Prudential Financial, Inc. (NYSE:PRU) Receives $125.69 Average Target Price from Brokerages

Prudential Financial, Inc. (NYSE:PRU) has earned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. Eleven analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $125.69.

A number of research firms have issued reports on PRU. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Barclays lifted their target price on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Morgan Stanley dropped their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. TD Cowen started coverage on Prudential Financial in a research report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price target for the company. Finally, Bank of America boosted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Several hedge funds and other institutional investors have recently modified their holdings of the business. Annex Advisory Services LLC lifted its holdings in Prudential Financial by 3.4% during the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after buying an additional 81 shares in the last quarter. Raymond James Trust N.A. increased its position in Prudential Financial by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock valued at $951,000 after purchasing an additional 87 shares during the period. Avidian Wealth Enterprises LLC boosted its stake in shares of Prudential Financial by 1.2% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 89 shares in the last quarter. Quotient Wealth Partners LLC lifted its holdings in Prudential Financial by 3.9% during the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after buying an additional 92 shares during the period. Finally, Jaffetilchin Investment Partners LLC raised its position in shares of 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 worth $250,000 after acquiring an additional 94 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

NYSE:PRU opened at $128.17 on Friday. Prudential Financial has a 1-year low of $93.32 and a 1-year high of $129.13. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The business has a 50 day moving average of $122.47 and a 200 day moving average of $119.44. The company has a market capitalization of $45.63 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 0.91 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the company posted $3.44 EPS. On average, sell-side analysts predict that Prudential Financial will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.06%. Prudential Financial’s payout ratio is 46.22%.

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.