Prudential Financial (NYSE:PRU) Price Target Raised to $133.00

Prudential Financial (NYSE:PRU) had its target price upped by TD Cowen from $130.00 to $133.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. Wells Fargo & Company lifted their price target on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. Bank of America lifted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Morgan Stanley decreased their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, Barclays upped their price target on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $125.92.

Prudential Financial Trading Down 0.1 %

PRU opened at $129.42 on Wednesday. Prudential Financial has a 52 week low of $96.45 and a 52 week high of $130.55. The company has a market capitalization of $46.07 billion, a P/E ratio of 11.50, a PEG ratio of 0.93 and a beta of 1.29. The stock’s fifty day moving average is $124.24 and its two-hundred day moving average is $120.11. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the company posted $3.44 earnings per share. Analysts forecast that Prudential Financial will post 13.35 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.02%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 6.61 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This trade represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its holdings in Prudential Financial by 0.3% during the third quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock worth $2,059,549,000 after buying an additional 49,830 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Prudential Financial by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after acquiring an additional 341,787 shares in the last quarter. Legal & General Group Plc grew its position in shares of Prudential Financial by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after acquiring an additional 305,143 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prudential Financial by 1.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock worth $370,327,000 after purchasing an additional 47,561 shares during the period. Finally, FMR LLC boosted its position in Prudential Financial by 31.3% during the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after purchasing an additional 344,254 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.