ValuEngine Downgrades Prudential Financial, Inc. (PRU) to Buy

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Prudential Financial (NYSE:PRU)

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