Prudential Financial (NYSE:PRU) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Prudential Financial (NYSE:PRU) from a hold rating to a strong sell rating in a report issued on Wednesday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on PRU. Piper Sandler dropped their target price on shares of Prudential Financial from $105.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Wall Street Zen downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. JPMorgan Chase & Co. cut their target price on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating on the stock in a report on Wednesday, February 4th. Mizuho decreased their target price on Prudential Financial from $113.00 to $101.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. Finally, Morgan Stanley lowered their target price on Prudential Financial from $120.00 to $111.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Ten research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $101.75.

Prudential Financial Trading Up 1.9%

NYSE:PRU opened at $98.27 on Wednesday. The company has a market cap of $34.18 billion, a PE ratio of 9.83, a P/E/G ratio of 1.25 and a beta of 0.95. The business’s 50 day moving average is $96.97 and its two-hundred day moving average is $104.57. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial has a 52 week low of $91.89 and a 52 week high of $119.76.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The firm had revenue of $14.52 billion during the quarter, compared to the consensus estimate of $14.48 billion. During the same quarter last year, the firm posted $2.96 earnings per share. On average, analysts predict that Prudential Financial will post 13.87 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Tuesday, February 17th were given a $1.40 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $5.60 annualized dividend and a yield of 5.7%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s payout ratio is 56.00%.

Insiders Place Their Bets

In other Prudential Financial news, Director Joseph J. Wolk acquired 400 shares of Prudential Financial stock in a transaction dated Wednesday, February 11th. The stock was acquired at an average cost of $105.32 per share, for a total transaction of $42,128.00. Following the completion of the transaction, the director owned 400 shares in the company, valued at approximately $42,128. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jacques Chappuis acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was acquired at an average cost of $100.97 per share, with a total value of $100,970.00. Following the completion of the acquisition, the executive vice president directly owned 1,000 shares in the company, valued at approximately $100,970. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 1,650 shares of company stock worth $168,841. Insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 133 shares during the period. Empowered Funds LLC increased its stake in Prudential Financial by 30.5% during the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after buying an additional 4,134 shares during the period. Brown Advisory Inc. raised its position in shares of Prudential Financial by 3.5% during the 2nd quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider’s stock worth $447,000 after buying an additional 140 shares in the last quarter. AXA S.A. lifted its stake in shares of Prudential Financial by 25.8% in the 2nd quarter. AXA S.A. now owns 56,700 shares of the financial services provider’s stock worth $6,092,000 after acquiring an additional 11,630 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Prudential Financial by 15.1% in the second quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider’s stock valued at $4,005,000 after acquiring an additional 4,895 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.