Prudential Financial Inc. (PRU) Lowered to “Market Perform” at FBR & Co
Prudential Financial Inc. (NYSE:PRU) was downgraded by FBR & Co from an “outperform” rating to a “market perform” rating in a report released on Tuesday. They presently have a $86.00 target price on the stock. FBR & Co’s price target would indicate a potential upside of 1.76% from the stock’s previous close. The analysts noted that the move was a valuation call.
PRU has been the topic of a number of other research reports. 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 target on the stock. Citigroup Inc. decreased their price target on shares of Prudential Financial from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. Deutsche Bank AG decreased their price target on shares of Prudential Financial from $90.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. Finally, Bank of America Corp. cut shares of Prudential Financial from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $89.13.
Shares of Prudential Financial (NYSE:PRU) traded up 0.030% during trading on Tuesday, hitting $84.535. 319,903 shares of the stock were exchanged. Prudential Financial has a 52 week low of $57.19 and a 52 week high of $88.77. The firm has a market capitalization of $36.94 billion, a price-to-earnings ratio of 8.685 and a beta of 1.68. The stock’s 50 day moving average price is $81.09 and its 200 day moving average price is $76.73.
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Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $1.84 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 in the prior year, the business posted $2.91 earnings per share. On average, equities analysts predict that Prudential Financial will post ($0.01) earnings per share for the current year.
In related news, insider Charles F. Lowrey sold 41,644 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $80.00, for a total value of $3,331,520.00. Following the completion of the transaction, the insider now directly owns 98,307 shares in the company, valued at approximately $7,864,560. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Falzon sold 33,820 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $77.13, for a total transaction of $2,608,536.60. Following the completion of the transaction, the chief financial officer now owns 70,264 shares of the company’s stock, valued at $5,419,462.32. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of PRU. Americafirst Capital Management LLC purchased a new stake in Prudential Financial during the second quarter worth $100,000. Bessemer Group Inc. raised its stake in Prudential Financial by 6.7% in the second quarter. Bessemer Group Inc. now owns 1,516 shares of the company’s stock worth $108,000 after buying an additional 95 shares in the last quarter. Gierl Augustine Investment Management Inc raised its stake in Prudential Financial by 14.4% in the second quarter. Gierl Augustine Investment Management Inc now owns 1,632 shares of the company’s stock worth $116,000 after buying an additional 206 shares in the last quarter. Cantab Capital Partners LLP purchased a new stake in Prudential Financial during the second quarter worth $132,000. Finally, Seven Eight Capital LLC raised its stake in Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock worth $155,000 after buying an additional 1,900 shares in the last quarter. Institutional investors own 60.58% of the company’s stock.
About Prudential Financial
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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