Prudential Financial Inc (PRU) Given Buy Rating at Keefe, Bruyette & Woods
Prudential Financial Inc (NYSE:PRU)‘s stock had its “buy” rating restated by stock analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Tuesday. They currently have a $117.00 target price on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 7.22% from the company’s previous close.
PRU has been the topic of several other research reports. Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, December 6th. Bank of America Corp raised shares of Prudential Financial from an “underperform” rating to a “buy” rating in a research report on Wednesday, December 7th. FBR & Co reissued a “market perform” rating and issued a $100.00 price target (up previously from $86.00) on shares of Prudential Financial in a research report on Tuesday, November 29th. Morgan Stanley lowered shares of Prudential Financial from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $109.00 to $110.00 in a research report on Wednesday, December 14th. They noted that the move was a valuation call. Finally, Citigroup Inc initiated coverage on shares of Prudential Financial in a research report on Thursday, January 26th. They issued a “neutral” rating and a $103.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Prudential Financial has an average rating of “Buy” and an average target price of $101.25.
Shares of Prudential Financial (NYSE:PRU) opened at 109.12 on Tuesday. The firm has a 50-day moving average of $109.65 and a 200-day moving average of $97.37. Prudential Financial has a 12 month low of $66.51 and a 12 month high of $114.55. The firm has a market cap of $46.92 billion, a price-to-earnings ratio of 11.24 and a beta of 1.69.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, February 8th. The company reported $2.46 earnings per share (EPS) for the quarter, beating 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 last year, the company earned $1.94 EPS. On average, analysts anticipate that Prudential Financial will post $10.43 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Wednesday, February 22nd were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Friday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.70. Prudential Financial’s dividend payout ratio is 28.90%.
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In other Prudential Financial news, EVP Timothy P. Harris sold 6,087 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $110.75, for a total value of $674,135.25. Following the completion of the transaction, the executive vice president now owns 26,022 shares of the company’s stock, valued at approximately $2,881,936.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Barbara Koster sold 33,743 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $112.87, for a total transaction of $3,808,572.41. Following the completion of the transaction, the insider now directly owns 45,245 shares of the company’s stock, valued at approximately $5,106,803.15. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Oakworth Capital Inc. boosted its position in Prudential Financial by 21.8% in the third quarter. Oakworth Capital Inc. now owns 1,297 shares of the company’s stock worth $106,000 after buying an additional 232 shares in the last quarter. Norway Savings Bank bought a new position in Prudential Financial during the fourth quarter worth approximately $120,000. Global X Management Co. LLC boosted its position 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 worth $122,000 after buying an additional 1,089 shares in the last quarter. Seven Eight Capital LP bought a new position in Prudential Financial during the fourth quarter worth approximately $130,000. Finally, Tradewinds Capital Management LLC boosted its position in Prudential Financial by 2.8% in the third quarter. Tradewinds Capital Management LLC now owns 1,601 shares of the company’s stock worth $131,000 after buying an additional 43 shares in the last quarter. 60.91% of the stock is owned by institutional investors and hedge funds.
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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