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

Prudential Financial, Inc. (NYSE:PRU) has been assigned an average rating of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $122.2727.

Several analysts have recently commented on PRU shares. Morgan Stanley raised their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday. Barclays reduced their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Finally, Wolfe Research initiated coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company.

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On Prudential Financial

Hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. increased its holdings in Prudential Financial by 90.2% during the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 111 shares in the last quarter. Cheviot Value Management LLC purchased a new position in Prudential Financial during the 1st quarter valued at about $26,000. North Capital Inc. purchased a new position in Prudential Financial during the 1st quarter valued at about $28,000. AlphaQuest LLC increased its holdings in Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 245 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in Prudential Financial during the 1st quarter valued at about $30,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Down 3.4%

PRU stock opened at $99.08 on Tuesday. Prudential Financial has a one year low of $90.38 and a one year high of $130.55. The stock has a market capitalization of $34.88 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 0.88 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The company has a fifty day moving average of $105.15 and a 200-day moving average of $104.47.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The company had revenue of $8.35 billion during the quarter. As a group, analysts expect that Prudential Financial will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a $1.35 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.5%. Prudential Financial’s dividend payout ratio (DPR) is 119.73%.

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.