Prudential Financial (NYSE:PRU) Reaches New 12-Month Low – What’s Next?

Prudential Financial, Inc. (NYSE:PRU) hit a new 52-week low during trading on Friday . The stock traded as low as $99.00 and last traded at $100.69, with a volume of 8339 shares. The stock had previously closed at $104.79.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of research reports. Jefferies Financial Group raised their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Barclays raised their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. BMO Capital Markets started coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. UBS Group lowered their price objective on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Morgan Stanley reduced their price target on 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $126.08.

Prudential Financial Stock Down 8.1 %

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 firm has a 50 day simple moving average of $112.03 and a two-hundred day simple moving average of $118.63. The company has a market capitalization of $34.12 billion, a PE ratio of 12.89, a P/E/G ratio of 0.98 and a beta of 1.11.

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

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a $1.35 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 5.61%. Prudential Financial’s dividend payout ratio is 72.29%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of Prudential Financial stock in a transaction on Tuesday, March 25th. The shares were acquired at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the transaction, the insider now owns 139,987 shares of the company’s stock, valued at $3,992,429.24. This represents a 60.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PRU. Grove Bank & Trust grew its holdings in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in Prudential Financial in the fourth quarter valued at $29,000. CGC Financial Services LLC raised its holdings in shares of Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after buying an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in shares of Prudential Financial in the fourth quarter worth $33,000. Finally, Quarry LP boosted its holdings in shares of Prudential Financial by 376.3% in 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 in the last quarter. Institutional investors and hedge funds 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.