Prudential Financial, Inc. (NYSE:PRU) Receives $82.43 Consensus PT from Analysts

Shares of Prudential Financial, Inc. (NYSE:PRU) have been assigned a consensus rating of “Hold” from the sixteen research firms that are currently covering the company, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $84.14.

A number of brokerages recently issued reports on PRU. TheStreet downgraded Prudential Financial from a “b-” rating to a “c” rating in a research report on Thursday, February 4th. Morgan Stanley lifted their target price on Prudential Financial from $90.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 1st. Citigroup lifted their target price on Prudential Financial from $83.00 to $97.00 in a research report on Wednesday, March 31st. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating and set a $94.00 target price for the company in a research report on Thursday, February 25th. Finally, Royal Bank of Canada lifted their target price on Prudential Financial from $82.00 to $92.00 in a research report on Thursday.

In other Prudential Financial news, Director Wendy Elizabeth Jones acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, February 9th. The stock was acquired at an average cost of $80.98 per share, for a total transaction of $80,980.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $80,980. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kenneth Tanji sold 29,285 shares of the business’s stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $90.94, for a total value of $2,663,177.90. Following the completion of the sale, the chief financial officer now owns 36,477 shares of the company’s stock, valued at $3,317,218.38. The disclosure for this sale can be found here. Insiders sold 42,485 shares of company stock valued at $3,876,812 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. KMG Fiduciary Partners LLC increased its position in shares of Prudential Financial by 26.1% during the first quarter. KMG Fiduciary Partners LLC now owns 11,005 shares of the financial services provider’s stock worth $1,003,000 after purchasing an additional 2,280 shares in the last quarter. First American Bank increased its position in shares of Prudential Financial by 5.0% during the first quarter. First American Bank now owns 20,134 shares of the financial services provider’s stock worth $1,834,000 after purchasing an additional 955 shares in the last quarter. Lowe Wealth Advisors LLC increased its position in shares of Prudential Financial by 2,927.6% during the first quarter. Lowe Wealth Advisors LLC now owns 2,301 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 2,225 shares in the last quarter. Carroll Financial Associates Inc. increased its position in shares of Prudential Financial by 21.4% during the first quarter. Carroll Financial Associates Inc. now owns 941 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 166 shares in the last quarter. Finally, Private Trust Co. NA purchased a new stake in shares of Prudential Financial during the first quarter worth approximately $248,000. Institutional investors and hedge funds own 54.50% of the company’s stock.

PRU traded down $0.98 during trading on Thursday, reaching $92.97. The company had a trading volume of 1,205,881 shares, compared to its average volume of 2,430,298. The stock has a market cap of $36.76 billion, a P/E ratio of -258.33, a PEG ratio of 1.72 and a beta of 1.72. The business has a 50 day simple moving average of $90.02 and a 200-day simple moving average of $78.23. Prudential Financial has a 52 week low of $48.52 and a 52 week high of $95.49. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.30.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Thursday, February 4th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.43. The company had revenue of $15.08 billion during the quarter, compared to the consensus estimate of $13.98 billion. Prudential Financial had a positive return on equity of 6.06% and a negative net margin of 0.12%. As a group, equities research analysts expect that Prudential Financial will post 9.82 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 11th. Shareholders of record on Tuesday, February 16th were issued a $1.15 dividend. The ex-dividend date of this dividend was Friday, February 12th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.10. This represents a $4.60 dividend on an annualized basis and a yield of 4.95%. Prudential Financial’s payout ratio is presently 39.35%.

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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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