Prudential Financial, Inc. (NYSE:PRU) Given Average Rating of “Reduce” by Brokerages

Prudential Financial, Inc. (NYSE:PRU) has been assigned a consensus rating of “Reduce” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and nine have assigned a hold recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $113.8889.

Several research firms have recently weighed in on PRU. UBS Group raised their price objective on shares of Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Barclays decreased their price target on Prudential Financial from $124.00 to $119.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 11th. Evercore reiterated a “negative” rating on shares of Prudential Financial in a research report on Friday, March 6th. Keefe, Bruyette & Woods assumed coverage on Prudential Financial in a research note on Thursday, March 26th. They issued a “hold” rating and a $106.00 price objective on the stock. Finally, Wells Fargo & Company cut Prudential Financial from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $115.00 to $103.00 in a report on Wednesday, February 25th.

Prudential Financial Stock Up 1.2%

PRU opened at $94.41 on Tuesday. The firm has a market cap of $32.85 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 1.15 and a beta of 0.98. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The firm’s 50-day simple moving average is $100.81 and its 200-day simple moving average is $105.50. Prudential Financial has a twelve month low of $90.38 and a twelve month high of $119.76.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.07). The firm had revenue of $14.52 billion for the quarter, compared to the consensus estimate of $14.48 billion. Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. During the same period in the prior year, the business earned $2.96 earnings per share. Equities research analysts anticipate that Prudential Financial will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $5.60 dividend on an annualized basis and a yield of 5.9%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s payout ratio is currently 56.00%.

Insider Activity at Prudential Financial

In related news, Director Thomas D. Stoddard purchased 250 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average cost of $102.97 per share, with a total value of $25,742.50. Following the completion of the purchase, the director directly owned 250 shares of the company’s stock, valued at $25,742.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph J. Wolk purchased 400 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was bought at an average cost of $105.32 per share, with a total value of $42,128.00. Following the acquisition, the director owned 400 shares of the company’s stock, valued at $42,128. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 1,408,389 shares of company stock worth $35,154,439. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jessup Wealth Management Inc bought a new stake in shares of Prudential Financial during the fourth quarter worth $25,000. Garton & Associates Financial Advisors LLC bought a new position in Prudential Financial in the fourth quarter valued at about $26,000. Salomon & Ludwin LLC increased its position in Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 114 shares during the period. Lodestone Wealth Management LLC bought a new stake in Prudential Financial during the 4th quarter worth about $28,000. Finally, Coston McIsaac & Partners lifted its position in Prudential Financial by 93.4% during the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 128 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.