Vetr upgraded shares of Prudential Financial Inc (NYSE:PRU) from a hold rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $109.90 target price on the stock.
A number of other analysts have also recently commented on PRU. Zacks Investment Research cut shares of Prudential Financial from a buy rating to a hold rating in a research note on Monday, November 28th. FBR & Co lowered their target price on shares of Prudential Financial from $100.00 to $86.00 and set a mkt perform rating for the company in a research note on Monday, November 28th. Bank of America Corp upgraded shares of Prudential Financial from an underperform rating to a buy rating in a research note on Wednesday, December 7th. Morgan Stanley cut shares of Prudential Financial from an overweight rating to an equal weight rating and lifted their target price for the stock from $109.00 to $110.00 in a research note on Wednesday, December 14th. They noted that the move was a valuation call. Finally, Barclays PLC reiterated a buy rating and issued a $117.00 target price on shares of Prudential Financial in a research note on Monday, January 9th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Prudential Financial has an average rating of Hold and an average price target of $103.16.
Shares of Prudential Financial (NYSE:PRU) opened at 104.50 on Wednesday. The stock has a market capitalization of $44.94 billion, a PE ratio of 10.76 and a beta of 1.69. The stock has a 50 day moving average of $109.72 and a 200-day moving average of $98.54. Prudential Financial has a 52 week low of $66.51 and a 52 week high of $114.55.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, February 8th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.14. Prudential Financial had a net margin of 7.63% and a return on equity of 7.96%. During the same period in the previous year, the company posted $1.94 EPS. On average, equities research analysts expect that Prudential Financial will post $10.43 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 16th. Shareholders of record on Wednesday, February 22nd were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.87%. This is a boost from Prudential Financial’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 17th. Prudential Financial’s payout ratio is presently 28.90%.
In other Prudential Financial news, Director Michael Todman acquired 450 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was acquired at an average cost of $111.11 per share, for a total transaction of $49,999.50. Following the purchase, the director now owns 450 shares in the company, valued at approximately $49,999.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director George Paz acquired 500 shares of the firm’s stock in a transaction on Thursday, February 23rd. The shares were acquired at an average price of $110.73 per share, with a total value of $55,365.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at approximately $55,365. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Prudential Financial by 10.8% in the fourth quarter. State Street Corp now owns 20,235,854 shares of the company’s stock valued at $2,105,741,000 after buying an additional 1,966,517 shares during the last quarter. Norges Bank acquired a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $1,835,418,000. Capital Research Global Investors acquired a new stake in shares of Prudential Financial during the third quarter valued at approximately $425,473,000. BlackRock Fund Advisors boosted its stake in shares of Prudential Financial by 4.7% in the third quarter. BlackRock Fund Advisors now owns 5,168,580 shares of the company’s stock valued at $422,015,000 after buying an additional 234,348 shares during the last quarter. Finally, APG Asset Management N.V. boosted its stake in shares of Prudential Financial by 51.2% in the third quarter. APG Asset Management N.V. now owns 2,071,032 shares of the company’s stock valued at $169,100,000 after buying an additional 701,526 shares during the last quarter. Institutional investors and hedge funds own 60.91% of the company’s stock.
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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