Prudential Financial (NYSE:PRU) PT Raised to $121.00

Prudential Financial (NYSE:PRUFree Report) had its target price boosted by Keefe, Bruyette & Woods from $118.00 to $121.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on PRU. Evercore ISI upped their price objective on Prudential Financial from $115.00 to $116.00 and gave the company an underperform rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. increased their price target on Prudential Financial from $118.00 to $128.00 and gave the company a neutral rating in a report on Tuesday, July 2nd. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an underweight rating in a research note on Thursday, April 11th. Piper Sandler reduced their target price on shares of Prudential Financial from $125.00 to $121.00 and set a neutral rating on the stock in a research note on Monday, May 6th. Finally, Jefferies Financial Group dropped their price target on shares of Prudential Financial from $143.00 to $141.00 and set a buy rating for the company in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $116.67.

Get Our Latest Stock Report on Prudential Financial

Prudential Financial Trading Up 1.5 %

Shares of PRU opened at $120.40 on Monday. Prudential Financial has a fifty-two week low of $87.95 and a fifty-two week high of $121.39. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. The company’s fifty day moving average is $117.45 and its 200 day moving average is $111.72. The stock has a market capitalization of $43.22 billion, a PE ratio of 20.48, a P/E/G ratio of 0.88 and a beta of 1.34.

Prudential Financial (NYSE:PRUGet Free Report) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The business had revenue of $15.01 billion during the quarter, compared to the consensus estimate of $14.50 billion. During the same quarter last year, the firm earned $2.66 earnings per share. The business’s quarterly revenue was up 69.9% on a year-over-year basis. Sell-side analysts expect that Prudential Financial will post 13.41 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were given a $1.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $5.20 annualized dividend and a yield of 4.32%. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the acquisition, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the transaction, the executive vice president now directly owns 202,083 shares in the company, valued at approximately $23,960,981.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of Prudential Financial stock in a transaction dated Thursday, June 20th. The stock was acquired at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the acquisition, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Prudential Financial by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after buying an additional 5,154,865 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Prudential Financial by 9,281.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after purchasing an additional 1,354,248 shares during the last quarter. Norges Bank bought a new stake in Prudential Financial during the fourth quarter valued at about $113,478,000. Dimensional Fund Advisors LP grew its stake in Prudential Financial by 10.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock valued at $414,926,000 after purchasing an additional 388,363 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Prudential Financial during the first quarter valued at about $35,855,000. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Company Profile

(Get Free Report)

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.

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