Prudential Financial (NYSE:PRU) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Prudential Financial (NYSE:PRU) from a buy rating to a hold rating in a research report released on Saturday morning.

Several other equities analysts have also recently weighed in on PRU. Keefe, Bruyette & Woods lifted their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Mizuho assumed coverage on Prudential Financial in a report on Tuesday, December 16th. They set a “neutral” rating and a $125.00 price target on the stock. Morgan Stanley increased their price objective on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Barclays decreased their price objective on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Finally, Wolfe Research started coverage on Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Eleven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $118.60.

Prudential Financial Trading Down 0.3%

NYSE:PRU opened at $117.76 on Friday. The stock has a fifty day simple moving average of $111.27 and a 200 day simple moving average of $106.98. The firm has a market capitalization of $41.22 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 0.94 and a beta of 0.97. Prudential Financial has a 1-year low of $90.38 and a 1-year high of $123.88. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The company had revenue of $8.35 billion during the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. Sell-side analysts forecast that Prudential Financial will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 74.18%.

Insiders Place Their Bets

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $107.39, for a total value of $5,172,331.96. Following the transaction, the chairman directly owned 165,564 shares in the company, valued at approximately $17,779,917.96. This trade represents a 22.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Timothy L. Schmidt sold 8,000 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total value of $861,520.00. Following the transaction, the senior vice president directly owned 11,535 shares of the company’s stock, valued at $1,242,204.15. This represents a 40.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 62,719 shares of company stock valued at $6,796,067 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of Prudential Financial

Hedge funds have recently modified their holdings of the company. Wealth Watch Advisors INC acquired a new stake in Prudential Financial during the third quarter valued at approximately $30,000. Chilton Capital Management LLC raised its holdings in shares of Prudential Financial by 146.5% in the 3rd quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock worth $36,000 after buying an additional 208 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Prudential Financial during the 2nd quarter worth approximately $36,000. AlphaCore Capital LLC acquired a new stake in Prudential Financial in the 2nd quarter valued at $39,000. Finally, Capital A Wealth Management LLC raised its stake in Prudential Financial by 4,600.0% during the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 368 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.