FBR & Co upgraded shares of Prudential Financial, Inc. (NYSE:PRU) from a neutral rating to a buy rating in a report released on Tuesday. They currently have $100.00 price target on the financial services provider’s stock, down from their prior price target of $117.00. FBR & Co also issued estimates for Prudential Financial’s Q3 2017 earnings at $2.68 EPS.
A number of other equities research analysts have also recently issued reports on the company. Morgan Stanley raised their target price on Prudential Financial from $118.00 to $123.00 and gave the company an equal weight rating in a research note on Thursday, October 5th. Royal Bank Of Canada reiterated a hold rating and issued a $117.00 target price on shares of Prudential Financial in a research note on Wednesday, September 6th. BidaskClub cut Prudential Financial from a buy rating to a hold rating in a research note on Saturday, August 12th. Keefe, Bruyette & Woods restated a buy rating on shares of Prudential Financial in a research note on Friday, August 11th. Finally, Wells Fargo & Company restated a hold rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Prudential Financial presently has an average rating of Buy and a consensus price target of $114.30.
Shares of Prudential Financial (NYSE PRU) traded down 0.22% during trading on Tuesday, reaching $109.76. 105,408 shares of the company’s stock traded hands. Prudential Financial has a 1-year low of $82.45 and a 1-year high of $115.26. The company has a market capitalization of $46.87 billion, a price-to-earnings ratio of 12.25 and a beta of 1.51. The company has a 50 day moving average of $104.06 and a 200-day moving average of $106.62.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.61). The company had revenue of $13.03 billion during the quarter, compared to the consensus estimate of $12.45 billion. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. During the same quarter in the previous year, the business posted $1.84 earnings per share. Equities analysts predict that Prudential Financial will post $10.17 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Friday, August 18th. Prudential Financial’s payout ratio is currently 33.63%.
In related news, insider Stephen Pelletier sold 4,133 shares of Prudential Financial stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $112.18, for a total value of $463,639.94. Following the transaction, the insider now owns 10,924 shares of the company’s stock, valued at approximately $1,225,454.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas C. Silitch sold 14,897 shares of Prudential Financial stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the completion of the transaction, the insider now directly owns 21,274 shares in the company, valued at approximately $2,340,140. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Fieldpoint Private Securities LLC purchased a new position in Prudential Financial in the 2nd quarter worth about $103,000. Hudock Capital Group LLC increased its stake in Prudential Financial by 0.7% in the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 8 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in Prudential Financial by 0.3% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 5 shares in the last quarter. Accurate Investment Solutions Inc. increased its stake in Prudential Financial by 2.3% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 38 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in Prudential Financial by 128.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 957 shares in the last quarter. 64.45% of the stock is currently owned by hedge funds and other institutional investors.
About Prudential Financial
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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