Prudential Financial, Inc. (PRU) Given Average Rating of “Buy” by Brokerages
Shares of Prudential Financial, Inc. (NYSE:PRU) have earned a consensus rating of “Buy” from the sixteen ratings firms that are presently covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $112.59.
PRU has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed a “hold” rating and set a $117.00 price objective on shares of Prudential Financial in a research note on Wednesday, September 6th. BidaskClub downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th.
In related news, insider Nicholas C. Silitch sold 14,897 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total value of $1,638,670.00. Following the sale, the insider now owns 21,274 shares of the company’s stock, valued at $2,340,140. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $112.18, for a total transaction of $463,639.94. Following the completion of the sale, the insider now directly owns 10,924 shares in the company, valued at approximately $1,225,454.32. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of PRU. Hillsdale Investment Management Inc. boosted its position in shares of Prudential Financial by 20.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 3,260 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 560 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Prudential Financial by 76.0% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 86,921 shares of the financial services provider’s stock worth $9,273,000 after purchasing an additional 37,545 shares in the last quarter. Tiedemann Wealth Management LLC bought a new position in shares of Prudential Financial during the 1st quarter worth about $674,000. First National Trust Co. boosted its position in shares of Prudential Financial by 8.5% during the 1st quarter. First National Trust Co. now owns 35,696 shares of the financial services provider’s stock worth $3,808,000 after purchasing an additional 2,811 shares in the last quarter. Finally, Bahl & Gaynor Inc. boosted its position in shares of Prudential Financial by 2.2% during the 1st quarter. Bahl & Gaynor Inc. now owns 4,005 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 86 shares in the last quarter. 64.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of Prudential Financial (NYSE PRU) traded up 0.01% during mid-day trading on Wednesday, reaching $107.85. 1,116,950 shares of the company traded hands. The company’s 50 day moving average is $103.24 and its 200 day moving average is $106.51. Prudential Financial has a 52-week low of $82.45 and a 52-week high of $115.26. The stock has a market capitalization of $46.05 billion, a price-to-earnings ratio of 12.04 and a beta of 1.51.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($0.61). The firm had revenue of $13.03 billion during the quarter, compared to the consensus estimate of $12.45 billion. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. During the same quarter in the previous year, the business posted $1.84 earnings per share. On average, equities analysts forecast that Prudential Financial will post $10.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Friday, August 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 33.63%.
ILLEGAL ACTIVITY WARNING: This news story was first reported by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/04/prudential-financial-inc-pru-given-average-rating-of-buy-by-brokerages.html.
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.
Receive News & Ratings for Prudential Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.