Prudential Financial Inc (PRU) Receives Consensus Recommendation of “Buy” from Brokerages
Prudential Financial Inc (NYSE:PRU) has been given an average rating of “Buy” by the eighteen research firms that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $119.35.
PRU has been the topic of a number of research reports. Citigroup upgraded Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective on the stock in a research note on Tuesday, October 17th. Morgan Stanley boosted their price objective on Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Royal Bank of Canada restated a “hold” rating and issued a $119.00 price objective on shares of Prudential Financial in a research note on Friday, November 3rd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $127.00 target price on shares of Prudential Financial in a report on Thursday, December 21st. Finally, Sandler O’Neill reaffirmed a “buy” rating and set a $134.00 target price on shares of Prudential Financial in a report on Thursday.
In other Prudential Financial news, SVP Barbara Koster sold 16,801 shares of Prudential Financial stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total transaction of $1,934,971.17. Following the completion of the transaction, the senior vice president now owns 37,327 shares of the company’s stock, valued at approximately $4,298,950.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas C. Silitch sold 44,860 shares of Prudential Financial stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $111.77, for a total value of $5,014,002.20. Following the transaction, the insider now directly owns 27,927 shares of the company’s stock, valued at approximately $3,121,400.79. The disclosure for this sale can be found here. Insiders have sold a total of 116,818 shares of company stock valued at $13,154,122 in the last ninety days. Insiders own 0.66% of the company’s stock.
Shares of Prudential Financial (PRU) traded up $0.41 during trading on Friday, reaching $124.12. The company had a trading volume of 1,370,000 shares, compared to its average volume of 1,770,000. Prudential Financial has a fifty-two week low of $97.88 and a fifty-two week high of $125.00. The company has a market cap of $53,420.00, a PE ratio of 12.51, a P/E/G ratio of 1.27 and a beta of 1.55. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.30. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. The business had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $12.24 billion. During the same period in the previous year, the business posted $2.66 EPS. research analysts predict that Prudential Financial will post 10.48 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Monday, November 27th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Friday, November 24th. Prudential Financial’s payout ratio is presently 30.24%.
Prudential Financial declared that its board has authorized a share buyback plan on Thursday, December 14th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
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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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