Prudential Financial (NYSE:PRU) Research Coverage Started at BMO Capital Markets

BMO Capital Markets began coverage on shares of Prudential Financial (NYSE:PRU) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued an underperform rating and a $101.00 price objective on the financial services provider’s stock.

Several other research firms also recently issued reports on PRU. Wells Fargo & Company dropped their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Keefe, Bruyette & Woods cut their price target on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a report on Thursday, January 16th. Piper Sandler decreased their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Bank of America upped their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price objective for the company from $117.00 to $140.00 in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $125.31.

Prudential Financial Trading Up 0.3 %

PRU opened at $117.22 on Thursday. The firm’s 50 day moving average is $121.29 and its 200-day moving average is $120.66. Prudential Financial has a 52-week low of $100.60 and a 52-week high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $41.73 billion, a P/E ratio of 10.42, a P/E/G ratio of 1.09 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the business posted $3.44 EPS. Analysts expect that Prudential Financial will post 13.24 EPS for the current fiscal 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 paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Grove Bank & Trust boosted its stake in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Prudential Financial by 1.2% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 89 shares in the last quarter. Asset Dedication LLC grew its stake in shares of Prudential Financial by 28.4% in the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 93 shares during the last quarter. Daymark Wealth Partners LLC lifted its stake in Prudential Financial by 3.9% during the third quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 97 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Prudential Financial by 2.7% during the third quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock worth $443,000 after buying an additional 97 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

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.