Wall Street Zen upgraded shares of Prudential Financial (NYSE:PRU – Free Report) from a hold rating to a buy rating in a report released on Saturday morning.
A number of other equities analysts have also recently weighed in on PRU. UBS Group decreased their price objective on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Argus lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Mizuho increased their price target on shares of Prudential Financial from $101.00 to $109.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Zacks Research raised shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Prudential Financial from $106.00 to $113.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $104.58.
View Our Latest Research Report on PRU
Prudential Financial Stock Down 0.9%
Prudential Financial (NYSE:PRU – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The business had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. During the same quarter last year, the business posted $3.29 earnings per share. As a group, research analysts anticipate that Prudential Financial will post 13.79 EPS for the current fiscal year.
Prudential Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were issued a dividend of $1.40 per share. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 annualized dividend and a yield of 4.7%. Prudential Financial’s dividend payout ratio is currently 57.61%.
Institutional Trading of Prudential Financial
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in shares of Prudential Financial by 1.2% in the fourth quarter. State Street Corp now owns 17,234,061 shares of the financial services provider’s stock worth $1,945,381,000 after purchasing an additional 210,959 shares during the last quarter. Geode Capital Management LLC raised its holdings in Prudential Financial by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 9,533,806 shares of the financial services provider’s stock valued at $1,078,904,000 after buying an additional 26,414 shares during the last quarter. Morgan Stanley boosted its position in Prudential Financial by 6.7% during the 4th quarter. Morgan Stanley now owns 6,649,202 shares of the financial services provider’s stock valued at $750,562,000 after buying an additional 420,081 shares during the period. Dimensional Fund Advisors LP grew its holdings in Prudential Financial by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,758,545 shares of the financial services provider’s stock worth $367,089,000 after acquiring an additional 166,641 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Prudential Financial by 95.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,556,748 shares of the financial services provider’s stock worth $249,769,000 after acquiring an additional 1,247,371 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.
About Prudential Financial
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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