Prudential Financial, Inc. (PRU) Given Average Recommendation of “Buy” by Analysts
Prudential Financial, Inc. (NYSE:PRU) has been given a consensus recommendation of “Buy” by the eighteen analysts that are currently covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $110.99.
PRU has been the subject of several research reports. J P Morgan Chase & Co lifted their price target on Prudential Financial from $108.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, April 3rd. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a report on Tuesday, April 18th. Deutsche Bank AG lifted their price target on Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Credit Suisse Group reiterated a “hold” rating and set a $121.00 price target on shares of Prudential Financial in a report on Thursday, April 27th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a report on Thursday, May 4th.
In other Prudential Financial news, insider Charles F. Lowrey sold 222,857 shares of Prudential Financial stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $108.04, for a total value of $24,077,470.28. Following the transaction, 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 document filed with the SEC, which is accessible through this link. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of Prudential Financial stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $110.00, for a total value of $22,174,350.00. Following the completion of the transaction, the chairman now directly owns 456,121 shares in the company, valued at $50,173,310. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Adirondack Trust Co. increased its position in shares of Prudential Financial by 7.6% in the first quarter. Adirondack Trust Co. now owns 1,133 shares of the financial services provider’s stock valued at $121,000 after buying an additional 80 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Prudential Financial by 11.1% in the first quarter. Quadrant Capital Group LLC now owns 1,376 shares of the financial services provider’s stock valued at $139,000 after buying an additional 137 shares in the last quarter. First Personal Financial Services increased its position in shares of Prudential Financial by 3.4% in the first quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock valued at $150,000 after buying an additional 46 shares in the last quarter. Guardian Life Insurance Co. of America increased its position in shares of Prudential Financial by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock valued at $177,000 after buying an additional 5 shares in the last quarter. Finally, Trust Co. of Vermont increased its position in shares of Prudential Financial by 28.5% in the second quarter. Trust Co. of Vermont now owns 1,711 shares of the financial services provider’s stock valued at $185,000 after buying an additional 380 shares in the last quarter. 63.17% of the stock is currently owned by institutional investors.
Prudential Financial (PRU) traded up 0.61% during mid-day trading on Friday, reaching $111.74. 1,357,843 shares of the company were exchanged. The stock’s 50-day moving average is $108.06 and its 200-day moving average is $107.41. Prudential Financial has a 12 month low of $72.25 and a 12 month high of $114.55. The company has a market cap of $47.94 billion, a P/E ratio of 11.34 and a beta of 1.49.
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 Thomson Reuters’ consensus estimate of $2.64 by $0.15. The business had revenue of $13.24 billion during the quarter, compared to analyst estimates of $12.75 billion. Prudential Financial had a return on equity of 8.52% and a net margin of 7.78%. During the same period in the previous year, the company earned $2.18 EPS. Equities analysts expect that Prudential Financial will post $10.67 earnings per share for the current year.
Prudential Financial Company Profile
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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