Prudential Financial, Inc. (NYSE:PRU) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Prudential Financial, Inc. (NYSE:PRU) have been given a consensus recommendation of “Hold” by the thirteen ratings firms that are covering the company, Marketbeat reports. Eleven research analysts have rated the stock with a hold rating, one has assigned 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 a report on the stock in the last year is $125.69.

PRU has been the topic of several recent research reports. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Morgan Stanley dropped their target price 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. Finally, Piper Sandler lifted their price target on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd.

Prudential Financial Stock Performance

Shares of PRU stock opened at $127.92 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial has a 12-month low of $94.92 and a 12-month high of $129.13. The company has a market cap of $45.54 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.90 and a beta of 1.29. The stock has a 50 day simple moving average of $123.30 and a 200-day simple moving average of $119.70.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The firm 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 in the previous year, the firm earned $3.44 earnings per share. On average, equities analysts forecast that Prudential Financial will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.07%. Prudential Financial’s dividend payout ratio is currently 46.22%.

Insider Activity at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated 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 directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 6.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Institutional investors have recently made changes to their positions in the company. Creekmur Asset Management LLC boosted its holdings in Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 108 shares during the period. Lynx Investment Advisory bought a new stake in shares of Prudential Financial during the 2nd quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial during the third quarter worth about $31,000. Quarry LP lifted its holdings in Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 222 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new position in Prudential Financial in the first quarter valued at approximately $33,000. 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.