Prudential Financial Inc (PRU) Receives $119.35 Consensus PT from Analysts
Shares of Prudential Financial Inc (NYSE:PRU) have been assigned a consensus recommendation of “Buy” from the eighteen brokerages that are covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $119.06.
Several research firms have recently issued reports on PRU. Morgan Stanley decreased their price objective on shares of Prudential Financial from $133.00 to $131.00 and set an “equal weight” rating for the company in a research report on Thursday. Wells Fargo & Co decreased their price objective on shares of Prudential Financial from $122.00 to $111.00 and set a “market perform” rating for the company in a research report on Friday. ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 5th. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. Finally, Sandler O’Neill reaffirmed a “buy” rating and set a $134.00 price objective on shares of Prudential Financial in a research report on Thursday, January 11th.
Prudential Financial (NYSE PRU) opened at $103.38 on Tuesday. 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 1 year low of $97.88 and a 1 year high of $127.14. The company has a market cap of $47,136.08, a P/E ratio of 5.77, a price-to-earnings-growth ratio of 1.13 and a beta of 1.50.
Prudential Financial announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 14th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be given a $0.90 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a yield of 3.48%. Prudential Financial’s payout ratio is 16.75%.
In related news, SVP Barbara Koster sold 16,801 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $115.17, for a total value of $1,934,971.17. Following the completion of the sale, the senior vice president now directly owns 37,327 shares of the company’s stock, valued at $4,298,950.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Timothy P. Harris sold 10,527 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total transaction of $1,210,605.00. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. FTB Advisors Inc. lifted its position in Prudential Financial by 232.2% in the fourth quarter. FTB Advisors Inc. now owns 1,073 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 750 shares during the last quarter. Cerebellum GP LLC acquired a new position in Prudential Financial in the fourth quarter valued at $127,000. Grove Bank & Trust increased its stake in Prudential Financial by 507.0% in the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 943 shares during the period. Legacy Advisors LLC acquired a new position in Prudential Financial in the third quarter valued at $129,000. Finally, Community Bank N.A. increased its stake in Prudential Financial by 269.7% in the fourth quarter. Community Bank N.A. now owns 1,353 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 987 shares during the period. 64.35% of the stock is owned by hedge funds and other 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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