Prudential Financial, Inc. (NYSE:PRU) Receives Average Recommendation of “Hold” from Brokerages

Prudential Financial, Inc. (NYSE:PRU) has received an average rating of “Hold” from the thirteen research firms that are presently covering the firm, MarketBeat reports. Eleven analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $126.33.

A number of analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Piper Sandler raised their price target on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. TD Cowen upped their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Finally, Wells Fargo & Company increased their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th.

Prudential Financial Price Performance

NYSE PRU opened at $119.14 on Friday. The business’s fifty day moving average is $123.17 and its 200 day moving average is $120.61. Prudential Financial has a fifty-two week low of $100.60 and a fifty-two week high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market capitalization of $42.41 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 0.87 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data 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. The firm had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the firm earned $3.44 EPS. Sell-side analysts predict that Prudential Financial will post 13.35 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.36%. 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 bought 537,249 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Trading of Prudential Financial

A number of institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new stake in shares of Prudential Financial in the 3rd quarter worth about $31,000. Quarry LP lifted its stake in Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares during the last quarter. Tompkins Financial Corp grew its stake in shares of Prudential Financial by 61.7% during the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after buying an additional 140 shares during the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Prudential Financial by 235.4% in the third quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock worth $46,000 after buying an additional 266 shares during the period. Finally, Darwin Wealth Management LLC bought a new stake in shares of Prudential Financial during the 3rd quarter worth approximately $48,000. 56.83% of the stock is currently owned by institutional investors.

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.