Prudential Financial (NYSE:PRU) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Prudential Financial (NYSE:PRU) from a hold rating to a buy rating in a report released on Saturday.

A number of other research analysts have also commented on PRU. Barclays cut their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Wells Fargo & Company cut their target price on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods raised their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Morgan Stanley boosted their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. 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. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $120.73.

Prudential Financial Stock Performance

PRU traded up $1.04 during trading on Friday, hitting $106.24. The stock had a trading volume of 1,523,905 shares, compared to its average volume of 1,723,578. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial has a 12 month low of $90.38 and a 12 month high of $130.55. The company has a 50 day simple moving average of $103.75 and a 200-day simple moving average of $104.55. The firm has a market cap of $37.19 billion, a PE ratio of 14.59, a P/E/G ratio of 0.88 and a beta of 1.05.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%.The business had revenue of $8.35 billion for the quarter. Analysts expect that Prudential Financial will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.1%. Prudential Financial’s dividend payout ratio is presently 74.18%.

Insider Activity at Prudential Financial

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

Institutional Investors Weigh In On Prudential Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. Proffitt & Goodson Inc. lifted its holdings in Prudential Financial by 12.7% during the 2nd quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 98 shares during the last quarter. SPC Financial Inc. increased its holdings in shares of Prudential Financial by 2.6% during the first quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock worth $444,000 after buying an additional 100 shares in the last quarter. Summit Global Investments raised its stake in shares of Prudential Financial by 1.3% in the second quarter. Summit Global Investments now owns 7,609 shares of the financial services provider’s stock valued at $817,000 after acquiring an additional 100 shares during the last quarter. Thrive Wealth Management LLC boosted its holdings in shares of Prudential Financial by 2.6% in the 2nd quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 101 shares in the last quarter. Finally, Woodward Diversified Capital LLC grew its position in Prudential Financial by 1.4% during the 3rd quarter. Woodward Diversified Capital LLC now owns 7,662 shares of the financial services provider’s stock worth $795,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

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.