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

Shares of Prudential Financial, Inc. (NYSE:PRU) have earned a consensus recommendation of “Reduce” from the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and eleven have given a hold recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $116.80.

PRU has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research note on Monday, November 3rd. Barclays dropped their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Evercore ISI increased their price objective on Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Mizuho initiated coverage on Prudential Financial in a research note on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 target price for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prudential Financial in a research note on Monday, December 15th.

Insider Transactions at Prudential Financial

In related news, EVP Caroline Feeney sold 6,555 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $116.28, for a total transaction of $762,215.40. Following the completion of the sale, the executive vice president directly owned 22,523 shares of the company’s stock, valued at $2,618,974.44. The trade was a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Charles F. Lowrey sold 48,164 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the transaction, the chairman owned 165,564 shares in the company, valued at $17,779,917.96. This represents a 22.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 62,719 shares of company stock worth $6,796,067 in the last quarter. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Prudential Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRU. AlphaQuest LLC grew its position in shares of Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after buying an additional 245 shares during the period. Wealth Watch Advisors INC acquired a new position in Prudential Financial during the third quarter valued at approximately $30,000. Chilton Capital Management LLC increased its stake in Prudential Financial by 146.5% in the third quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 208 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in Prudential Financial in the second quarter worth $36,000. Finally, AlphaCore Capital LLC bought a new position in shares of Prudential Financial during the second quarter worth $39,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.5%

PRU stock opened at $114.97 on Friday. The business has a fifty day moving average price of $107.05 and a 200 day moving average price of $105.80. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial has a fifty-two week low of $90.38 and a fifty-two week high of $123.88. The stock has a market capitalization of $40.24 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 0.94 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The company had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%. Analysts expect that Prudential Financial will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.7%. Prudential Financial’s dividend payout ratio is presently 74.18%.

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.