Prudential Financial (NYSE:PRU) was upgraded by equities research analysts at Atlantic Securities from a “neutral” rating to an “overweight” rating in a report issued on Thursday, The Fly reports.

A number of other brokerages have also issued reports on PRU. Citigroup upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Tuesday, October 17th. Morgan Stanley raised their price objective on shares of Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Royal Bank of Canada reiterated a “hold” rating and issued a $119.00 price objective on shares of Prudential Financial in a report on Friday, November 3rd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $127.00 price objective on shares of Prudential Financial in a report on Thursday, December 21st. Finally, ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Prudential Financial currently has a consensus rating of “Buy” and a consensus price target of $118.22.

Prudential Financial (PRU) opened at $121.51 on Thursday. The stock has a market cap of $52,290.00, a P/E ratio of 12.25, a P/E/G ratio of 1.27 and a beta of 1.55. Prudential Financial has a fifty-two week low of $97.88 and a fifty-two week high of $122.94. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.30. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. During the same quarter last year, the business earned $2.66 EPS. equities analysts expect that Prudential Financial will post 10.48 earnings per share for the current year.

Prudential Financial declared that its board has initiated a stock repurchase program on Thursday, December 14th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

In other news, EVP Charles F. Lowrey sold 44,630 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the completion of the sale, the executive vice president now owns 79,354 shares of the company’s stock, valued at approximately $8,880,506.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Barbara Koster sold 16,801 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total transaction of $1,934,971.17. Following the sale, the senior vice president now directly owns 37,327 shares of the company’s stock, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,818 shares of company stock valued at $13,154,122. Company insiders own 0.66% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Sit Investment Associates Inc. grew its position in shares of Prudential Financial by 2.6% during the 4th quarter. Sit Investment Associates Inc. now owns 51,605 shares of the financial services provider’s stock worth $5,934,000 after buying an additional 1,310 shares during the period. Gillespie Robinson & Grimm Inc. grew its position in shares of Prudential Financial by 67.2% during the 4th quarter. Gillespie Robinson & Grimm Inc. now owns 5,599 shares of the financial services provider’s stock worth $644,000 after buying an additional 2,250 shares during the period. DnB Asset Management AS grew its position in shares of Prudential Financial by 1.6% during the 4th quarter. DnB Asset Management AS now owns 93,950 shares of the financial services provider’s stock worth $10,802,000 after buying an additional 1,500 shares during the period. Copper Rock Capital Partners LLC grew its position in shares of Prudential Financial by 72.0% during the 4th quarter. Copper Rock Capital Partners LLC now owns 96,162 shares of the financial services provider’s stock worth $11,078,000 after buying an additional 40,250 shares during the period. Finally, Washington Trust Bank grew its position in shares of Prudential Financial by 5.2% during the 4th quarter. Washington Trust Bank now owns 65,392 shares of the financial services provider’s stock worth $7,519,000 after buying an additional 3,206 shares during the period. 64.46% of the stock is owned by institutional investors.

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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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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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