JPMorgan Chase & Co. Cuts Prudential Financial (NYSE:PRU) Price Target to $127.00

Prudential Financial (NYSE:PRUFree Report) had its price objective lowered by JPMorgan Chase & Co. from $133.00 to $127.00 in a research note released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

PRU has been the subject of several other reports. Morgan Stanley increased their price objective on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Barclays reduced their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. UBS Group raised their target price on Prudential Financial from $111.00 to $116.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Weiss Ratings upgraded shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Finally, Wall Street Zen cut Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. One research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $118.44.

View Our Latest Analysis on PRU

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $102.88 on Wednesday. Prudential Financial has a 12-month low of $90.38 and a 12-month high of $119.76. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The company has a market cap of $36.01 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 1.13 and a beta of 0.97. The company’s fifty day moving average is $112.44 and its two-hundred day moving average is $107.39.

Prudential Financial (NYSE:PRUGet Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.07). The business had revenue of $14.52 billion for the quarter, compared to analyst estimates of $14.48 billion. Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. During the same period in the previous year, the firm posted $2.96 earnings per share. Equities analysts expect that Prudential Financial will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 annualized dividend and a dividend yield of 5.4%. Prudential Financial’s dividend payout ratio (DPR) is 54.00%.

Insiders Place Their Bets

In other Prudential Financial news, SVP Timothy L. Schmidt sold 8,000 shares of Prudential Financial stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total value of $861,520.00. Following the completion of the transaction, the senior vice president owned 11,535 shares in the company, valued at approximately $1,242,204.15. The trade was a 40.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 1,406,739 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was acquired at an average cost of $24.87 per share, with a total value of $34,985,598.93. Following the completion of the acquisition, the insider directly owned 7,709,624 shares of the company’s stock, valued at $191,738,348.88. The trade was a 22.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 62,719 shares of company stock valued at $6,796,067. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Prudential Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sunflower Bank N.A. raised its holdings in Prudential Financial by 3.2% in the 4th quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 91 shares during the period. Wetzel Investment Advisors Inc. increased its position in Prudential Financial by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider’s stock worth $1,131,000 after buying an additional 94 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Prudential Financial by 0.3% in the third quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock worth $2,987,000 after buying an additional 97 shares during the period. Proffitt & Goodson Inc. lifted its position in shares of Prudential Financial by 12.7% during the 2nd quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock valued at $94,000 after buying an additional 98 shares in the last quarter. Finally, Transcend Capital Advisors LLC grew its stake in shares of Prudential Financial by 2.4% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 98 shares during the period. 56.83% of the stock is owned by institutional investors.

More Prudential Financial News

Here are the key news stories impacting Prudential Financial this week:

About Prudential Financial

(Get Free Report)

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

Featured Articles

Analyst Recommendations for Prudential Financial (NYSE:PRU)

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.