Prudential Financial (PRU) Price Target Cut to $125.00 by Analysts at Deutsche Bank
Prudential Financial (NYSE:PRU) had its price objective reduced by Deutsche Bank from $132.00 to $125.00 in a research note issued to investors on Friday morning. Deutsche Bank currently has a hold rating on the financial services provider’s stock.
Other analysts have also issued research reports about the company. Wells Fargo & Co reduced their target price on Prudential Financial from $122.00 to $111.00 and set a market perform rating for the company in a report on Friday. Morgan Stanley reduced their target price on Prudential Financial from $133.00 to $131.00 and set an equal weight rating for the company in a report on Thursday. ValuEngine raised Prudential Financial from a buy rating to a strong-buy rating in a report on Tuesday, December 5th. B. Riley reaffirmed a buy rating on shares of Prudential Financial in a report on Monday, November 6th. Finally, Sandler O’Neill reaffirmed a buy rating and issued a $134.00 price objective on shares of Prudential Financial in a report on Thursday, January 11th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $119.14.
Prudential Financial (NYSE:PRU) traded up $2.66 during trading on Friday, hitting $106.04. The company’s stock had a trading volume of 4,263,772 shares, compared to its average volume of 2,142,013. The company has a market cap of $43,833.12, a price-to-earnings ratio of 5.92, a price-to-earnings-growth ratio of 1.05 and a beta of 1.50. Prudential Financial has a twelve month low of $97.88 and a twelve month high of $127.14. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.32.
Prudential Financial announced that its Board of Directors has approved a stock buyback program on Thursday, December 14th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be issued a $0.90 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $3.60 annualized dividend and a dividend yield of 3.39%. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s payout ratio is presently 16.75%.
In other Prudential Financial news, EVP Timothy P. Harris sold 10,527 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total transaction of $1,210,605.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Barbara Koster sold 16,801 shares of the business’s stock in a transaction dated 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 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. Insiders own 0.66% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. FTB Advisors Inc. grew its holdings in Prudential Financial by 232.2% during the fourth quarter. FTB Advisors Inc. now owns 1,073 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 750 shares during the period. Cerebellum GP LLC bought a new stake in Prudential Financial during the fourth quarter valued at about $127,000. Grove Bank & Trust grew its holdings in Prudential Financial by 507.0% during 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 bought a new stake in Prudential Financial during the third quarter valued at about $129,000. Finally, Community Bank N.A. grew its holdings in Prudential Financial by 269.7% during 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 institutional investors and hedge funds.
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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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