Prudential Financial (NYSE:PRU) Now Covered by Analysts at Raymond James

Raymond James assumed coverage on shares of Prudential Financial (NYSE:PRUGet Rating) in a research note published on Wednesday, The Fly reports. The brokerage issued a strong-buy rating on the financial services provider’s stock.

A number of other equities analysts have also commented on PRU. Jefferies Financial Group raised their price target on Prudential Financial from $78.00 to $79.00 and gave the stock an underperform rating in a report on Thursday, September 8th. The Goldman Sachs Group cut their price target on Prudential Financial from $116.00 to $99.00 and set a neutral rating for the company in a report on Monday, June 6th. Royal Bank of Canada cut their price target on Prudential Financial from $125.00 to $112.00 and set a sector perform rating for the company in a report on Monday, July 11th. Wells Fargo & Company raised their price target on Prudential Financial from $95.00 to $101.00 and gave the stock an equal weight rating in a report on Thursday, August 4th. Finally, TheStreet downgraded Prudential Financial from a b- rating to a c+ rating in a research report on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $104.83.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $91.87 on Wednesday. The stock has a fifty day simple moving average of $97.50 and a two-hundred day simple moving average of $103.41. Prudential Financial has a 1-year low of $89.73 and a 1-year high of $124.22. The firm has a market cap of $34.18 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 1.05 and a beta of 1.40. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.68.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $4.80 dividend on an annualized basis and a yield of 5.22%. Prudential Financial’s payout ratio is 88.89%.

Institutional Investors Weigh In On Prudential Financial

A number of large investors have recently added to or reduced their stakes in PRU. Norges Bank purchased a new stake in Prudential Financial during the fourth quarter valued at about $283,466,000. First Trust Advisors LP increased its holdings in shares of Prudential Financial by 318.2% in the first quarter. First Trust Advisors LP now owns 2,375,383 shares of the financial services provider’s stock worth $280,699,000 after buying an additional 1,807,375 shares during the period. Cowa LLC increased its holdings in shares of Prudential Financial by 9,930.2% in the first quarter. Cowa LLC now owns 771,824 shares of the financial services provider’s stock worth $912,000 after buying an additional 764,129 shares during the period. Mariner LLC increased its holdings in shares of Prudential Financial by 2,197.4% in the first quarter. Mariner LLC now owns 690,184 shares of the financial services provider’s stock worth $81,560,000 after buying an additional 660,142 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Prudential Financial by 1.9% in the first quarter. Vanguard Group Inc. now owns 31,119,980 shares of the financial services provider’s stock worth $3,677,448,000 after buying an additional 577,475 shares during the period. Hedge funds and other institutional investors own 57.74% of the company’s stock.

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

The Fly logo

Analyst Recommendations for Prudential Financial (NYSE:PRU)

Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.