PRU has been the topic of a number of other reports. Goldman Sachs Group Inc. upgraded shares of Prudential Financial from a neutral rating to a buy rating and upped their target price for the stock from $80.00 to $93.00 in a research report on Friday, September 23rd. Zacks Investment Research lowered shares of Prudential Financial from a hold rating to a sell rating in a research report on Tuesday, June 21st. Citigroup Inc. reduced their target price on shares of Prudential Financial from $83.00 to $80.00 and set a buy rating on the stock in a research report on Thursday, July 7th. Evercore ISI began coverage on shares of Prudential Financial in a report on Wednesday, July 6th. They issued a hold rating and a $78.00 price objective on the stock. Finally, Bank of America Corp. lowered shares of Prudential Financial from a neutral rating to an underperform rating in a report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Prudential Financial currently has a consensus rating of Buy and a consensus target price of $89.33.
Shares of Prudential Financial (NYSE:PRU) opened at 80.66 on Friday. The company has a market cap of $35.25 billion, a PE ratio of 8.29 and a beta of 1.62. Prudential Financial has a one year low of $57.19 and a one year high of $88.77. The company’s 50-day moving average price is $78.37 and its 200 day moving average price is $75.69.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share (EPS) for the quarter, missing the Zacks’ 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 quarter last year, the business earned $2.91 EPS. Equities analysts forecast that Prudential Financial will post ($0.01) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Friday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 28.78%.
In related news, insider Stephen Pelletier sold 4,470 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $76.36, for a total value of $341,329.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles F. Lowrey sold 41,644 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $80.00, for a total transaction of $3,331,520.00. Following the completion of the transaction, the insider now directly owns 98,307 shares of the company’s stock, valued at approximately $7,864,560. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRU. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Prudential Financial during the second quarter worth approximately $1,273,000. Kentucky Retirement Systems purchased a new stake in shares of Prudential Financial during the second quarter worth approximately $2,681,000. Mason Street Advisors LLC purchased a new stake in shares of Prudential Financial during the second quarter worth approximately $4,247,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Prudential Financial by 3.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,479 shares of the company’s stock worth $534,000 after buying an additional 249 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Prudential Financial during the second quarter worth approximately $257,000. 60.62% 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 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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