Analysts Set Prudential Financial, Inc. (NYSE:PRU) PT at $126.15

Prudential Financial, Inc. (NYSE:PRU) has earned an average recommendation of “Hold” from the thirteen research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given 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 $126.15.

A number of analysts have commented on PRU shares. Piper Sandler lowered their target price 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. BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. Morgan Stanley cut their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Barclays boosted their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th.

Prudential Financial Stock Performance

NYSE:PRU opened at $110.35 on Friday. Prudential Financial has a 1 year low of $104.45 and a 1 year high of $130.55. The firm has a 50 day moving average of $113.57 and a 200-day moving average of $119.03. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $39.51 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, sell-side analysts anticipate that Prudential Financial will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.89%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is 72.29%.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their position. 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 institutional investors and hedge funds have recently made changes to their positions in PRU. Grove Bank & Trust lifted its holdings in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares during the period. Centricity Wealth Management LLC bought a new position in Prudential Financial in the 4th quarter valued at approximately $29,000. CGC Financial Services LLC lifted its stake in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in Prudential Financial in the 4th quarter valued at approximately $33,000. Finally, Quarry LP raised its stake in shares of Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 222 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

About Prudential Financial

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.