Brokerages Set Prudential Financial, Inc. (PRU) Price Target at $96.36
Prudential Financial, Inc. (NYSE:PRU) has been assigned an average recommendation of “Buy” from the twenty brokerages that are covering the stock. Ten research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $96.92.
Several research firms recently weighed in on PRU. Zacks Investment Research downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Friday, February 10th. Atlantic Securities downgraded shares of Prudential Financial from an “overweight” rating to a “neutral” rating in a report on Friday, February 10th. They noted that the move was a valuation call. Citigroup Inc. began coverage on shares of Prudential Financial in a report on Thursday, January 26th. They issued a “neutral” rating and a $103.00 price objective for the company. Barclays PLC reaffirmed a “buy” rating and issued a $117.00 price objective on shares of Prudential Financial in a report on Monday, January 9th. Finally, Morgan Stanley downgraded shares of Prudential Financial from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $109.00 to $110.00 in a report on Wednesday, December 14th. They noted that the move was a valuation call.
A number of hedge funds have recently bought and sold shares of the company. Oakworth Capital Inc. increased its stake in Prudential Financial by 21.8% in the third quarter. Oakworth Capital Inc. now owns 1,297 shares of the company’s stock valued at $106,000 after buying an additional 232 shares during the last quarter. Norway Savings Bank bought a new stake in Prudential Financial during the fourth quarter valued at about $120,000. Global X Management Co. LLC increased its stake in Prudential Financial by 272.3% in the third quarter. Global X Management Co. LLC now owns 1,489 shares of the company’s stock valued at $122,000 after buying an additional 1,089 shares during the last quarter. Seven Eight Capital LP bought a new stake in Prudential Financial during the fourth quarter valued at about $130,000. Finally, Tradewinds Capital Management LLC increased its stake in Prudential Financial by 2.8% in the third quarter. Tradewinds Capital Management LLC now owns 1,601 shares of the company’s stock valued at $131,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 60.91% of the company’s stock.
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Prudential Financial (NYSE:PRU) opened at 111.36 on Friday. The stock has a market cap of $47.88 billion, a P/E ratio of 10.50 and a beta of 1.69. The firm’s 50 day moving average price is $106.25 and its 200-day moving average price is $92.20. Prudential Financial has a 12-month low of $62.62 and a 12-month high of $112.28.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, February 8th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.14. Prudential Financial had a net margin of 7.63% and a return on equity of 7.96%. During the same period in the prior year, the company earned $1.94 earnings per share. Equities research analysts anticipate that Prudential Financial will post $10.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 16th. Shareholders of record on Wednesday, February 22nd will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Friday, February 17th. This is an increase from Prudential Financial’s previous quarterly dividend of $0.70. Prudential Financial’s payout ratio is presently 28.90%.
Prudential Financial Company Profile
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.
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