Prudential Financial, Inc. (NYSE:PRU) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Prudential Financial, Inc. (NYSE:PRU) have earned a consensus rating of “Hold” from the fourteen brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $125.77.

PRU has been the subject of several recent analyst reports. TD Cowen increased their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a report on Thursday, January 16th. Bank of America upped their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Barclays raised their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Piper Sandler lowered their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th.

Prudential Financial Stock Performance

Shares of PRU stock opened at $113.90 on Thursday. The stock has a 50-day moving average of $120.38 and a 200-day moving average of $120.46. Prudential Financial has a one year low of $102.67 and a one year high of $130.55. The stock has a market cap of $40.55 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. As a group, sell-side analysts expect that Prudential Financial will post 13.24 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be given a dividend of $1.35 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.74%. Prudential Financial’s payout ratio is 46.22%.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by insiders.

Institutional Trading of Prudential Financial

A number of hedge funds have recently made changes to their positions in the business. Grove Bank & Trust raised its stake in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Prudential Financial in the fourth quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Prudential Financial during the 3rd quarter worth about $31,000. CGC Financial Services LLC boosted its holdings in shares of Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after buying an additional 124 shares during the period. Finally, Wingate Wealth Advisors Inc. bought a new position in Prudential Financial in the 4th quarter valued at about $33,000. 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.