Prudential Financial, Inc. (NYSE:PRU) Receives $121.92 Consensus Price Target from Analysts

Shares of Prudential Financial, Inc. (NYSE:PRU) have been given a consensus recommendation of “Hold” by the thirteen analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, ten have given 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 issued a report on the stock in the last year is $121.92.

Several equities analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Piper Sandler reduced their price objective on Prudential Financial from $110.00 to $109.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. UBS Group reduced their price objective on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Finally, BMO Capital Markets started coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock.

Prudential Financial Stock Performance

Prudential Financial stock opened at $106.16 on Friday. The stock has a market cap of $37.58 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. 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 stock has a 50 day moving average of $104.66 and a 200-day moving average of $114.31. Prudential Financial has a 52 week low of $90.38 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The firm had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $14.76 billion. During the same period last year, the business posted $3.12 earnings per share. The firm’s revenue for the quarter was down 38.2% on a year-over-year basis. On average, analysts expect that Prudential Financial will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Tuesday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is 85.58%.

Insider Activity

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This trade represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the stock in a transaction dated 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 acquisition, the insider now directly owns 139,987 shares of the company’s stock, valued at approximately $3,992,429.24. This trade represents a 60.18% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PRU. Grove Bank & Trust grew its holdings in Prudential Financial by 65.9% during the fourth 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. Meeder Asset Management Inc. grew its holdings in Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 111 shares during the period. Cheviot Value Management LLC acquired a new position in Prudential Financial during the first quarter worth about $26,000. North Capital Inc. acquired a new position in Prudential Financial during the first quarter worth about $28,000. Finally, AlphaQuest LLC grew its holdings in Prudential Financial by 12,250.0% during the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 245 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

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.