Prudential Financial, Inc. (NYSE:PRU) Receives Consensus Recommendation of “Hold” from Brokerages

Prudential Financial, Inc. (NYSE:PRU) has been assigned an average rating of “Hold” from the thirteen analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $126.15.

A number of research analysts recently commented on the company. Morgan Stanley decreased their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company upped their price objective on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. BMO Capital Markets began coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. Barclays increased their price objective on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Finally, Jefferies Financial Group lifted their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

Prudential Financial Stock Down 0.9 %

Prudential Financial stock opened at $114.50 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market cap of $40.99 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The business’s 50-day moving average price is $113.27 and its 200 day moving average price is $118.95. Prudential Financial has a 52 week low of $104.45 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate 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 earnings per share for the current 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 issued a dividend of $1.35 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Insider Buying and Selling at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were 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 in the company, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the transaction, the insider now owns 139,987 shares in the company, valued at approximately $3,992,429.24. The trade was a 60.18 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Large investors have recently made changes to their positions in the company. 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 worth $26,000 after acquiring an additional 87 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Prudential Financial in the 4th quarter worth $29,000. CGC Financial Services LLC grew its stake 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 worth $33,000 after purchasing an additional 124 shares during the period. Wingate Wealth Advisors Inc. bought a new stake in Prudential Financial in the fourth quarter valued at about $33,000. Finally, Quarry LP boosted its holdings in Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after buying an additional 222 shares during 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.