Prudential Financial (NYSE:PRU – Free Report) had its target price lowered by Wells Fargo & Company from $104.00 to $103.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an underweight rating on the financial services provider’s stock.
A number of other analysts have also commented on PRU. Wall Street Zen lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Monday, September 28th. Jefferies Financial Group cut their price target on Prudential Financial from $116.00 to $109.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Weiss Ratings lowered Prudential Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Barclays decreased their price objective on Prudential Financial from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, October 19th. Finally, Morgan Stanley dropped their price objective on Prudential Financial from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Monday, October 19th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $111.27.
View Our Latest Analysis on Prudential Financial
Prudential Financial Price Performance
PRU opened at $116.35 on Wednesday. Prudential Financial has a 1 year low of $91.89 and a 1 year high of $127.72. The stock has a fifty day moving average price of $116.96 and a 200 day moving average price of $108.79. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. The stock has a market cap of $40.14 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 1.96 and a beta of 0.85.
Prudential Financial (NYSE:PRU – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.36 billion. During the same period in the prior year, the company posted $3.58 earnings per share. Analysts forecast that Prudential Financial will post 13.52 EPS for the current fiscal year.
Prudential Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Tuesday, August 25th. Prudential Financial’s dividend payout ratio is presently 50.72%.
Insider Buying and Selling at Prudential Financial
In other news, EVP Ann Kappler sold 7,652 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the transaction, the executive vice president owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. The trade was a 34.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.05% of the company’s stock.
Institutional Trading of Prudential Financial
Several institutional investors have recently modified their holdings of PRU. Orca Investment Management LLC bought a new stake in Prudential Financial during the second quarter worth approximately $2,605,000. Jones Financial Companies Lllp grew its holdings in Prudential Financial by 21.3% during the 2nd quarter. Jones Financial Companies Lllp now owns 58,436 shares of the financial services provider’s stock valued at $6,325,000 after purchasing an additional 10,257 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Prudential Financial by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 739,294 shares of the financial services provider’s stock valued at $79,792,000 after purchasing an additional 19,451 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Prudential Financial by 379.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 619,701 shares of the financial services provider’s stock worth $66,884,000 after purchasing an additional 490,553 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in Prudential Financial by 32.4% in the second quarter. Allianz Asset Management GmbH now owns 28,105 shares of the financial services provider’s stock worth $3,033,000 after purchasing an additional 6,877 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.
About Prudential Financial
Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.
In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.
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