Prudential Financial (NYSE:PRU) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Prudential Financial (NYSE:PRU) from a hold rating to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other research firms have also commented on PRU. Morgan Stanley raised their target price on shares of Prudential Financial from $92.00 to $105.00 and gave the company an “underweight” rating in a report on Monday, August 24th. Barclays upped their price target on shares of Prudential Financial from $90.00 to $92.00 and gave the stock an “underweight” rating in a report on Tuesday, July 7th. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $103.00 to $110.00 and gave the company an “underweight” rating in a research note on Wednesday, August 19th. Zacks Research upgraded shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. Finally, TD Cowen upped their target price on Prudential Financial from $102.00 to $114.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Prudential Financial currently has a consensus rating of “Reduce” and an average target price of $109.31.

Prudential Financial Stock Performance

NYSE:PRU opened at $117.75 on Friday. The company has a market cap of $40.62 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 2.45 and a beta of 0.84. Prudential Financial has a fifty-two week low of $91.89 and a fifty-two week high of $127.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a fifty day moving average price of $118.14 and a 200-day moving average price of $106.40.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.36 billion. During the same quarter last year, the business earned $3.58 earnings per share. As a group, equities analysts anticipate that Prudential Financial will post 14.51 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, August 25th. Prudential Financial’s payout ratio is 50.72%.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 7,652 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the sale, the executive vice president directly owned 14,407 shares of the company’s stock, valued at $1,801,019.07. The trade was a 34.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the completion of the transaction, the insider owned 7,973,657 shares of the company’s stock, valued at approximately $197,348,010.75. This trade represents a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

A number of hedge funds have recently modified their holdings of PRU. Jessup Wealth Management Inc bought a new position in Prudential Financial during the 4th quarter worth $25,000. Archer Investment Corp acquired a new position in shares of Prudential Financial in the 2nd quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Prudential Financial in the 4th quarter valued at $26,000. SJS Investment Consulting Inc. increased its position in shares of Prudential Financial by 93.1% during the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after buying an additional 134 shares during the period. Finally, Coston McIsaac & Partners raised its stake in Prudential Financial by 93.4% during the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after buying an additional 128 shares during the last quarter. Institutional investors and hedge funds 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.