Prudential Financial (PRU) Stock Rating Lowered by ValuEngine

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.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.30. The company had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same quarter in the previous year, the business earned $2.66 EPS. sell-side analysts forecast that Prudential Financial will post 10.38 EPS for the current fiscal year.

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.

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

Analyst Recommendations for Prudential Financial (NYSE:PRU)

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