Shares of Prudential Financial, Inc. (NYSE:PRU – Get Rating) have been given an average recommendation of "Hold" by the fifteen analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $104.15.
A number of research analysts have issued reports on the company. Barclays decreased their target price on Prudential Financial from $115.00 to $95.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 13th. The Goldman Sachs Group lowered their price target on Prudential Financial from $116.00 to $99.00 and set a "neutral" rating on the stock in a research report on Monday, June 6th. Morgan Stanley boosted their target price on shares of Prudential Financial from $103.00 to $108.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 17th. JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $120.00 to $122.00 in a research note on Monday, July 11th. Finally, Wells Fargo & Company increased their price target on shares of Prudential Financial from $95.00 to $101.00 and gave the company an "equal weight" rating in a research note on Thursday, August 4th.
Get Prudential Financial alerts:Prudential Financial Trading Down 0.6 %
PRU opened at $85.78 on Monday. The firm's fifty day moving average is $96.63 and its two-hundred day moving average is $102.34. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market cap of $31.91 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 0.96 and a beta of 1.40. Prudential Financial has a twelve month low of $85.46 and a twelve month high of $124.22.
Prudential Financial (NYSE:PRU – Get Rating) last posted its earnings results on Tuesday, August 2nd. The financial services provider reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.88). Prudential Financial had a return on equity of 9.25% and a net margin of 3.52%. The firm had revenue of $13.77 billion during the quarter, compared to analyst estimates of $12.56 billion. Equities research analysts anticipate that Prudential Financial will post 10.03 EPS for the current year.Prudential Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $4.80 annualized dividend and a yield of 5.60%. Prudential Financial's payout ratio is currently 88.89%.
Institutional Trading of Prudential Financial
Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Prudential Financial in the fourth quarter valued at about $283,466,000. First Trust Advisors LP raised its position in shares of Prudential Financial by 318.2% in the first quarter. First Trust Advisors LP now owns 2,375,383 shares of the financial services provider's stock valued at $280,699,000 after buying an additional 1,807,375 shares in the last quarter. Cowa LLC raised its position in shares of Prudential Financial by 9,930.2% in the first quarter. Cowa LLC now owns 771,824 shares of the financial services provider's stock valued at $912,000 after buying an additional 764,129 shares in the last quarter. Mariner LLC raised its position in shares of Prudential Financial by 2,197.4% in the first quarter. Mariner LLC now owns 690,184 shares of the financial services provider's stock valued at $81,560,000 after buying an additional 660,142 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Prudential Financial by 1.9% in the first quarter. Vanguard Group Inc. now owns 31,119,980 shares of the financial services provider's stock valued at $3,677,448,000 after buying an additional 577,475 shares in the last quarter. 57.74% of the stock is owned by institutional investors and hedge funds.
About Prudential Financial
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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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.
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