Prudential Financial, Inc. (PRU) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Prudential Financial, Inc. (NYSE:PRU) have received an average recommendation of “Buy” from the seventeen ratings firms that are presently covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $108.17.
Several brokerages have recently issued reports on PRU. Deutsche Bank AG boosted their price target on shares of Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Zacks Investment Research downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. JPMorgan Chase & Co. boosted their price target on shares of Prudential Financial from $108.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, April 3rd. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a report on Tuesday, June 6th. Finally, Credit Suisse Group reduced their price target on shares of Prudential Financial from $121.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, May 23rd.
Shares of Prudential Financial (NYSE PRU) traded up 0.30% during midday trading on Monday, hitting $103.67. 2,149,314 shares of the company’s stock were exchanged. Prudential Financial has a 1-year low of $66.51 and a 1-year high of $114.55. The stock has a market cap of $44.47 billion, a PE ratio of 10.52 and a beta of 1.49. The stock’s 50 day moving average is $106.54 and its 200-day moving average is $106.89.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.15. Prudential Financial had a net margin of 7.78% and a return on equity of 8.52%. The company had revenue of $13.24 billion during the quarter, compared to the consensus estimate of $12.75 billion. During the same quarter in the previous year, the company posted $2.18 earnings per share. Analysts predict that Prudential Financial will post $10.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Tuesday, May 23rd were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Friday, May 19th. Prudential Financial’s payout ratio is 30.46%.
In other Prudential Financial news, insider Charles F. Lowrey sold 222,857 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $108.04, for a total value of $24,077,470.28. Following the completion of the sale, the insider now directly owns 151,418 shares of the company’s stock, valued at approximately $16,359,200.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. BKD Wealth Advisors LLC increased its stake in shares of Prudential Financial by 51.4% in the first quarter. BKD Wealth Advisors LLC now owns 4,030 shares of the financial services provider’s stock worth $430,000 after buying an additional 1,369 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Prudential Financial by 4.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,171 shares of the financial services provider’s stock worth $1,684,000 after buying an additional 625 shares during the last quarter. Osborn Williams & Donohoe LLC increased its stake in shares of Prudential Financial by 0.5% in the first quarter. Osborn Williams & Donohoe LLC now owns 21,187 shares of the financial services provider’s stock worth $2,260,000 after buying an additional 99 shares during the last quarter. BLB&B Advisors LLC increased its stake in shares of Prudential Financial by 7.3% in the first quarter. BLB&B Advisors LLC now owns 2,192 shares of the financial services provider’s stock worth $234,000 after buying an additional 150 shares during the last quarter. Finally, Vicus Capital acquired a new stake in shares of Prudential Financial during the first quarter worth $235,000. 62.99% of the stock is owned by institutional investors.
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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.
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