Prudential Financial (NYSE:PRU) Research Coverage Started at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods began coverage on shares of Prudential Financial (NYSE:PRU) in a research note released on Thursday, MarketBeat reports. The firm issued a hold rating and a $106.00 price objective on the financial services provider’s stock.

A number of other analysts also recently weighed in on PRU. Barclays reduced their target price on shares of Prudential Financial from $124.00 to $119.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 11th. Mizuho reduced their price objective on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. JPMorgan Chase & Co. lowered their price objective on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. UBS Group lifted their target price on Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Finally, Evercore restated a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. Nine analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Prudential Financial currently has a consensus rating of “Reduce” and an average target price of $113.89.

Prudential Financial Stock Down 2.1%

Shares of PRU opened at $93.23 on Thursday. The business’s 50 day simple moving average is $101.16 and its 200-day simple moving average is $105.59. Prudential Financial has a 1 year low of $90.38 and a 1 year high of $119.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market capitalization of $32.44 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 1.15 and a beta of 0.98.

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

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th were issued a $1.40 dividend. The ex-dividend date was Tuesday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 annualized dividend and a dividend yield of 6.0%. Prudential Financial’s dividend payout ratio (DPR) is currently 56.00%.

Insiders Place Their Bets

In related news, Director Thomas D. Stoddard acquired 250 shares of the stock in a transaction on Tuesday, February 17th. The stock was bought at an average cost of $102.97 per share, with a total value of $25,742.50. Following the transaction, the director directly owned 250 shares in the company, valued at approximately $25,742.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph J. Wolk purchased 400 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were bought at an average cost of $105.32 per share, with a total value of $42,128.00. Following the purchase, the director directly owned 400 shares of the company’s stock, valued at approximately $42,128. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 1,408,389 shares of company stock valued at $35,154,439 over the last quarter. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Prudential Financial

Large investors have recently bought and sold shares of the business. Jessup Wealth Management Inc acquired a new stake in shares of Prudential Financial in the 4th quarter worth $25,000. Garton & Associates Financial Advisors LLC acquired a new position in Prudential Financial during the 4th quarter valued at about $26,000. Salomon & Ludwin LLC raised its stake in Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after buying an additional 114 shares during the last quarter. Lodestone Wealth Management LLC acquired a new stake in Prudential Financial in the fourth quarter worth about $28,000. Finally, Coston McIsaac & Partners boosted its holdings in 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 acquiring an additional 128 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Company Profile

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.