Analysts Set Prudential Financial, Inc. (NYSE:PRU) Price Target at $118.44

Prudential Financial, Inc. (NYSE:PRU) has been given a consensus rating of “Hold” by the eleven analysts that are currently covering the stock, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $117.1111.

A number of research analysts have recently commented on PRU shares. Weiss Ratings upgraded Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Evercore dropped their target price on Prudential Financial from $122.00 to $110.00 and set an “in-line” rating for the company in a research report on Thursday, February 5th. Wall Street Zen downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. JPMorgan Chase & Co. decreased their price target on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Finally, UBS Group boosted their price objective on Prudential Financial from $111.00 to $116.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th.

Prudential Financial Stock Up 1.8%

PRU stock opened at $105.19 on Monday. Prudential Financial has a 52 week low of $90.38 and a 52 week high of $119.76. The business has a 50-day simple moving average of $112.14 and a 200 day simple moving average of $107.38. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The company has a market cap of $36.82 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.17 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing the consensus estimate of $3.37 by ($0.07). The firm had revenue of $14.52 billion for the quarter, compared to analyst estimates of $14.48 billion. Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. During the same quarter in the prior year, the firm earned $2.96 earnings per share. Sell-side analysts anticipate that Prudential Financial will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a yield of 5.3%. Prudential Financial’s dividend payout ratio is 54.00%.

Insider Activity at Prudential Financial

In other news, EVP Caroline Feeney sold 6,555 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $116.28, for a total value of $762,215.40. Following the completion of the sale, the executive vice president directly owned 22,523 shares of the company’s stock, valued at $2,618,974.44. This represents a 22.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jacques Chappuis bought 1,000 shares of Prudential Financial stock in a transaction dated Friday, February 6th. The stock was purchased at an average price of $100.97 per share, with a total value of $100,970.00. Following the purchase, the executive vice president owned 1,000 shares in the company, valued at approximately $100,970. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Prudential Financial

Several hedge funds have recently made changes to their positions in the company. Jessup Wealth Management Inc purchased a new stake in shares of Prudential Financial in the fourth quarter worth $25,000. Salomon & Ludwin LLC boosted its position in shares of Prudential Financial by 98.3% during the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 114 shares during the last quarter. Lodestone Wealth Management LLC purchased a new position in shares of Prudential Financial during the fourth quarter worth about $28,000. Coston McIsaac & Partners increased its position in shares of Prudential Financial by 93.4% in the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 128 shares during the last quarter. Finally, Basepoint Wealth LLC purchased a new stake in Prudential Financial in the fourth quarter valued at approximately $30,000. 56.83% of the stock is currently owned by institutional investors.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.