Prudential Financial, Inc. (NYSE:PRU) had its target price lifted by Morgan Stanley from $123.00 to $124.00 in a research note published on Thursday morning. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.
PRU has been the subject of a number of other research reports. BidaskClub lowered Prudential Financial from a buy rating to a hold rating in a research report on Saturday, August 12th. Keefe, Bruyette & Woods restated a buy rating on shares of Prudential Financial in a research report on Friday, August 11th. Goldman Sachs Group, Inc. (The) began coverage on Prudential Financial in a research report on Wednesday, October 18th. They set a neutral rating and a $114.00 price objective for the company. FBR & Co upgraded Prudential Financial from a neutral rating to a buy rating and cut their price objective for the company from $117.00 to $100.00 in a research report on Tuesday, October 10th. Finally, Zacks Investment Research raised shares of Prudential Financial from a hold rating to a buy rating and set a $122.00 price target for the company in a report on Tuesday, October 10th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $114.78.
Shares of Prudential Financial (PRU) traded down $1.00 during trading on Thursday, hitting $111.84. The stock had a trading volume of 1,990,000 shares, compared to its average volume of 1,504,015. The stock has a market capitalization of $47,755.68, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 1.28 and a beta of 1.56. The company has a current ratio of 0.16, a quick ratio of 0.13 and a debt-to-equity ratio of 0.33. Prudential Financial has a 52-week low of $85.36 and a 52-week high of $115.26.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.30. The firm had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a return on equity of 9.20% and a net margin of 7.71%. During the same quarter last year, the business posted $2.66 earnings per share. sell-side analysts forecast that Prudential Financial will post 10.29 earnings per share for the current fiscal year.
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In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the completion of the sale, the insider now owns 10,924 shares of the company’s stock, valued at $1,225,454.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas C. Silitch sold 14,897 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the completion of the sale, the insider now directly owns 21,274 shares of the company’s stock, valued at approximately $2,340,140. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Prudential Financial by 25.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 21,649 shares of the financial services provider’s stock valued at $2,341,000 after acquiring an additional 4,372 shares in the last quarter. Seizert Capital Partners LLC raised its stake in shares of Prudential Financial by 2.2% during the second quarter. Seizert Capital Partners LLC now owns 114,414 shares of the financial services provider’s stock valued at $12,373,000 after acquiring an additional 2,421 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Prudential Financial by 8.3% during the second quarter. Pacer Advisors Inc. now owns 9,822 shares of the financial services provider’s stock valued at $1,062,000 after acquiring an additional 754 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of Prudential Financial by 253.2% during the second quarter. Bank of Nova Scotia now owns 347,743 shares of the financial services provider’s stock valued at $37,605,000 after acquiring an additional 249,277 shares in the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Prudential Financial by 171.8% during the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock valued at $287,566,000 after acquiring an additional 1,709,699 shares in the last quarter. 64.88% of the stock is 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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