Prudential Financial, Inc. (NYSE:PRU) Stock Has Average Target Price of $109.31

by · The Cerbat Gem

Shares of Prudential Financial, Inc. (NYSE:PRU – Get Free Report) have earned an average rating of “Reduce” from the sixteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $109.31.

A number of equities research analysts have commented on PRU shares. Piper Sandler boosted their target price on shares of Prudential Financial from $110.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Keefe, Bruyette & Woods raised their price objective on shares of Prudential Financial from $113.00 to $123.00 and gave the company a “market perform” rating in a research note on Tuesday, August 11th. Argus downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Finally, Mizuho upped their target price on shares of Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th.

View Our Latest Research Report on PRU

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total value of $5,314,963.50. Following the completion of the transaction, the insider directly owned 7,973,657 shares of the company’s stock, valued at $197,348,010.75. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ann Kappler sold 7,652 shares of Prudential Financial stock in a transaction on Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the transaction, the executive vice president directly owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Prudential Financial during the 2nd quarter valued at about $3,507,481,000. State Street Corp lifted its holdings in shares of Prudential Financial by 1.2% in the second quarter. State Street Corp now owns 17,164,760 shares of the financial services provider’s stock valued at $1,852,593,000 after purchasing an additional 209,179 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Prudential Financial by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 9,533,806 shares of the financial services provider’s stock valued at $1,078,904,000 after purchasing an additional 26,414 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Prudential Financial by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,758,545 shares of the financial services provider’s stock valued at $367,089,000 after purchasing an additional 166,641 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Prudential Financial by 95.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,556,748 shares of the financial services provider’s stock worth $249,769,000 after purchasing an additional 1,247,371 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

Shares of PRU stock opened at $119.39 on Tuesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. The stock has a 50 day simple moving average of $120.59 and a 200-day simple moving average of $108.69. The company has a market cap of $41.19 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 1.79 and a beta of 0.83. Prudential Financial has a 12-month low of $91.89 and a 12-month high of $127.72.

Prudential Financial (NYSE:PRU – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same period in the previous year, the business earned $3.58 earnings per share. On average, equities analysts forecast that Prudential Financial will post 14.59 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $5.60 annualized dividend and a dividend yield of 4.7%. Prudential Financial’s payout ratio is 50.72%.

Prudential Financial Company Profile

(Get Free Report)

Prudential Financial, Inc is a global financial services company headquartered in Newark, New Jersey. Founded in 1875 as The Widows and Orphans Friendly Society, the company has grown from a life insurance provider into a diversified business offering insurance, retirement, investment management and related financial services.

Through its U.S. businesses, Prudential provides individual life insurance and annuities, workplace retirement plans, pension risk transfer solutions, group life and disability insurance, and other benefits and financial wellness products.

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