Prudential Financial, Inc. (NYSE:PRU – Get Free Report) has been assigned an average recommendation of “Reduce” from the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $101.50.
PRU has been the subject of a number of research analyst reports. Weiss Ratings lowered shares of Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Morgan Stanley reissued an “underweight” rating and set a $92.00 target price (down from $106.00) on shares of Prudential Financial in a research report on Monday, May 4th. JPMorgan Chase & Co. cut their target price on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Bank of America cut their price objective on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Finally, Barclays upped their price objective on shares of Prudential Financial from $89.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, May 6th.
Get Our Latest Analysis on PRU
Prudential Financial Stock Up 0.0%
Prudential Financial (NYSE:PRU – Get Free Report) last released its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. The firm had revenue of $15.23 billion during the quarter, compared to analyst estimates of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same quarter in the previous year, the business earned $3.29 EPS. As a group, analysts forecast that Prudential Financial will post 13.82 earnings per share for the current year.
Prudential Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.4%. Prudential Financial’s dividend payout ratio is currently 57.61%.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Jessup Wealth Management Inc acquired a new position in shares of Prudential Financial during the fourth quarter valued at about $25,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Prudential Financial during the fourth quarter valued at about $26,000. Salomon & Ludwin LLC increased its stake in Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 114 shares during the period. SJS Investment Consulting Inc. increased its stake in Prudential Financial by 93.1% in the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 134 shares during the period. Finally, Lodestone Wealth Management LLC bought a new stake in Prudential Financial in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 56.83% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.
Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.
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