Prudential Financial, Inc. (NYSE:PRU) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Prudential Financial, Inc. (NYSE:PRU) have earned a consensus rating of “Hold” from the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $126.33.

A number of brokerages have issued reports on PRU. TD Cowen boosted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Wells Fargo & Company boosted their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Barclays lifted their price objective on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and increased their target price for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Finally, Piper Sandler lifted their price target on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Several hedge funds and other institutional investors have recently bought and sold shares of PRU. Van ECK Associates Corp lifted its position in Prudential Financial by 29.2% during the second quarter. Van ECK Associates Corp now owns 11,775 shares of the financial services provider’s stock valued at $1,380,000 after purchasing an additional 2,663 shares during the period. Foundations Investment Advisors LLC grew its holdings in shares of Prudential Financial by 5.6% in the second quarter. Foundations Investment Advisors LLC now owns 3,941 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 208 shares during the period. Larson Financial Group LLC increased its position in Prudential Financial by 66.5% during the second quarter. Larson Financial Group LLC now owns 606 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 242 shares during the last quarter. TD Asset Management Inc lifted its holdings in Prudential Financial by 55.4% in the second quarter. TD Asset Management Inc now owns 209,395 shares of the financial services provider’s stock valued at $24,539,000 after acquiring an additional 74,665 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Prudential Financial by 18.5% during the 2nd quarter. Victory Capital Management Inc. now owns 401,045 shares of the financial services provider’s stock valued at $46,998,000 after purchasing an additional 62,487 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

PRU stock opened at $119.14 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm’s 50-day moving average price is $123.17 and its two-hundred day moving average price is $120.61. The stock has a market capitalization of $42.41 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 0.87 and a beta of 1.29. Prudential Financial has a 12-month low of $100.60 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the company posted $3.44 EPS. As a group, equities analysts predict that Prudential Financial will post 13.35 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.36%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.