Prudential Financial’s (PRU) “Hold” Rating Reiterated at Royal Bank Of Canada
Prudential Financial, Inc. (NYSE:PRU)‘s stock had its “hold” rating reissued by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday. They currently have a $119.00 price objective on the financial services provider’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 6.40% from the company’s previous close.
PRU has been the subject of a number of other reports. Citigroup Inc upgraded Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Tuesday, October 17th. Goldman Sachs Group, Inc. (The) assumed coverage on Prudential Financial in a research report on Wednesday, October 18th. They issued a “neutral” rating and a $114.00 price target for the company. BidaskClub lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. FBR & Co upgraded Prudential Financial from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $117.00 to $100.00 in a research report on Tuesday, October 10th. Finally, Morgan Stanley increased their price objective on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $114.78.
Prudential Financial (NYSE:PRU) traded down $1.00 during mid-day trading on Friday, hitting $111.84. The stock had a trading volume of 1,990,000 shares, compared to its average volume of 1,520,000. The company has a quick ratio of 0.13, a current ratio of 0.16 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $48,130.00, a price-to-earnings ratio of 10.91, a PEG ratio of 1.30 and a beta of 1.56. Prudential Financial has a 1-year low of $85.36 and a 1-year high of $115.26.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.30. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a return on equity of 9.20% and a net margin of 7.71%. During the same period in the prior year, the business earned $2.66 earnings per share. equities research analysts forecast that Prudential Financial will post 10.25 earnings per share for the current fiscal year.
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In other news, insider Nicholas C. Silitch sold 14,897 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the sale, the insider now directly owns 21,274 shares in the company, valued at $2,340,140. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Pelletier sold 4,133 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the completion of the sale, the insider now owns 10,924 shares in the company, valued at $1,225,454.32. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fieldpoint Private Securities LLC acquired a new stake in shares of Prudential Financial in the second quarter valued at $103,000. Adirondack Trust Co. raised its stake 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 acquiring an additional 80 shares in the last quarter. Hudock Capital Group LLC raised its stake in shares of Prudential Financial by 0.7% in the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 8 shares in the last quarter. Norway Savings Bank acquired a new stake in shares of Prudential Financial in the fourth quarter valued at $120,000. Finally, Legacy Advisors LLC acquired a new stake in shares of Prudential Financial in the third quarter valued at $129,000. Institutional investors and hedge funds own 64.88% of the company’s stock.
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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