Prudential Financial (NYSE:PRU) Research Coverage Started at Mizuho

Mizuho began coverage on shares of Prudential Financial (NYSE:PRU) in a report published on Tuesday, MarketBeat.com reports. The brokerage issued a neutral rating and a $125.00 target price on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. Morgan Stanley upped their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Evercore ISI raised their price objective on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Barclays decreased 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 report on Wednesday, October 8th. Wall Street Zen upgraded Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Wolfe Research assumed coverage on Prudential Financial in a research report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Eleven research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $116.80.

Prudential Financial Trading Down 0.2%

NYSE PRU opened at $115.48 on Tuesday. The firm’s 50 day moving average price is $106.73 and its two-hundred day moving average price is $105.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial has a twelve month low of $90.38 and a twelve month high of $123.88. The stock has a market cap of $40.42 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 0.94 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.The business had revenue of $8.35 billion during the quarter. Equities analysts anticipate that Prudential Financial will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.7%. The ex-dividend date was Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 74.18%.

Insider Activity at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 8,000 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total transaction of $861,520.00. Following the transaction, the senior vice president directly owned 11,535 shares in the company, valued at $1,242,204.15. The trade was a 40.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.39, for a total value of $5,172,331.96. Following the completion of the transaction, the chairman directly owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. This trade represents a 22.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 62,719 shares of company stock worth $6,796,067. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC lifted its position in shares of Prudential Financial by 0.3% during the 3rd 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. grew its stake in Prudential Financial by 12.7% during the second quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock worth $94,000 after buying an additional 98 shares during the last quarter. Summit Global Investments increased its holdings in shares of Prudential Financial by 1.3% during the second quarter. Summit Global Investments now owns 7,609 shares of the financial services provider’s stock worth $817,000 after buying an additional 100 shares in the last quarter. Mindset Wealth Management LLC increased its holdings in Prudential Financial by 2.1% during the 3rd quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 100 shares in the last quarter. Finally, Thrive Wealth Management LLC boosted its stake in Prudential Financial by 2.6% in the second quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 101 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.