Shares of Prudential Financial Inc (NYSE:PRU) have been given an average rating of “Hold” by the seventeen brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $97.50.
A number of research firms have weighed in on PRU. Citigroup upgraded Prudential Financial to a “buy” rating in a report on Friday, October 18th. Royal Bank of Canada restated a “neutral” rating on shares of Prudential Financial in a report on Friday, October 18th. Barclays set a $108.00 price target on Prudential Financial and gave the stock a “buy” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods cut Prudential Financial from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $107.00 to $102.00 in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. cut their target price on Prudential Financial from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th.
Shares of NYSE:PRU traded down $0.51 during trading on Monday, reaching $93.14. 2,068,085 shares of the stock were exchanged, compared to its average volume of 2,115,604. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.11 and a current ratio of 0.11. Prudential Financial has a 12-month low of $75.61 and a 12-month high of $106.39. The firm has a market cap of $37.31 billion, a price-to-earnings ratio of 7.97, a price-to-earnings-growth ratio of 0.86 and a beta of 1.57. The firm’s 50-day moving average price is $90.41 and its 200 day moving average price is $93.41.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Monday, November 25th. Prudential Financial’s dividend payout ratio is 34.22%.
In other news, CFO Kenneth Tanji purchased 2,500 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was bought at an average cost of $83.84 per share, with a total value of $209,600.00. Following the purchase, the chief financial officer now directly owns 19,285 shares of the company’s stock, valued at $1,616,854.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Falzon acquired 3,580 shares of the stock in a transaction dated Monday, September 9th. The shares were bought at an average cost of $83.98 per share, for a total transaction of $300,648.40. Following the acquisition, the executive vice president now owns 64,228 shares in the company, valued at approximately $5,393,867.44. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 13,580 shares of company stock valued at $1,137,848. 0.76% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRU. Nuveen Asset Management LLC grew its holdings in Prudential Financial by 14,775.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,268,078 shares of the financial services provider’s stock valued at $330,076,000 after buying an additional 3,246,108 shares during the last quarter. Nippon Life Insurance Co. grew its holdings in Prudential Financial by 72.0% in the 3rd quarter. Nippon Life Insurance Co. now owns 4,401,995 shares of the financial services provider’s stock valued at $395,959,000 after buying an additional 1,841,995 shares during the last quarter. BlackRock Inc. grew its holdings in Prudential Financial by 6.2% in the 2nd quarter. BlackRock Inc. now owns 31,395,669 shares of the financial services provider’s stock valued at $3,170,962,000 after buying an additional 1,840,652 shares during the last quarter. Invesco Ltd. grew its holdings in Prudential Financial by 72.7% in the 2nd quarter. Invesco Ltd. now owns 3,825,999 shares of the financial services provider’s stock valued at $386,426,000 after buying an additional 1,610,600 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Prudential Financial by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 32,659,263 shares of the financial services provider’s stock valued at $3,298,586,000 after buying an additional 324,451 shares during the last quarter. 63.27% of the stock is currently owned by hedge funds and other institutional investors.
About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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