Prudential Financial (NYSE:PRU) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Friday, November 10th.
Several other research analysts have also weighed in on the company. B. Riley reissued a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. Wells Fargo & Company restated a “hold” rating and issued a $120.00 target price (up previously from $114.00) on shares of Prudential Financial in a research note on Wednesday, November 8th. Royal Bank Of Canada restated a “hold” rating and issued a $119.00 target price on shares of Prudential Financial in a research note on Friday, November 3rd. Morgan Stanley boosted their target price on Prudential Financial from $123.00 to $124.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Finally, Goldman Sachs Group assumed coverage on Prudential Financial in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $114.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $115.64.
Prudential Financial (NYSE PRU) traded up $3.04 during trading hours on Friday, reaching $115.87. The company had a trading volume of 2,743,100 shares, compared to its average volume of 1,848,522. Prudential Financial has a twelve month low of $97.88 and a twelve month high of $117.08. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34. The firm has a market cap of $48,560.00, a price-to-earnings ratio of 10.52, a P/E/G ratio of 1.23 and a beta of 1.56.
In related news, insider Nicholas C. Silitch sold 44,860 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the sale, the insider now directly owns 27,927 shares in the company, valued at approximately $3,121,400.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Charles F. Lowrey sold 44,630 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total value of $4,994,543.30. Following the completion of the transaction, the executive vice president now owns 79,354 shares in the company, valued at $8,880,506.14. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
Several large investors have recently bought and sold shares of PRU. APG Asset Management N.V. raised its stake in Prudential Financial by 171.8% during the 3rd quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock worth $287,566,000 after buying an additional 1,709,699 shares during the period. Janus Henderson Group PLC raised its stake in shares of Prudential Financial by 1,997.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,204,160 shares of the financial services provider’s stock valued at $130,218,000 after purchasing an additional 1,146,739 shares during the period. BlackRock Inc. raised its stake in shares of Prudential Financial by 2.9% in the 2nd quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock valued at $3,585,415,000 after purchasing an additional 934,352 shares during the period. AJO LP raised its stake in shares of Prudential Financial by 42.8% in the 2nd quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock valued at $296,672,000 after purchasing an additional 821,881 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Prudential Financial by 48.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,247,204 shares of the financial services provider’s stock valued at $243,013,000 after purchasing an additional 737,458 shares during the period. Institutional investors and hedge funds own 64.68% of the company’s stock.
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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.
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