Prudential Financial, Inc. (NYSE:PRU) Receives $126.33 Consensus Target Price from Brokerages

Prudential Financial, Inc. (NYSE:PRU) has been assigned an average rating of “Hold” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $127.17.

A number of research firms have recently commented on PRU. TD Cowen raised their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Jefferies Financial Group increased their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company lifted their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, Bank of America increased their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th.

Prudential Financial Trading Down 0.7 %

NYSE PRU opened at $118.36 on Friday. The company has a 50-day moving average of $122.65 and a 200-day moving average of $120.67. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial has a 12 month low of $100.60 and a 12 month high of $130.55. The company has a market cap of $42.14 billion, a P/E ratio of 10.52, a P/E/G ratio of 0.87 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter last year, the firm posted $3.44 earnings per share. As a group, equities analysts predict that Prudential Financial will post 13.35 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is currently 46.22%.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Prudential Financial

Several large investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Prudential Financial in the 3rd quarter worth about $31,000. Strategic Financial Concepts LLC boosted its stake in 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 acquiring an additional 25,027 shares during the period. Quarry LP grew its holdings in shares of Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares during the last quarter. Tompkins Financial Corp lifted its holdings in shares of Prudential Financial by 61.7% in the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in Prudential Financial by 235.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 266 shares during the period. 56.83% of the stock is currently owned by institutional investors.

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.