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

Prudential Financial, Inc. (NYSE:PRUGet Free Report) has earned a consensus rating of “Hold” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $118.4444.

Several analysts recently issued reports on the stock. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Piper Sandler raised their price objective on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 23rd. JPMorgan Chase & Co. decreased their target price on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating on the stock in a report on Wednesday, February 4th. UBS Group upped their price target on Prudential Financial from $111.00 to $116.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Finally, Evercore cut their price objective on Prudential Financial from $122.00 to $110.00 and set an “in-line” rating for the company in a research report on Thursday.

View Our Latest Report on PRU

Prudential Financial Price Performance

NYSE PRU opened at $102.88 on Monday. Prudential Financial has a 12-month low of $90.38 and a 12-month high of $119.76. The firm’s fifty day simple moving average is $112.44 and its two-hundred day simple moving average is $107.43. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $36.01 billion, a P/E ratio of 10.29, a P/E/G ratio of 1.17 and a beta of 0.97.

Prudential Financial (NYSE:PRUGet Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). The company had revenue of $14.52 billion for the quarter, compared to analysts’ expectations of $14.48 billion. Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. During the same quarter in the previous year, the business posted $2.96 EPS. Analysts forecast that Prudential Financial will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Tuesday, February 17th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $5.60 annualized dividend and a dividend yield of 5.4%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s dividend payout ratio (DPR) is presently 54.00%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 1,406,739 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were purchased at an average cost of $24.87 per share, with a total value of $34,985,598.93. Following the purchase, the insider directly owned 7,709,624 shares in the company, valued at approximately $191,738,348.88. This represents a 22.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Caroline Feeney sold 6,555 shares of the firm’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 transaction, the executive vice president directly owned 22,523 shares of the company’s stock, valued at $2,618,974.44. This represents a 22.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Prudential Financial

Several institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in Prudential Financial during the second quarter worth about $122,778,000. Vanguard Group Inc. raised its stake in shares of Prudential Financial by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock worth $4,566,432,000 after buying an additional 600,482 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Prudential Financial by 49.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after buying an additional 567,571 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Prudential Financial by 183.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 804,316 shares of the financial services provider’s stock valued at $83,440,000 after buying an additional 520,425 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Prudential Financial during the second quarter worth $40,552,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

More Prudential Financial News

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About Prudential Financial

(Get Free Report)

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.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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