Prudential Financial (PRU) Upgraded to Outperform at Royal Bank of Canada

Prudential Financial (NYSE:PRU) was upgraded by equities research analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report released on Monday, Marketbeat Ratings reports. The analysts noted that the move was a valuation call.

A number of other research firms have also weighed in on PRU. Wells Fargo & Co set a $122.00 target price on Prudential Financial and gave the company a “hold” rating in a report on Thursday, December 14th. Atlantic Securities raised Prudential Financial from a “neutral” rating to an “overweight” rating in a report on Thursday, January 11th. Morgan Stanley lifted their target price on Prudential Financial from $123.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a report on Monday, November 6th. Finally, Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a report on Monday, January 8th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Prudential Financial has an average rating of “Buy” and an average price target of $119.14.

Shares of Prudential Financial (PRU) traded up $1.82 on Monday, reaching $107.86. The company had a trading volume of 3,455,002 shares, compared to its average volume of 2,283,569. Prudential Financial has a 52 week low of $97.88 and a 52 week high of $127.14. The stock has a market cap of $46,420.00, a price-to-earnings ratio of 6.04, a P/E/G ratio of 1.09 and a beta of 1.49. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.32.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.05. Prudential Financial had a return on equity of 9.29% and a net margin of 13.41%. The company had revenue of $15.25 billion during the quarter, compared to analyst estimates of $12.87 billion. During the same quarter last year, the firm posted $2.46 EPS. sell-side analysts predict that Prudential Financial will post 12.17 EPS for the current year.

Prudential Financial announced that its Board of Directors has initiated a share buyback plan on Thursday, December 14th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

In other 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 sale, the senior vice president now owns 37,327 shares in the company, valued at approximately $4,298,950.59. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy P. Harris sold 10,527 shares of Prudential Financial stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total value of $1,210,605.00. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. BancorpSouth Bank bought a new stake in shares of Prudential Financial during the 4th quarter valued at about $5,882,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Prudential Financial in the 4th quarter worth approximately $105,000. AlphaOne Investment Services LLC lifted its position in Prudential Financial by 69.3% in the 4th quarter. AlphaOne Investment Services LLC now owns 1,422 shares of the financial services provider’s stock worth $164,000 after buying an additional 582 shares during the last quarter. Financial Counselors Inc. lifted its position in Prudential Financial by 2.4% in the 4th quarter. Financial Counselors Inc. now owns 71,786 shares of the financial services provider’s stock worth $8,254,000 after buying an additional 1,688 shares during the last quarter. Finally, Logan Capital Management Inc. bought a new stake in Prudential Financial in the 4th quarter worth approximately $216,000. Hedge funds and other institutional investors own 64.37% of the company’s stock.

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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.

Analyst Recommendations for Prudential Financial (NYSE:PRU)

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