Prudential Financial (PRU) Receives $117.82 Average Target Price from Analysts

Shares of Prudential Financial (NYSE:PRU) have earned a consensus recommendation of “Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $117.82.

PRU has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Tuesday, March 20th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $127.00 price objective on shares of Prudential Financial in a report on Thursday, December 21st. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Wells Fargo set a $122.00 price objective on shares of Prudential Financial and gave the company a “hold” rating in a report on Thursday, December 14th. Finally, UBS upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating in a report on Friday, March 2nd.

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Prudential Financial stock opened at $103.55 on Wednesday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $43,698.10, a PE ratio of 9.79, a P/E/G ratio of 1.07 and a beta of 1.54. Prudential Financial has a 12-month low of $97.88 and a 12-month high of $127.14.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.05. The business had revenue of $15.25 billion during the quarter, compared to analysts’ expectations of $12.87 billion. Prudential Financial had a net margin of 13.41% and a return on equity of 9.29%. During the same period last year, the firm posted $2.46 earnings per share. sell-side analysts anticipate that Prudential Financial will post 12.07 EPS for the current fiscal year.

Prudential Financial announced that its board has approved a stock repurchase plan on Thursday, December 14th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 21st were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a yield of 3.48%. Prudential Financial’s dividend payout ratio is currently 34.03%.

In related news, SVP Barbara Koster sold 16,801 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $115.17, for a total transaction of $1,934,971.17. Following the completion of the sale, the senior vice president now directly owns 37,327 shares of the company’s stock, valued at $4,298,950.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen Pelletier sold 40,729 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $108.75, for a total transaction of $4,429,278.75. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in PRU. Geode Capital Management LLC lifted its position in shares of Prudential Financial by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 4,456,237 shares of the financial services provider’s stock valued at $511,299,000 after acquiring an additional 137,541 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Prudential Financial by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 2,341,330 shares of the financial services provider’s stock valued at $248,931,000 after acquiring an additional 52,597 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Prudential Financial by 1.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,994,321 shares of the financial services provider’s stock valued at $229,307,000 after acquiring an additional 34,046 shares in the last quarter. Millennium Management LLC lifted its position in shares of Prudential Financial by 45.5% in the 4th quarter. Millennium Management LLC now owns 1,818,479 shares of the financial services provider’s stock valued at $209,089,000 after acquiring an additional 568,343 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Prudential Financial by 0.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,772,276 shares of the financial services provider’s stock valued at $203,776,000 after acquiring an additional 15,896 shares in the last quarter. 66.76% of the stock is owned by institutional investors and hedge funds.

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About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

Analyst Recommendations for Prudential Financial (NYSE:PRU)

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