Prudential Financial (NYSE:PRU) Price Target Cut to $111.00 by Analysts at Morgan Stanley

Prudential Financial (NYSE:PRU) had its price target trimmed by Morgan Stanley from $120.00 to $111.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

PRU has been the topic of a number of other research reports. UBS Group upped their target price on Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. lowered their price objective on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Mizuho reduced their target price on shares of Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 10th. Finally, Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus price target of $115.00.

Prudential Financial Stock Down 1.2%

Shares of Prudential Financial stock opened at $98.78 on Tuesday. 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 has a 12-month low of $90.38 and a 12-month high of $119.76. The company has a market cap of $34.38 billion, a P/E ratio of 9.88, a PEG ratio of 1.15 and a beta of 0.98. The company’s fifty day simple moving average is $108.64 and its two-hundred day simple moving average is $107.25.

Prudential Financial (NYSE:PRU) last announced its earnings results 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). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The company 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 posted $2.96 EPS. Research analysts anticipate that Prudential Financial will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th will be paid a $1.40 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Tuesday, February 17th. Prudential Financial’s payout ratio is currently 56.00%.

Insider Activity

In related news, 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 sale, the executive vice president owned 22,523 shares of the company’s stock, valued at $2,618,974.44. This trade represents a 22.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jacques Chappuis bought 1,000 shares of the business’s stock in a transaction on Friday, February 6th. The shares were acquired at an average price of $100.97 per share, for a total transaction of $100,970.00. Following the completion of the purchase, the executive vice president owned 1,000 shares in the company, valued at approximately $100,970. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 1,408,389 shares of company stock valued at $35,154,439. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jessup Wealth Management Inc purchased a new stake in shares of Prudential Financial during the fourth quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $26,000. Salomon & Ludwin LLC raised its holdings in shares of Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 114 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in shares of Prudential Financial in the 4th quarter valued at $28,000. Finally, Coston McIsaac & Partners grew its stake in shares of Prudential Financial by 93.4% during the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 128 shares in the last quarter. 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.