Prudential Financial, Inc. (NYSE:PRU) Receives $116.67 Consensus PT from Analysts

Shares of Prudential Financial, Inc. (NYSE:PRU) have received a consensus rating of “Reduce” from the twelve brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $116.67.

A number of research analysts have recently weighed in on PRU shares. Jefferies Financial Group dropped their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Keefe, Bruyette & Woods increased their price target on Prudential Financial from $118.00 to $121.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Piper Sandler lowered their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Morgan Stanley increased their price objective on shares of Prudential Financial from $120.00 to $123.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd.

Prudential Financial Trading Down 1.6 %

NYSE:PRU opened at $125.30 on Friday. The stock has a market capitalization of $44.98 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 0.97 and a beta of 1.34. Prudential Financial has a 1 year low of $87.95 and a 1 year high of $128.52. The stock has a fifty day moving average price of $118.66 and a two-hundred day moving average price of $112.55. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. During the same quarter in the previous year, the business posted $2.66 earnings per share. Prudential Financial’s revenue was up 69.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Prudential Financial will post 13.39 earnings per share for the current fiscal 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 paid a $1.30 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.15%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Buying and Selling

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert Falzon sold 130,092 shares of the firm’s 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 sale, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Prudential Financial

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Prudential Financial by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after buying an additional 5,154,865 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Prudential Financial by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock valued at $414,926,000 after acquiring an additional 388,363 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Prudential Financial by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,346,612 shares of the financial services provider’s stock worth $243,367,000 after purchasing an additional 72,696 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Prudential Financial by 9,281.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after purchasing an additional 1,354,248 shares during the period. Finally, abrdn plc increased its stake in Prudential Financial by 37.5% during the fourth quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock valued at $114,829,000 after purchasing an additional 302,164 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

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.