the consensus estimate of $3.22 by ($0.08). Prudential Financial had a net margin of 6.92% and a return on equity of 9.24%. The business had revenue of $14.11 billion during the quarter, compared to analysts’ expectations of $13.63 billion. During the same quarter last year, the company earned $3.01 EPS. Sell-side analysts expect that Prudential Financial will post 12.34 EPS for the current year.
In other news, CEO Charles F. Lowrey acquired 7,500 shares of the business’s stock in a transaction on Monday, September 9th. The stock was bought at an average price of $83.68 per share, for a total transaction of $627,600.00. Following the transaction, the chief executive officer now owns 64,263 shares in the company, valued at $5,377,527.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Sleyster sold 12,994 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $90.00, for a total transaction of $1,169,460.00. Following the transaction, the executive vice president now owns 55,746 shares of the company’s stock, valued at approximately $5,017,140. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 13,580 shares of company stock valued at $1,137,848. 0.76% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. Coastal Capital Group Inc. purchased a new position in Prudential Financial during the 2nd quarter worth $25,000. WealthStone Inc. purchased a new position in Prudential Financial during the 2nd quarter worth $25,000. Virtus ETF Advisers LLC purchased a new position in Prudential Financial during the 2nd quarter worth $26,000. Bartlett & Co. LLC raised its position in Prudential Financial by 163.0% during the 2nd quarter. Bartlett & Co. LLC now owns 263 shares of the financial services provider’s stock worth $27,000 after buying an additional 163 shares during the last quarter. Finally, Ibex Wealth Advisors purchased a new position in Prudential Financial during the 2nd quarter worth $26,000. Institutional investors own 63.22% of the company’s stock.
About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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