Analysts Set Prudential Financial, Inc. (NYSE:PRU) PT at $118.44

Shares of Prudential Financial, Inc. (NYSE:PRU) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are covering the company, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $117.1111.

Several analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. Evercore decreased their target price on shares of Prudential Financial from $122.00 to $110.00 and set an “in-line” rating for the company in a research note on Thursday, February 5th. Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings upgraded Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Finally, JPMorgan Chase & Co. lowered their target price on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th.

Insider Buying and Selling

In other Prudential Financial news, EVP Jacques Chappuis purchased 1,000 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were acquired at an average price of $100.97 per share, for a total transaction of $100,970.00. Following the acquisition, the executive vice president owned 1,000 shares of the company’s stock, valued at $100,970. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph J. Wolk acquired 400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was acquired at an average price of $105.32 per share, with a total value of $42,128.00. Following the completion of the acquisition, the director directly owned 400 shares of the company’s stock, valued at $42,128. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 1,408,139 shares of company stock valued at $35,128,697. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Prudential Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRU. Jessup Wealth Management Inc bought a new position in shares of Prudential Financial in the fourth quarter valued at approximately $25,000. Salomon & Ludwin LLC raised its holdings in Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 114 shares during the period. Lodestone Wealth Management LLC acquired a new position in Prudential Financial during the 4th quarter worth $28,000. Coston McIsaac & Partners boosted its holdings in Prudential Financial by 93.4% during the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 128 shares during the period. Finally, Basepoint Wealth LLC acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $30,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $104.58 on Monday. 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 stock has a market cap of $36.39 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The business has a fifty day simple moving average of $111.87 and a 200-day simple moving average of $107.43.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.07). Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.The business had revenue of $15.69 billion during the quarter, compared to analysts’ expectations of $14.48 billion. During the same period in the prior year, the company posted $2.96 earnings per share. On average, sell-side analysts anticipate that Prudential Financial will post 14.36 EPS 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. Investors of record on Tuesday, February 17th will be issued a $1.40 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Tuesday, February 17th. Prudential Financial’s dividend payout ratio is currently 54.00%.

About Prudential Financial

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.