Prudential Financial, Inc. (PRU) Downgraded to Hold at BidaskClub
BidaskClub lowered shares of Prudential Financial, Inc. (NYSE:PRU) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
Several other analysts also recently issued reports on the company. Vetr upgraded Prudential Financial from a hold rating to a buy rating and set a $109.90 price target for the company in a report on Wednesday, March 22nd. Zacks Investment Research upgraded Prudential Financial from a hold rating to a buy rating and set a $117.00 price target for the company in a report on Tuesday, April 18th. Deutsche Bank AG increased their price target on Prudential Financial from $114.00 to $117.00 and gave the company a buy rating in a report on Wednesday, April 19th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $117.00 price target on shares of Prudential Financial in a report on Tuesday, March 21st. Finally, Credit Suisse Group lowered their price target on Prudential Financial from $121.00 to $120.00 and set a neutral rating for the company in a report on Tuesday, May 23rd. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $111.21.
Prudential Financial (PRU) traded down 0.17% on Wednesday, reaching $111.11. The company had a trading volume of 590,826 shares. The stock has a market capitalization of $47.67 billion, a P/E ratio of 11.27 and a beta of 1.49. Prudential Financial has a 12 month low of $72.25 and a 12 month high of $114.55. The firm has a 50-day moving average of $107.88 and a 200-day moving average of $107.38.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.15. Prudential Financial had a return on equity of 8.52% and a net margin of 7.78%. The firm had revenue of $13.24 billion during the quarter, compared to the consensus estimate of $12.75 billion. During the same period in the prior year, the firm earned $2.18 EPS. On average, equities research analysts expect that Prudential Financial will post $10.67 earnings per share for the current fiscal year.
In other news, insider Charles F. Lowrey sold 222,857 shares of the stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $108.04, for a total transaction of $24,077,470.28. Following the transaction, the insider now owns 151,418 shares of the company’s stock, valued at $16,359,200.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the transaction, the chairman now directly owns 456,121 shares in the company, valued at approximately $50,173,310. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Two Sigma Investments LP bought a new position in shares of Prudential Financial during the fourth quarter valued at approximately $220,000. Quadrature Capital Ltd bought a new position in shares of Prudential Financial during the fourth quarter valued at approximately $343,000. Wealthfront Inc. bought a new position in shares of Prudential Financial during the fourth quarter valued at approximately $1,068,000. USA Financial Portformulas Corp bought a new position in shares of Prudential Financial during the fourth quarter valued at approximately $3,104,000. Finally, Garde Capital Inc. bought a new position in shares of Prudential Financial during the fourth quarter valued at approximately $221,000. 63.17% of the stock is currently owned by institutional investors and hedge funds.
About Prudential Financial
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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