Prudential Financial, Inc. (NYSE:PRU) Receives Consensus Recommendation of “Hold” from Brokerages

Prudential Financial, Inc. (NYSE:PRU – Get Rating) has been assigned an average rating of “Hold” from the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $114.46.

Several analysts recently issued reports on PRU shares. Morgan Stanley increased their target price on Prudential Financial from $114.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 22nd. Piper Sandler increased their target price on Prudential Financial from $118.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 6th. JPMorgan Chase & Co. increased their target price on Prudential Financial from $113.00 to $120.00 in a research report on Tuesday, April 5th. StockNews.com started coverage on Prudential Financial in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Barclays raised their price target on Prudential Financial from $114.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday, January 11th.

In other Prudential Financial news, SVP Timothy L. Schmidt sold 14,713 shares of Prudential Financial stock in a transaction on Monday, February 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,765,560.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 18,320 shares of Prudential Financial stock in a transaction on Tuesday, February 8th. The shares were sold at an average price of $121.47, for a total value of $2,225,330.40. The disclosure for this sale can be found here. Insiders have sold a total of 81,975 shares of company stock valued at $9,821,709 over the last three months. 0.31% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. raised its position in Prudential Financial by 39.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 135,206 shares of the financial services provider’s stock valued at $10,247,000 after purchasing an additional 38,342 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Prudential Financial by 2.4% in the 3rd quarter. CIBC Asset Management Inc now owns 36,050 shares of the financial services provider’s stock valued at $3,792,000 after acquiring an additional 860 shares during the period. Mackenzie Financial Corp grew its stake in Prudential Financial by 15.3% during the 3rd quarter. Mackenzie Financial Corp now owns 111,443 shares of the financial services provider’s stock worth $11,724,000 after buying an additional 14,752 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in Prudential Financial by 298.3% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 281,606 shares of the financial services provider’s stock worth $29,625,000 after buying an additional 210,896 shares during the last quarter. Finally, Eagle Capital Management LLC purchased a new position in Prudential Financial during the 2nd quarter worth $3,576,000. 56.77% of the stock is owned by institutional investors and hedge funds.

Shares of PRU opened at $107.74 on Friday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $113.77 and a two-hundred day simple moving average of $112.03. The stock has a market cap of $40.51 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 1.06 and a beta of 1.48. Prudential Financial has a 52 week low of $94.51 and a 52 week high of $124.22.

Prudential Financial (NYSE:PRU – Get Rating) last released its earnings results on Tuesday, May 3rd. The financial services provider reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.47. Prudential Financial had a return on equity of 8.67% and a net margin of 8.09%. During the same quarter in the previous year, the company earned $4.11 earnings per share. On average, equities analysts anticipate that Prudential Financial will post 11.43 earnings per share for the current fiscal year.

About Prudential Financial (Get Rating)

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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

See Also