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

Shares of Prudential Financial, Inc. (NYSE:PRU) have been assigned an average rating of “Reduce” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and ten have issued a hold rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $111.42.

Several research analysts recently issued reports on PRU shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $118.00 target price (down from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. Wells Fargo & Company raised their price target on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Piper Sandler lifted their target price on Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Raymond James cut Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Finally, UBS Group upped their price target on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, February 12th.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the sale, the executive vice president now owns 24,381 shares in the company, valued at $2,642,656.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the sale, the senior vice president now directly owns 7,901 shares in the company, valued at $883,805.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the transaction, the executive vice president now directly owns 24,381 shares in the company, valued at $2,642,656.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,255 shares of company stock worth $3,215,664. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Hedge funds have recently bought and sold shares of the business. Cambridge Trust Co. increased its stake in Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in Prudential Financial during the 4th quarter worth $26,000. Headinvest LLC purchased a new stake in shares of Prudential Financial in the 3rd quarter valued at about $27,000. Arlington Trust Co LLC lifted its holdings in shares of Prudential Financial by 151.6% in the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Pineridge Advisors LLC purchased a new stake in shares of Prudential Financial in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

NYSE PRU opened at $111.94 on Tuesday. The company has a market cap of $40.19 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. Prudential Financial has a 52 week low of $77.22 and a 52 week high of $118.69. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The firm’s 50-day simple moving average is $111.84 and its two-hundred day simple moving average is $103.99.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The company had revenue of $13.02 billion for the quarter, compared to analysts’ expectations of $12.99 billion. During the same period last year, the company posted $2.42 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. Research analysts predict that Prudential Financial will post 13.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were given a $1.30 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend was Friday, February 16th. Prudential Financial’s payout ratio is currently 77.73%.

Prudential Financial Company Profile

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 PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.