Prudential Financial (PRU) Earns Buy Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their buy rating on shares of Prudential Financial (NYSE:PRU) in a research report report published on Wednesday. They currently have a $113.00 target price on the financial services provider’s stock.

A number of other research firms have also weighed in on PRU. Zacks Investment Research upgraded Prudential Financial from a hold rating to a buy rating and set a $117.00 price target for the company in a research report on Monday, October 8th. ValuEngine lowered Prudential Financial from a sell rating to a strong sell rating in a research report on Friday, November 16th. Morgan Stanley decreased their price target on Prudential Financial from $122.00 to $120.00 and set an equal weight rating for the company in a research report on Thursday, November 8th. Wells Fargo & Co initiated coverage on Prudential Financial in a research report on Tuesday. They issued an outperform rating and a $105.00 price target for the company. Finally, UBS Group increased their price target on Prudential Financial from $125.00 to $126.00 and gave the company a buy rating in a research report on Monday, October 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $114.19.

NYSE:PRU opened at $87.74 on Wednesday. The stock has a market cap of $35.88 billion, a P/E ratio of 8.29, a PEG ratio of 0.75 and a beta of 1.40. Prudential Financial has a 52-week low of $75.61 and a 52-week high of $127.14. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.37.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $3.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.16 by ($0.01). Prudential Financial had a net margin of 12.59% and a return on equity of 10.20%. The company had revenue of $14.43 billion during the quarter, compared to analyst estimates of $13.51 billion. During the same quarter last year, the business earned $3.01 EPS. Sell-side analysts anticipate that Prudential Financial will post 12.14 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 13th. Shareholders of record on Monday, November 26th were given a dividend of $0.90 per share. The ex-dividend date was Friday, November 23rd. This represents a $3.60 dividend on an annualized basis and a yield of 4.10%. Prudential Financial’s payout ratio is presently 34.03%.

In other Prudential Financial news, major shareholder Prudential Financial Inc acquired 880,000 shares of the firm’s stock in a transaction on Tuesday, October 16th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $22,000,000.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have acquired a total of 880,315 shares of company stock valued at $22,026,194 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. LSV Asset Management boosted its position in Prudential Financial by 0.8% during the 3rd quarter. LSV Asset Management now owns 3,541,374 shares of the financial services provider’s stock worth $358,812,000 after acquiring an additional 27,870 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of Prudential Financial by 31.9% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,468,515 shares of the financial services provider’s stock valued at $351,430,000 after buying an additional 839,309 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Prudential Financial by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,365,815 shares of the financial services provider’s stock valued at $341,024,000 after buying an additional 13,097 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Prudential Financial by 3.2% during the 3rd quarter. Morgan Stanley now owns 3,208,212 shares of the financial services provider’s stock valued at $325,058,000 after buying an additional 100,223 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Prudential Financial by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 2,050,421 shares of the financial services provider’s stock valued at $207,720,000 after buying an additional 56,038 shares during the last quarter. Hedge funds and other institutional investors own 63.40% of the company’s stock.

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.

Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?

Analyst Recommendations for Prudential Financial (NYSE:PRU)

Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit