BidaskClub upgraded shares of Prudential Financial Inc (NYSE:PRU) from a hold rating to a buy rating in a report released on Wednesday.
A number of other research firms have also recently commented on PRU. Deutsche Bank AG upped their target price on shares of Prudential Financial from $114.00 to $117.00 and gave the company a buy rating in a research report on Wednesday, April 19th. J P Morgan Chase & Co upped their target price on shares of Prudential Financial from $108.00 to $113.00 and gave the company an overweight rating in a research report on Monday, April 3rd. ValuEngine raised shares of Prudential Financial from a buy rating to a strong-buy rating in a research report on Friday, June 2nd. Zacks Investment Research cut shares of Prudential Financial from a buy rating to a hold rating in a research report on Wednesday, June 14th. Finally, Wells Fargo & Company reaffirmed a hold rating on shares of Prudential Financial in a research report on Thursday, May 4th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $111.21.
Shares of Prudential Financial (NYSE PRU) opened at 111.28 on Wednesday. The company has a market cap of $47.74 billion, a price-to-earnings ratio of 11.29 and a beta of 1.49. Prudential Financial has a one year low of $72.25 and a one year high of $114.55. The company’s 50-day moving average is $105.88 and its 200-day moving average is $106.87.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 EPS for the quarter, beating the Zacks’ consensus estimate of $2.64 by $0.15. Prudential Financial had a net margin of 9.81% and a return on equity of 11.71%. The company had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $12.75 billion. During the same quarter in the prior year, the company posted $2.18 earnings per share. On average, equities analysts predict that Prudential Financial will post $10.67 EPS for the current year.
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In other Prudential Financial news, insider Charles F. Lowrey sold 222,857 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $108.04, for a total value of $24,077,470.28. Following the transaction, the insider now directly owns 151,418 shares in the company, valued at $16,359,200.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the completion of the transaction, the chairman now owns 456,121 shares in the company, valued at $50,173,310. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Adirondack Trust Co. raised its position in shares of Prudential Financial by 7.6% in the first quarter. Adirondack Trust Co. now owns 1,133 shares of the financial services provider’s stock valued at $121,000 after buying an additional 80 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Prudential Financial by 11.1% in the first quarter. Quadrant Capital Group LLC now owns 1,376 shares of the financial services provider’s stock valued at $139,000 after buying an additional 137 shares in the last quarter. First Personal Financial Services raised its position in shares of Prudential Financial by 3.4% in the first quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock valued at $150,000 after buying an additional 46 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in shares of Prudential Financial by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock valued at $177,000 after buying an additional 5 shares in the last quarter. Finally, Trust Co. of Vermont raised its position in shares of Prudential Financial by 28.5% in the second quarter. Trust Co. of Vermont now owns 1,711 shares of the financial services provider’s stock valued at $185,000 after buying an additional 380 shares in the last quarter. Institutional investors own 63.17% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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