Prudential Financial, Inc. (NYSE:PRU) Receives $126.33 Consensus Price Target from Brokerages

Prudential Financial, Inc. (NYSE:PRU) has received a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the company, Marketbeat reports. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $127.17.

PRU has been the topic of a number of research reports. Piper Sandler boosted their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America boosted their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Barclays raised their price objective on Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Jefferies Financial Group upped their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Wells Fargo & Company raised their price target on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th.

Prudential Financial Price Performance

PRU opened at $114.41 on Friday. The stock has a market cap of $40.73 billion, a P/E ratio of 10.17, a P/E/G ratio of 0.87 and a beta of 1.31. Prudential Financial has a 12 month low of $100.60 and a 12 month high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a fifty day simple moving average of $122.52 and a 200 day simple moving average of $120.65.

Prudential Financial (NYSE:PRU) last announced its quarterly 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 net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the firm posted $3.44 earnings per share. On average, research analysts expect that Prudential Financial will post 13.35 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is currently 46.22%.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new stake in shares of Prudential Financial in the 3rd quarter worth approximately $31,000. Strategic Financial Concepts LLC raised its stake in shares of Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after buying an additional 25,027 shares during the period. Quarry LP lifted its position in shares of Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after buying an additional 222 shares during the last quarter. Tompkins Financial Corp grew its stake in shares of Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 140 shares during the period. Finally, GHP Investment Advisors Inc. raised its stake in Prudential Financial by 235.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 266 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

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.