Prudential Financial, Inc. (NYSE:PRU) Receives Average Rating of “Hold” from Analysts

Prudential Financial, Inc. (NYSE:PRU) has earned an average rating of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $123.36.

A number of analysts have recently issued reports on PRU shares. Barclays began coverage on shares of Prudential Financial in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price objective for the company. Piper Sandler raised their price target on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Citigroup increased their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Finally, UBS Group upped their price target on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th.

Insider Buying and Selling at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Institutional Trading of Prudential Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creekmur Asset Management LLC grew its stake in shares of Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after buying an additional 108 shares during the last quarter. Lynx Investment Advisory purchased a new stake in Prudential Financial in the second quarter worth $29,000. Crewe Advisors LLC purchased a new stake in shares of Prudential Financial during the first quarter valued at $33,000. ESL Trust Services LLC bought a new position in shares of Prudential Financial in the first quarter worth about $34,000. Finally, Riverview Trust Co purchased a new position in Prudential Financial in the 1st quarter worth about $37,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

NYSE PRU opened at $118.90 on Friday. The business’s fifty day moving average is $116.95 and its 200 day moving average is $116.84. Prudential Financial has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $42.69 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. Sell-side analysts predict that Prudential Financial will post 13.3 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.37%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

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.