Somewhat Positive News Coverage Somewhat Unlikely to Affect Prudential Financial (PRU) Share Price
Press coverage about Prudential Financial (NYSE:PRU) has been trending somewhat positive this week, Accern Sentiment reports. The research firm identifies negative and positive press coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Prudential Financial earned a news sentiment score of 0.14 on Accern’s scale. Accern also assigned press coverage about the financial services provider an impact score of 47.5626341804024 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the news stories that may have effected Accern Sentiment Analysis’s analysis:
- Prudential Financial (PRU) Board of Directors Authorizes Stock Repurchase Plan (americanbankingnews.com)
- BRIEF-Prudential Financial Sees EPS In Range Of $11.20 To $11.70 For 2018 (PRU) (markets.businessinsider.com)
- Prudential Financial (PRU) Given a $122.00 Price Target at Wells Fargo & Company (americanbankingnews.com)
- Prudential Financial (PRU) 2018 Financial Outlook Conference (Transcript) – Seeking Alpha (seekingalpha.com)
- Prudential Financial, Inc. 2018 Financial Outlook Call Materials Available (finance.yahoo.com)
Shares of Prudential Financial (PRU) traded up $1.26 during midday trading on Friday, reaching $115.73. The company’s stock had a trading volume of 2,849,764 shares, compared to its average volume of 1,847,360. The company has a market cap of $48,314.80, a price-to-earnings ratio of 11.01, a P/E/G ratio of 1.28 and a beta of 1.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial has a fifty-two week low of $97.88 and a fifty-two week high of $117.99.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, beating the consensus estimate of $2.71 by $0.30. The firm had revenue of $13.36 billion for the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same period in the prior year, the company earned $2.66 EPS. sell-side analysts expect that Prudential Financial will post 10.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Monday, November 27th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, November 24th. This represents a $3.00 annualized dividend and a dividend yield of 2.59%. Prudential Financial’s dividend payout ratio (DPR) is presently 30.18%.
Prudential Financial declared that its Board of Directors has approved a stock repurchase plan on Thursday, December 14th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
PRU has been the topic of a number of recent research reports. Citigroup raised Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Tuesday, October 17th. Morgan Stanley increased their price objective on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Royal Bank of Canada reissued a “hold” rating and set a $119.00 price objective on shares of Prudential Financial in a report on Friday, November 3rd. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a report on Tuesday, October 10th. Finally, ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $115.78.
In related news, insider Nicholas C. Silitch sold 44,860 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the sale, the insider now directly owns 27,927 shares in the company, valued at approximately $3,121,400.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles F. Lowrey sold 44,630 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total value of $4,994,543.30. Following the sale, the executive vice president now owns 79,354 shares of the company’s stock, valued at $8,880,506.14. The disclosure for this sale can be found here. Insiders have sold a total of 100,017 shares of company stock worth $11,219,151 over the last quarter. Corporate insiders own 0.66% of the company’s stock.
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Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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