Prudential Financial, Inc. (NYSE:PRU) Receives $122.08 Average PT from Brokerages

Prudential Financial, Inc. (NYSE:PRU) has been given an average recommendation of “Hold” by the twelve analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $122.2727.

A number of brokerages recently commented on PRU. Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. Morgan Stanley increased their price target on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Wolfe Research initiated coverage on Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. Piper Sandler decreased their price target on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, July 16th. Finally, Barclays decreased their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th.

Insider Activity

In related news, EVP Ann M. Kappler sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the transaction, the executive vice president owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Prudential Financial during the second quarter valued at $122,778,000. Nuveen LLC purchased a new stake in shares of Prudential Financial during the first quarter valued at $90,010,000. Goldman Sachs Group Inc. lifted its holdings in shares of Prudential Financial by 19.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock valued at $469,777,000 after purchasing an additional 678,028 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Prudential Financial by 1.4% during the second quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock valued at $4,566,432,000 after purchasing an additional 600,482 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Prudential Financial by 49.2% during the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after purchasing an additional 567,571 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU opened at $101.22 on Tuesday. The company has a market cap of $35.63 billion, a P/E ratio of 22.44, a PEG ratio of 0.88 and a beta of 1.04. The stock has a fifty day moving average price of $105.14 and a 200 day moving average price of $104.34. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial has a 12 month low of $90.38 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The firm had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. On average, research analysts forecast that Prudential Financial will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.3%. Prudential Financial’s dividend payout ratio is presently 119.73%.

About Prudential Financial

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.