Prudential Financial (NYSE:PRU) Now Covered by Analysts at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Prudential Financial (NYSE:PRU) in a report published on Thursday morning, Marketbeat Ratings reports. The brokerage issued an underperform rating and a $101.00 target price on the financial services provider’s stock.

A number of other research analysts have also weighed in on PRU. Barclays decreased their target price on Prudential Financial from $129.00 to $127.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. TD Cowen increased 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. Piper Sandler reduced 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. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price objective for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Finally, Bank of America upped their target price on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus price target of $125.31.

Prudential Financial Price Performance

Shares of PRU opened at $116.75 on Thursday. The company has a market cap of $41.56 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 1.11 and a beta of 1.31. 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 company’s fifty day simple moving average is $121.68 and its 200 day simple moving average is $120.69. Prudential Financial has a 1-year low of $100.60 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating 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 company had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the prior year, the firm earned $3.44 EPS. On average, research analysts forecast that Prudential Financial will post 13.26 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s payout ratio is currently 46.22%.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC boosted its stake in Prudential Financial by 4,130.8% in the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after buying an additional 1,267,571 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Prudential Financial by 176.8% in the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock worth $123,804,000 after acquiring an additional 665,180 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Prudential Financial by 97.4% during the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after purchasing an additional 357,300 shares during the last quarter. FMR LLC increased its position in Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after purchasing an additional 344,254 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after purchasing an additional 341,787 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

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.