Prudential Financial (NYSE:PRU) Price Target Raised to $114.00

Prudential Financial (NYSE:PRU) had its target price upped by TD Cowen from $102.00 to $114.00 in a research note issued to investors on Wednesday,Benzinga reports. TD Cowen currently has a hold rating on the financial services provider’s stock.

Several other equities research analysts also recently commented on PRU. Jefferies Financial Group upped their target price on Prudential Financial from $105.00 to $110.00 and gave the company a “hold” rating in a report on Friday, July 10th. Barclays raised their target price on Prudential Financial from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Wells Fargo & Company increased their price target on shares of Prudential Financial from $100.00 to $103.00 and gave the stock an “underweight” rating in a research report on Thursday, July 9th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $92.00 price objective (down from $106.00) on shares of Prudential Financial in a research report on Monday, May 4th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $105.46.

Prudential Financial Stock Performance

PRU opened at $119.83 on Wednesday. Prudential Financial has a 1-year low of $91.89 and a 1-year high of $120.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The business has a 50 day moving average price of $108.91 and a two-hundred day moving average price of $104.36. The company has a market capitalization of $41.58 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 2.35 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The business had revenue of $15.23 billion during the quarter, compared to analysts’ expectations of $14.10 billion. During the same quarter last year, the business posted $3.29 earnings per share. Research analysts predict that Prudential Financial will post 13.75 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s payout ratio is currently 57.61%.

Institutional Investors Weigh In On Prudential Financial

Several institutional investors and hedge funds have recently modified their holdings of PRU. Jessup Wealth Management Inc bought a new position in Prudential Financial during the fourth quarter valued at about $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Prudential Financial during the 4th quarter worth about $26,000. Salomon & Ludwin LLC increased its holdings in shares of Prudential Financial by 98.3% during the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 114 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Prudential Financial by 93.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 134 shares in the last quarter. Finally, Lodestone Wealth Management LLC acquired a new stake in Prudential Financial in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.