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

Prudential Financial, Inc. (NYSE:PRU) has earned a consensus rating of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $115.00.

A number of brokerages recently issued reports on PRU. Piper Sandler increased their price objective on Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, December 23rd. Mizuho decreased their price target on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 10th. Wall Street Zen lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. JPMorgan Chase & Co. reduced their price objective on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. Finally, Wells Fargo & Company cut shares of Prudential Financial from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $115.00 to $103.00 in a research note on Wednesday, February 25th.

Prudential Financial Stock Performance

Shares of PRU stock opened at $99.13 on Friday. The firm’s 50 day moving average is $108.02 and its 200 day moving average is $107.14. The stock has a market capitalization of $34.50 billion, a P/E ratio of 9.91, a PEG ratio of 1.14 and a beta of 0.98. Prudential Financial has a 12 month low of $90.38 and a 12 month high of $119.76. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The business had revenue of $15.69 billion for the quarter, compared to the consensus estimate of $14.48 billion. During the same period in the previous year, the firm earned $2.96 EPS. On average, sell-side analysts anticipate that Prudential Financial will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Tuesday, February 17th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.6%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Tuesday, February 17th. Prudential Financial’s dividend payout ratio (DPR) is 56.00%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 1,406,739 shares of Prudential Financial stock in a transaction that occurred on Friday, January 23rd. The stock was acquired at an average cost of $24.87 per share, for a total transaction of $34,985,598.93. Following the completion of the transaction, the insider directly owned 7,709,624 shares in the company, valued at $191,738,348.88. This represents a 22.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas D. Stoddard purchased 250 shares of the stock in a transaction on Tuesday, February 17th. The stock was acquired at an average cost of $102.97 per share, for a total transaction of $25,742.50. Following the acquisition, the director owned 250 shares in the company, valued at approximately $25,742.50. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 1,408,389 shares of company stock valued at $35,154,439 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Prudential Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of PRU. Brighton Jones LLC lifted its holdings in shares of Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 133 shares during the last quarter. Empowered Funds LLC raised its position in Prudential Financial by 30.5% during the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after purchasing an additional 4,134 shares in the last quarter. AlphaQuest LLC lifted its stake in Prudential Financial by 127.1% during the second quarter. AlphaQuest LLC now owns 561 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 314 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Prudential Financial by 122.5% in the 2nd quarter. Assetmark Inc. now owns 3,333 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 1,835 shares in the last quarter. Finally, TIAA Trust National Association increased its position in shares of Prudential Financial by 2.7% during the 2nd quarter. TIAA Trust National Association now owns 4,142 shares of the financial services provider’s stock valued at $445,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

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.