Prudential Financial, Inc. (NYSE:PRU) Stock Has Consensus Price Target of $107.85 According to Brokerages

Shares of Prudential Financial, Inc. (NYSE:PRU) have been assigned an average rating of “Reduce” from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $107.31.

PRU has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on Prudential Financial from $131.00 to $127.00 and set a “neutral” rating on the stock in a report on Thursday, October 15th. Keefe, Bruyette & Woods reduced their price objective on Prudential Financial from $123.00 to $119.00 and set a “market perform” rating for the company in a research note on Friday. Weiss Ratings cut Prudential Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Morgan Stanley lowered their target price on Prudential Financial from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company lowered their target price on Prudential Financial from $110.00 to $104.00 and set an “underweight” rating on the stock in a research note on Monday, October 12th.

Prudential Financial Stock Down 1.9%

NYSE PRU opened at $113.70 on Friday. The business has a fifty day moving average price of $118.28 and a 200 day moving average price of $111.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $39.23 billion, a P/E ratio of 7.60, a P/E/G ratio of 1.72 and a beta of 0.85. Prudential Financial has a one year low of $91.89 and a one year high of $127.72.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.36 billion. During the same period in the prior year, the company earned $3.58 earnings per share. Research analysts anticipate that Prudential Financial will post 14.47 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $5.60 annualized dividend and a dividend yield of 4.9%. Prudential Financial’s dividend payout ratio (DPR) is currently 50.72%.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total value of $5,314,963.50. Following the completion of the sale, the insider directly owned 7,973,657 shares in the company, valued at approximately $197,348,010.75. The trade was a 2.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Kappler sold 7,652 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the sale, the executive vice president directly owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. The trade was a 34.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.05% of the stock is owned by company insiders.

Institutional Investors Weigh In On Prudential Financial

A number of large investors have recently bought and sold shares of the business. Archer Investment Corp purchased a new position in Prudential Financial during the 2nd quarter worth $26,000. SJS Investment Consulting Inc. boosted its holdings in shares of Prudential Financial by 93.1% in the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 134 shares during the period. Union Savings Bank purchased a new position in Prudential Financial during the fourth quarter valued at approximately $35,000. Reflection Asset Management purchased a new position in Prudential Financial during the fourth quarter worth about $39,000. Finally, EFG International AG grew its stake in Prudential Financial by 452.2% in the 2nd quarter. EFG International AG now owns 381 shares of the financial services provider’s stock worth $41,000 after buying an additional 312 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

About Prudential Financial

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.