Brokerages Set Price Target for Prudential Financial, Inc. (NYSE:PRU) at $119.33

VaselineSeptember 5, 2024

0 4 minutes read

Shares of Prudential Financial, Inc. (NYSE:PRU – Get Free Report ) has been given a consensus rating of “Hold” by the thirteen analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $119.33.

A number of analysts have recently issued reports on PRU shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. UBS Group boosted their price target on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Citigroup boosted their price objective on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price for the company in a report on Monday, August 12th .

See the latest stock analysis on PRU

Prudential financial performance of stocks

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NYSE PRU opened at $119.55 on Monday. The firm has a market cap of $42.68 billion, a P/E ratio of 20.33, a PEG ratio of 0.94 and a beta of 1.30. The stock has a 50 day simple moving average of $118.22 and a two hundred day simple moving average of $115.56. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13, and a current ratio of 0.13. Prudential Financial has a fifty-two week low of $87.95 and a fifty-two week high of $128.52.

Prudential Financial (NYSE:PRU – Get Your Free Report ) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. On average, equities analysts forecast that Prudential Financial will post 13.33 earnings per share for the current year.

Notice of Prudential Financial Dividends

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 20. This represents a dividend of $5.20 on an annualized basis and a yield of 4.35%. Prudential Financial’s payout ratio is currently 88.44%.

Insider trading at Prudential Financial

In other news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. The disclosure for this sale can be found here. 0.31% of shares are owned by corporate insiders.

Institutional Trading of Prudential Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in PRU. Annex Advisory Services LLC raised its position in Prudential Financial by 3.4% in the second quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 81 shares during the period. Raymond James Trust NA raised its holdings in shares of Prudential Financial by 1.1% during the second quarter. Raymond James Trust NA now owns 8,117 shares of the financial services provider’s stock worth $951,000 after purchasing an additional 87 shares during the period. Peoples Bank OH raised its position in shares of Prudential Financial by 2.3% in the first quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 90 shares in the last quarter. Quotient Wealth Partners LLC boosted its holdings in Prudential Financial by 3.9% in the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after buying an additional 92 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in Prudential Financial by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s shares.

About Prudential Financial

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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 Business segments.