ValuEngine cut shares of Prudential Financial, Inc. (NYSE:PRU) from a strong-buy rating to a buy rating in a research note issued to investors on Friday morning.
Several other equities research analysts have also commented on PRU. Royal Bank Of Canada restated a hold rating and issued a $119.00 price objective on shares of Prudential Financial in a research note on Friday, November 3rd. Morgan Stanley upped their price objective on Prudential Financial from $123.00 to $124.00 and gave the stock an equal weight rating in a research note on Thursday, November 2nd. Goldman Sachs Group, Inc. (The) began coverage on Prudential Financial in a research note on Wednesday, October 18th. They issued a neutral rating and a $114.00 price objective for the company. Citigroup Inc. upgraded Prudential Financial from a neutral rating to a buy rating and set a $103.00 price objective for the company in a research note on Tuesday, October 17th. Finally, BidaskClub lowered Prudential Financial from a buy rating to a hold rating in a research note on Wednesday, July 19th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $115.13.
Shares of Prudential Financial (NYSE PRU) opened at $110.44 on Friday. The firm has a market cap of $46,945.28, a price-to-earnings ratio of 10.70, a price-to-earnings-growth ratio of 1.25 and a beta of 1.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial has a 12 month low of $95.95 and a 12 month high of $115.26.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.30. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. During the same period in the previous year, the business earned $2.66 EPS. equities research analysts predict that Prudential Financial will post 10.38 earnings per share for the current year.
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In other Prudential Financial news, insider Nicholas C. Silitch sold 44,860 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the transaction, the insider now owns 27,927 shares of the company’s stock, valued at approximately $3,121,400.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles F. Lowrey sold 44,630 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the transaction, the executive vice president now directly owns 79,354 shares of the company’s stock, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fieldpoint Private Securities LLC bought a new position in shares of Prudential Financial in the 2nd quarter valued at about $103,000. Grove Bank & Trust lifted its holdings in shares of Prudential Financial by 507.0% in the 3rd quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 943 shares during the last quarter. Hudock Capital Group LLC lifted its holdings in shares of Prudential Financial by 0.7% in the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 8 shares during the last quarter. Legacy Advisors LLC bought a new position in shares of Prudential Financial in the 3rd quarter valued at about $129,000. Finally, Accurate Investment Solutions Inc. lifted its holdings in shares of Prudential Financial by 2.3% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock valued at $180,000 after acquiring an additional 38 shares during the last quarter. 64.48% of the stock is owned by institutional investors and hedge funds.
Prudential Financial Company Profile
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.
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