Prudential Financial (PRU) PT Raised to $126.00 at UBS Group

Prudential Financial (NYSE:PRU) had its target price lifted by UBS Group from $125.00 to $126.00 in a research report sent to investors on Monday, www.benzinga.com reports. UBS Group currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on the company. Goldman Sachs Group raised Prudential Financial from a buy rating to a conviction-buy rating in a research report on Monday, September 10th. ValuEngine raised Prudential Financial from a strong sell rating to a sell rating in a research report on Tuesday, September 4th. Credit Suisse Group dropped their target price on Prudential Financial from $102.00 to $98.00 and set a neutral rating on the stock in a research report on Friday, August 17th. B. Riley increased their price target on Prudential Financial from $116.00 to $124.00 and gave the stock a buy rating in a research note on Tuesday, August 7th. Finally, Zacks Investment Research raised Prudential Financial from a hold rating to a buy rating and set a $111.00 price target for the company in a research note on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $117.47.

Shares of NYSE PRU opened at $105.99 on Monday. Prudential Financial has a 1-year low of $92.05 and a 1-year high of $127.14. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $42.25 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 0.93 and a beta of 1.48.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, August 1st. The financial services provider reported $3.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.08 by ($0.07). Prudential Financial had a return on equity of 9.98% and a net margin of 13.16%. The company had revenue of $13.04 billion during the quarter, compared to analyst estimates of $14.19 billion. During the same period in the prior year, the business earned $2.09 earnings per share. Sell-side analysts anticipate that Prudential Financial will post 12.14 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 13th. Stockholders of record on Tuesday, August 21st were paid a $0.90 dividend. The ex-dividend date of this dividend was Monday, August 20th. This represents a $3.60 annualized dividend and a dividend yield of 3.40%. Prudential Financial’s payout ratio is 34.03%.

In other news, insider Scott Sleyster sold 23,300 shares of the stock in a transaction on Friday, September 28th. The stock was sold at an average price of $99.74, for a total value of $2,323,942.00. Following the completion of the transaction, the insider now owns 57,758 shares of the company’s stock, valued at $5,760,782.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders sold 23,349 shares of company stock valued at $2,327,695. Company insiders own 0.61% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Martingale Asset Management L P boosted its stake in Prudential Financial by 5.0% during the second quarter. Martingale Asset Management L P now owns 10,981 shares of the financial services provider’s stock valued at $1,027,000 after buying an additional 520 shares in the last quarter. Whittier Trust Co. boosted its stake in Prudential Financial by 0.6% during the second quarter. Whittier Trust Co. now owns 92,888 shares of the financial services provider’s stock valued at $8,686,000 after buying an additional 540 shares in the last quarter. World Asset Management Inc boosted its stake in Prudential Financial by 2.2% during the second quarter. World Asset Management Inc now owns 26,268 shares of the financial services provider’s stock valued at $2,456,000 after buying an additional 559 shares in the last quarter. Buckingham Capital Management Inc. boosted its stake in Prudential Financial by 3.3% during the second quarter. Buckingham Capital Management Inc. now owns 18,085 shares of the financial services provider’s stock valued at $1,691,000 after buying an additional 570 shares in the last quarter. Finally, Polianta Ltd boosted its stake in Prudential Financial by 5.3% during the second quarter. Polianta Ltd now owns 12,000 shares of the financial services provider’s stock valued at $1,122,000 after buying an additional 600 shares in the last quarter. 63.59% of the stock is owned by institutional investors.

Prudential Financial Company Profile

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.

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