Prudential Financial Inc (NYSE:PRU) has earned a consensus recommendation of “Buy” from the fifteen research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $120.00.
Several research firms have issued reports on PRU. Goldman Sachs Group upgraded shares of Prudential Financial from a “buy” rating to a “conviction-buy” rating in a report on Monday, September 10th. Morgan Stanley lowered their price target on shares of Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating for the company in a report on Thursday, November 8th. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a report on Monday, October 8th. ValuEngine upgraded shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 4th. Finally, UBS Group raised their price target on shares of Prudential Financial from $125.00 to $126.00 and gave the stock a “buy” rating in a report on Monday, October 8th.
NYSE:PRU traded down $1.47 during mid-day trading on Monday, hitting $85.87. 2,914,461 shares of the company’s stock were exchanged, compared to its average volume of 2,158,873. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.11 and a quick ratio of 0.11. Prudential Financial has a fifty-two week low of $84.51 and a fifty-two week high of $127.14. The company has a market cap of $36.07 billion, a PE ratio of 8.12, a P/E/G ratio of 0.76 and a beta of 1.41.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Monday, November 26th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $3.60 annualized dividend and a yield of 4.19%. Prudential Financial’s payout ratio is 34.03%.
In related news, major shareholder Prudential Financial Inc acquired 880,000 shares of the stock in a transaction dated Tuesday, October 16th. The stock was bought at an average price of $25.00 per share, for a total transaction of $22,000,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott Sleyster sold 23,300 shares of Prudential Financial stock in a transaction on Friday, September 28th. The shares were sold at an average price of $99.74, for a total transaction of $2,323,942.00. Following the completion of the sale, the insider now owns 57,758 shares of the company’s stock, valued at approximately $5,760,782.92. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Natixis increased its stake in shares of Prudential Financial by 6,036.0% in the 2nd quarter. Natixis now owns 845,049 shares of the financial services provider’s stock valued at $79,021,000 after acquiring an additional 831,277 shares in the last quarter. NEXT Financial Group Inc bought a new stake in shares of Prudential Financial in the 3rd quarter valued at $232,000. Putnam Investments LLC increased its stake in shares of Prudential Financial by 4.3% in the 2nd quarter. Putnam Investments LLC now owns 382,036 shares of the financial services provider’s stock valued at $35,724,000 after acquiring an additional 15,636 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Prudential Financial by 31.2% in the 2nd quarter. Renaissance Technologies LLC now owns 822,747 shares of the financial services provider’s stock valued at $76,935,000 after acquiring an additional 195,647 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC bought a new stake in shares of Prudential Financial in the 3rd quarter valued at $3,965,000. Institutional investors own 63.75% of the company’s stock.
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.
Featured Story: How are Outstanding Shares Different from Authorized Shares?
Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.