Prudential Financial, Inc. (PRU) Stock Rating Upgraded by Zacks Investment Research
Prudential Financial, Inc. (NYSE:PRU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $122.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.87% from the company’s current price.
According to Zacks, “Shares of the company outperformed the industry in a year’s time. Moreover, the company saw its 2017 and 2018 estimates move north in the last 60 days. Prudential Financial remains well poised for growth on the back of its high performing asset management business, international operations and deeper reach in the pension risk transfer market. It strives to build leadership position in the pension risk transfer market. Expanded international presence provides it with better organic growth opportunities than peers. Also, a strong balance sheet and efficient capital management are tailwinds. It now expects ROE between 12% and 13% in the near to intermediate-term. However, exposure to low interest rates, unfavorable currency impact and regulatory control remain headwinds.”
Several other analysts have also recently weighed in on the company. BidaskClub cut Prudential Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $117.00 price target on shares of Prudential Financial in a report on Wednesday, September 6th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a report on Friday, August 11th. Finally, FBR & Co raised Prudential Financial from a “neutral” rating to a “buy” rating and lowered their price target for the company from $117.00 to $100.00 in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Prudential Financial currently has an average rating of “Buy” and a consensus target price of $114.30.
Prudential Financial (NYSE:PRU) traded up 0.82% on Tuesday, reaching $109.95. The company had a trading volume of 1,209,626 shares. The stock has a market capitalization of $46.95 billion, a P/E ratio of 12.28 and a beta of 1.51. Prudential Financial has a 12-month low of $82.45 and a 12-month high of $115.26. The stock’s 50-day moving average price is $103.80 and its 200-day moving average price is $106.58.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the consensus estimate of $2.70 by ($0.61). Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The company had revenue of $13.03 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the prior year, the business earned $1.84 EPS. On average, equities research analysts anticipate that Prudential Financial will post $10.17 EPS for the current fiscal year.
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In related news, insider Nicholas C. Silitch sold 14,897 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the transaction, the insider now directly owns 21,274 shares of the company’s stock, valued at approximately $2,340,140. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen Pelletier sold 4,133 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the transaction, the insider now directly owns 10,924 shares in the company, valued at $1,225,454.32. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fieldpoint Private Securities LLC purchased a new position in shares of Prudential Financial during the 2nd quarter valued at about $103,000. Hudock Capital Group LLC increased its stake in Prudential Financial by 0.7% in the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 8 shares during the period. Guardian Life Insurance Co. of America increased its stake in Prudential Financial by 0.3% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 5 shares during the period. Accurate Investment Solutions Inc. increased its stake in Prudential Financial by 2.3% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 38 shares during the period. Finally, Advisory Services Network LLC increased its stake in Prudential Financial by 128.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 957 shares during the period. 64.45% of the stock is currently owned by institutional investors.
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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