Prudential Financial, Inc. (PRU) Earns Hold Rating from Royal Bank Of Canada

Royal Bank Of Canada restated their hold rating on shares of Prudential Financial, Inc. (NYSE:PRU) in a research note released on Wednesday, September 6th. The firm currently has a $117.00 price objective on the financial services provider’s stock.

Several other equities analysts also recently weighed in on PRU. ValuEngine raised Prudential Financial from a buy rating to a strong-buy rating in a research report on Friday, June 2nd. BidaskClub downgraded Prudential Financial from a buy rating to a hold rating in a research report on Wednesday, July 19th. Wells Fargo & Company reissued a hold rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Keefe, Bruyette & Woods restated a buy rating on shares of Prudential Financial in a report on Friday, August 11th. Finally, Credit Suisse Group decreased their price objective on Prudential Financial from $121.00 to $120.00 and set a neutral rating on the stock in a report on Tuesday, May 23rd. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $111.49.

Prudential Financial (NYSE:PRU) traded up 0.79% on Wednesday, reaching $102.78. The company’s stock had a trading volume of 2,944,469 shares. Prudential Financial has a 12-month low of $78.50 and a 12-month high of $115.26. The firm has a 50-day moving average of $105.02 and a 200 day moving average of $107.08. The company has a market capitalization of $43.89 billion, a price-to-earnings ratio of 11.47 and a beta of 1.49.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.61). Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The business had revenue of $13.03 billion for the quarter, compared to analysts’ expectations of $12.45 billion. During the same period last year, the company posted $1.84 earnings per share. On average, equities research analysts anticipate that Prudential Financial will post $10.14 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $3.00 annualized dividend and a dividend yield of 2.92%. Prudential Financial’s dividend payout ratio is presently 33.63%.

In other Prudential Financial news, insider Nicholas C. Silitch sold 14,897 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the transaction, the insider now owns 21,274 shares of the company’s stock, valued at $2,340,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Pelletier sold 4,133 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the completion of the transaction, the insider now directly owns 10,924 shares in the company, valued at approximately $1,225,454.32. The disclosure for this sale can be found here. Insiders sold 220,615 shares of company stock valued at $24,276,660 over the last 90 days. 0.66% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Guardian Life Insurance Co. of America increased its stake in shares of Prudential Financial by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 5 shares during the last quarter. Green Square Capital LLC boosted its holdings in Prudential Financial by 0.3% in the second quarter. Green Square Capital LLC now owns 2,065 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 7 shares in the last quarter. Hudock Capital Group LLC boosted its holdings in Prudential Financial by 0.7% in the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 8 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in Prudential Financial by 0.9% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,018 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 18 shares in the last quarter. Finally, Trust Co boosted its holdings in Prudential Financial by 1.0% in the first quarter. Trust Co now owns 2,024 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 20 shares in the last quarter. 64.46% of the stock is currently owned by institutional investors and hedge funds.

About Prudential Financial

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

Analyst Recommendations for Prudential Financial (NYSE:PRU)

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