Prudential Financial, Inc. (NYSE:PRU) Given Average Recommendation of “Hold” by Brokerages

Shares of Prudential Financial, Inc. (NYSE:PRU) have been given a consensus rating of “Hold” by the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $126.15.

Several equities research analysts have weighed in on PRU shares. Jefferies Financial Group increased their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. TD Cowen raised their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Barclays boosted their price target on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. Finally, Wells Fargo & Company increased their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the acquisition, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Prudential Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Savant Capital LLC raised its position in shares of Prudential Financial by 0.6% during the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock valued at $1,705,000 after buying an additional 83 shares during the period. Grove Bank & Trust raised its position in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the period. HBK Sorce Advisory LLC lifted its stake in shares of Prudential Financial by 1.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider’s stock valued at $1,116,000 after purchasing an additional 91 shares during the last quarter. Asset Dedication LLC grew its holdings in shares of Prudential Financial by 28.4% during the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 93 shares during the period. Finally, Altman Advisors Inc. raised its holdings in Prudential Financial by 0.6% in the 4th quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider’s stock valued at $1,907,000 after buying an additional 94 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of PRU stock opened at $114.32 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The business has a fifty day moving average of $113.44 and a 200 day moving average of $119.01. The firm has a market capitalization of $40.93 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. Prudential Financial has a 1 year low of $104.45 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, research analysts expect that Prudential Financial will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.72%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is presently 72.29%.

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.