Prudential Financial (NYSE:PRU) Upgraded by Jefferies Financial Group to Buy

Jefferies Financial Group upgraded shares of Prudential Financial (NYSE:PRU) from a hold rating to a buy rating in a research note released on Wednesday morning, Marketbeat reports. Jefferies Financial Group currently has $143.00 target price on the financial services provider’s stock, up from their previous target price of $121.00.

PRU has been the subject of several other reports. Piper Sandler lowered their price objective on Prudential Financial from $125.00 to $121.00 and set a neutral rating for the company in a research report on Monday, May 6th. Wells Fargo & Company increased their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an underweight rating in a research note on Thursday, April 11th. Raymond James lowered shares of Prudential Financial from a strong-buy rating to a market perform rating in a report on Friday, February 9th. Evercore ISI raised their target price on Prudential Financial from $115.00 to $116.00 and gave the company an underperform rating in a research note on Thursday, April 25th. Finally, TheStreet raised Prudential Financial from a c+ rating to an a- rating in a research note on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $115.25.

Prudential Financial Stock Up 1.4 %

Shares of NYSE:PRU opened at $119.49 on Wednesday. The firm has a market cap of $42.90 billion, a P/E ratio of 20.32, a P/E/G ratio of 0.88 and a beta of 1.35. The business has a fifty day simple moving average of $114.43 and a 200 day simple moving average of $106.85. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial has a 12-month low of $78.40 and a 12-month high of $121.39.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. During the same quarter in the previous year, the business posted $2.66 EPS. The firm’s revenue for the quarter was up 69.9% compared to the same quarter last year. Analysts predict that Prudential Financial will post 13.42 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.35%. Prudential Financial’s payout ratio is 88.44%.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the sale, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the transaction, the executive vice president now owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the sale, the senior vice president now owns 14,754 shares in the company, valued at $1,595,350.02. The disclosure for this sale can be found here. Insiders have sold 164,536 shares of company stock valued at $19,245,606 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Large investors have recently modified their holdings of the stock. Beck Bode LLC bought a new position in Prudential Financial during the first quarter valued at $3,665,000. Atria Investments Inc lifted its position in shares of Prudential Financial by 12.3% during the 1st quarter. Atria Investments Inc now owns 33,459 shares of the financial services provider’s stock valued at $3,928,000 after buying an additional 3,652 shares during the last quarter. Swedbank AB bought a new position in shares of Prudential Financial during the 1st quarter worth $35,855,000. LRI Investments LLC purchased a new stake in Prudential Financial in the 1st quarter worth about $48,000. Finally, Jaffetilchin Investment Partners LLC raised its stake in Prudential Financial by 4.6% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,131 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 94 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

About Prudential Financial

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.