UBS Group Issues Positive Forecast for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its target price raised by UBS Group from $92.00 to $125.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

A number of other analysts have also recently commented on PRU. Morgan Stanley lowered their price objective on shares of Prudential Financial from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, October 19th. Weiss Ratings lowered Prudential Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Deutsche Bank decreased their target price on Prudential Financial from $105.00 to $102.00 and set a “hold” rating for the company in a research note on Friday, October 23rd. Wells Fargo & Company lowered their price target on Prudential Financial from $104.00 to $103.00 and set an “underweight” rating for the company in a report on Wednesday, October 28th. Finally, Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Monday, September 28th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, Prudential Financial currently has an average rating of “Reduce” and an average price target of $114.20.

Prudential Financial Trading Down 0.2%

Shares of NYSE PRU opened at $123.00 on Wednesday. Prudential Financial has a 1-year low of $91.89 and a 1-year high of $128.78. The company has a market cap of $42.19 billion, a PE ratio of 8.35, a P/E/G ratio of 1.95 and a beta of 0.85. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average of $117.26 and a two-hundred day moving average of $109.18.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.44. Prudential Financial had a net margin of 6.75% and a return on equity of 16.38%. The company had revenue of $14.45 billion for the quarter, compared to the consensus estimate of $14.66 billion. During the same period in the prior year, the company posted $4.26 EPS. As a group, equities analysts expect that Prudential Financial will post 13.60 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 24th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Tuesday, November 24th. Prudential Financial’s dividend payout ratio (DPR) is presently 50.96%.

Insider Activity at Prudential Financial

In related news, CEO Andrew Sullivan sold 3,544 shares of the company’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $121.32, for a total value of $429,958.08. Following the completion of the transaction, the chief executive officer directly owned 50,317 shares of the company’s stock, valued at approximately $6,104,458.44. This represents a 6.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert E. Boyle sold 2,794 shares of the stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $121.24, for a total value of $338,744.56. Following the transaction, the senior vice president owned 6,008 shares of the company’s stock, valued at approximately $728,409.92. This trade represents a 31.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 16,787 shares of company stock valued at $2,062,597. 0.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. lifted its stake in Prudential Financial by 164.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 225 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 140 shares in the last quarter. Team Financial Group LLC bought a new position in shares of Prudential Financial during the 3rd quarter worth approximately $27,000. Archer Investment Corp acquired a new stake in shares of Prudential Financial in the second quarter valued at approximately $26,000. Heritage Family Offices LLP acquired a new stake in shares of Prudential Financial in the third quarter valued at approximately $33,000. Finally, MADDEN SECURITIES Corp bought a new stake in shares of Prudential Financial in the third quarter worth $38,000. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial News Roundup

Here’s some of the latest news about PRU:

• Positive Sentiment: Prudential declared a quarterly dividend of $1.40 per share, equivalent to $5.60 annually and a yield of about 4.6%. The dividend supports the stock’s appeal to income-focused investors. Dividend announcement
• Neutral Sentiment: UBS raised its price target from $92 to $125 but maintained a neutral rating. The new target implies only about 1.6% upside from the cited $123 share price, suggesting limited near-term upside in the analyst’s view. UBS rating information
• Negative Sentiment: Three executives sold a combined 9,135 shares on November 6: CEO Andrew Sullivan, EVP Ann Kappler and SVP Robert Boyle. The sales may weigh on sentiment, although the filings do not give the executives’ reasons. Read More.; Read More.; Read More..

About Prudential Financial

Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.