Prudential Financial, Inc. (NYSE:PRU) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Prudential Financial, Inc. (NYSE:PRUGet Free Report) have earned an average rating of “Reduce” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $115.25.

Several research firms have recently commented on PRU. Keefe, Bruyette & Woods upped their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Evercore ISI increased their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Jefferies Financial Group raised shares of Prudential Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $121.00 to $143.00 in a report on Wednesday, May 22nd. Wells Fargo & Company increased their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Finally, Morgan Stanley increased their target price on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th.

Get Our Latest Research Report on PRU

Insider Activity

In other news, EVP Robert Falzon sold 130,092 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now directly owns 202,083 shares in the company, valued at approximately $23,960,981.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Robert Falzon sold 130,092 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the sale, the executive vice president now owns 202,083 shares in the company, valued at approximately $23,960,981.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy L. Schmidt sold 5,189 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now owns 12,236 shares in the company, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Prudential Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Peoples Bank OH raised its holdings in Prudential Financial by 2.3% during the 1st quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock valued at $475,000 after buying an additional 90 shares during the period. Sequoia Financial Advisors LLC increased its stake in Prudential Financial by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock worth $875,000 after purchasing an additional 94 shares during the period. Jaffetilchin Investment Partners LLC increased its stake in Prudential Financial by 4.6% in the first quarter. Jaffetilchin Investment Partners LLC now owns 2,131 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 94 shares during the period. Bruce G. Allen Investments LLC increased its stake in Prudential Financial by 38.6% in the first quarter. Bruce G. Allen Investments LLC now owns 352 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 98 shares during the period. Finally, Checchi Capital Advisers LLC increased its stake in Prudential Financial by 2.0% in the first quarter. Checchi Capital Advisers LLC now owns 4,932 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 99 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

NYSE PRU opened at $117.73 on Wednesday. Prudential Financial has a 52 week low of $83.34 and a 52 week high of $121.39. The firm has a market capitalization of $42.27 billion, a P/E ratio of 20.02, a PEG ratio of 0.88 and a beta of 1.35. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The company has a 50-day moving average price of $115.44 and a 200-day moving average price of $110.39.

Prudential Financial (NYSE:PRUGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The business had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same period in the previous year, the company earned $2.66 EPS. Prudential Financial’s revenue for the quarter was up 69.9% compared to the same quarter last year. Equities research analysts anticipate that Prudential Financial will post 13.41 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.42%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Prudential Financial Company Profile

(Get Free Report

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.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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