Brokerages Set Prudential Financial, Inc. (NYSE:PRU) Price Target at $120.83

Prudential Financial, Inc. (NYSE:PRU) has earned an average rating of “Hold” from the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $120.83.

PRU has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price for the company in a report on Monday, August 12th. Morgan Stanley dropped their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. JPMorgan Chase & Co. raised their target price on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Finally, Barclays started coverage on shares of Prudential Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price target on the stock.

Insider Transactions at Prudential Financial

In related news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of PRU. Creekmur Asset Management LLC grew its holdings in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares during the period. Lynx Investment Advisory acquired a new stake in Prudential Financial in the second quarter valued at $29,000. Strategic Financial Concepts LLC increased its position in shares of Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after buying an additional 25,027 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Prudential Financial during the 1st quarter worth $33,000. Finally, ESL Trust Services LLC acquired a new stake in Prudential Financial in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Down 1.4 %

PRU opened at $119.36 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The company’s 50 day simple moving average is $117.12 and its two-hundred day simple moving average is $116.81. The firm has a market capitalization of $42.85 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 0.95 and a beta of 1.30. Prudential Financial has a 1-year low of $87.95 and a 1-year high of $128.52.

Prudential Financial (NYSE:PRU) last issued its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. Analysts expect that Prudential Financial will post 13.3 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Prudential Financial Company Profile

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.