Credit Suisse Group AG assumed coverage on shares of Prudential Financial Inc. (NYSE:PRU) in a report published on Friday morning. The brokerage issued a neutral rating and a $89.00 target price on the stock.
Several other brokerages also recently commented on PRU. Wells Fargo & Co. began coverage on Prudential Financial in a research note on Friday, September 23rd. They issued a market perform rating for the company. Goldman Sachs Group Inc. raised Prudential Financial from a neutral rating to a buy rating and increased their price target for the company from $80.00 to $93.00 in a research report on Friday, September 23rd. Zacks Investment Research downgraded Prudential Financial from a hold rating to a sell rating in a research report on Tuesday, June 21st. Deutsche Bank AG decreased their price target on Prudential Financial from $90.00 to $83.00 and set a buy rating for the company in a research report on Thursday, July 7th. Finally, Citigroup Inc. decreased their price target on Prudential Financial from $83.00 to $80.00 and set a buy rating for the company in a research report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $89.13.
Prudential Financial (NYSE:PRU) traded up 0.41% on Friday, hitting $84.88. The company’s stock had a trading volume of 1,239,511 shares. The stock has a market cap of $37.09 billion, a PE ratio of 8.72 and a beta of 1.68. The firm has a 50 day moving average of $79.77 and a 200-day moving average of $76.18. Prudential Financial has a 12 month low of $57.19 and a 12 month high of $88.77.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $1.84 EPS for the quarter, missing the consensus estimate of $2.51 by $0.67. Prudential Financial had a return on equity of 8.11% and a net margin of 8.90%. During the same period in the previous year, the company earned $2.91 earnings per share. On average, analysts expect that Prudential Financial will post ($0.01) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, August 19th. This represents a $2.80 dividend on an annualized basis and a yield of 3.31%. Prudential Financial’s payout ratio is 28.78%.
In other Prudential Financial news, insider Stephen Pelletier sold 4,470 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $76.36, for a total transaction of $341,329.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy P. Harris sold 6,531 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $85.00, for a total value of $555,135.00. Following the sale, the executive vice president now owns 20,924 shares in the company, valued at approximately $1,778,540. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Foundry Partners LLC increased its stake in Prudential Financial by 9.3% in the third quarter. Foundry Partners LLC now owns 102,000 shares of the company’s stock worth $8,328,000 after buying an additional 8,715 shares during the last quarter. First American Trust FSB increased its stake in Prudential Financial by 42.6% in the third quarter. First American Trust FSB now owns 32,637 shares of the company’s stock worth $2,665,000 after buying an additional 9,753 shares during the last quarter. Beacon Financial Group increased its stake in Prudential Financial by 7.7% in the third quarter. Beacon Financial Group now owns 9,831 shares of the company’s stock worth $786,000 after buying an additional 700 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Prudential Financial during the second quarter worth $1,273,000. Finally, Kentucky Retirement Systems purchased a new stake in Prudential Financial during the second quarter worth $2,681,000. Institutional investors and hedge funds own 60.62% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.
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