Investors Buy Prudential Financial (PRU) on Weakness

Traders bought shares of Prudential Financial Inc (NYSE:PRU) on weakness during trading hours on Wednesday. $71.00 million flowed into the stock on the tick-up and $34.61 million flowed out of the stock on the tick-down, for a money net flow of $36.39 million into the stock. Of all stocks tracked, Prudential Financial had the 30th highest net in-flow for the day. Prudential Financial traded down ($1.06) for the day and closed at $100.90

Several research analysts recently weighed in on the company. Deutsche Bank dropped their target price on Prudential Financial from $125.00 to $113.00 and set a “hold” rating on the stock in a research note on Friday, May 4th. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 4th. Wells Fargo & Co restated a “hold” rating and set a $111.00 target price on shares of Prudential Financial in a research note on Thursday, May 3rd. ValuEngine downgraded Prudential Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Credit Suisse Group assumed coverage on Prudential Financial in a research note on Wednesday, April 25th. They set a “neutral” rating and a $102.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $116.50.

The company has a debt-to-equity ratio of 0.35, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market cap of $42.68 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.98 and a beta of 1.52.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $3.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.98 by $0.10. The business had revenue of $12.88 billion for the quarter, compared to the consensus estimate of $13.68 billion. Prudential Financial had a return on equity of 9.25% and a net margin of 13.57%. During the same quarter in the previous year, the business earned $2.79 EPS. analysts expect that Prudential Financial Inc will post 12.15 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Tuesday, May 22nd will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, May 21st. This represents a $3.60 annualized dividend and a dividend yield of 3.57%. Prudential Financial’s dividend payout ratio (DPR) is presently 34.03%.

Hedge funds have recently modified their holdings of the company. Raymond James & Associates lifted its holdings in shares of Prudential Financial by 13.6% in the 4th quarter. Raymond James & Associates now owns 197,126 shares of the financial services provider’s stock valued at $22,666,000 after buying an additional 23,565 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Prudential Financial in the 4th quarter valued at about $151,327,000. Banco de Sabadell S.A acquired a new position in shares of Prudential Financial in the 4th quarter valued at about $1,758,000. Geode Capital Management LLC lifted its holdings in shares of Prudential Financial by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 4,456,237 shares of the financial services provider’s stock valued at $511,299,000 after buying an additional 137,541 shares during the period. Finally, Cetera Advisor Networks LLC raised its holdings in Prudential Financial by 10.2% in the 4th quarter. Cetera Advisor Networks LLC now owns 5,142 shares of the financial services provider’s stock worth $586,000 after purchasing an additional 475 shares during the period. 64.48% of the stock is owned by institutional investors and hedge funds.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

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