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

Prudential Financial, Inc. (NYSE:PRU) has earned an average rating of “Hold” from the thirteen analysts that are presently covering the company, Marketbeat.com reports. Eleven analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $127.17.

PRU has been the topic of several research analyst reports. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Barclays upped their target price on Prudential Financial from $119.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday. Bank of America boosted their price objective on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. TD Cowen lifted their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, Jefferies Financial Group boosted their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $118.36 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average is $122.65 and its two-hundred day moving average is $120.67. The firm has a market capitalization of $42.14 billion, a P/E ratio of 10.52, a PEG ratio of 0.87 and a beta of 1.31. Prudential Financial has a 52 week low of $100.60 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the firm posted $3.44 EPS. Analysts anticipate that Prudential Financial will post 13.35 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Prudential Financial

A number of institutional investors have recently modified their holdings of PRU. Glenmede Trust Co. NA grew its stake in Prudential Financial by 7.4% in the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 1,234 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Prudential Financial by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after purchasing an additional 15,695 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Prudential Financial by 2.3% in the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after purchasing an additional 1,765 shares during the last quarter. First Horizon Advisors Inc. increased its position in Prudential Financial by 4.3% during the third quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock worth $19,701,000 after buying an additional 6,641 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of Prudential Financial by 18.7% in the third quarter. HighTower Advisors LLC now owns 69,542 shares of the financial services provider’s stock worth $8,395,000 after buying an additional 10,964 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

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.