Analysts Set Prudential Financial Inc (NYSE:PRU) PT at $75.82

Prudential Financial Inc (NYSE:PRU) has received a consensus recommendation of “Hold” from the thirteen analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $75.82.

A number of brokerages have recently issued reports on PRU. Wells Fargo & Company increased their target price on Prudential Financial from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. ValuEngine downgraded Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. Morgan Stanley increased their target price on Prudential Financial from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 20th. Finally, Piper Sandler cut their target price on Prudential Financial from $67.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, July 2nd.

PRU opened at $68.36 on Friday. The business has a 50 day moving average price of $67.89 and a two-hundred day moving average price of $61.37. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.30. The company has a market cap of $27.00 billion, a PE ratio of -110.26, a P/E/G ratio of 0.81 and a beta of 1.69. Prudential Financial has a 52 week low of $38.62 and a 52 week high of $97.24.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.13. The firm had revenue of $13.08 billion during the quarter, compared to the consensus estimate of $12.85 billion. Prudential Financial had a positive return on equity of 6.13% and a negative net margin of 0.25%. During the same period in the prior year, the business earned $3.03 EPS. As a group, sell-side analysts expect that Prudential Financial will post 9.37 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 6.44%. The ex-dividend date of this dividend is Monday, August 24th. Prudential Financial’s dividend payout ratio is currently 37.64%.

In related news, SVP Timothy L. Schmidt sold 5,334 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $69.54, for a total value of $370,926.36. Following the sale, the senior vice president now owns 27,784 shares in the company, valued at approximately $1,932,099.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

A number of large investors have recently made changes to their positions in PRU. Lincoln National Corp grew its holdings in Prudential Financial by 7.0% during the 1st quarter. Lincoln National Corp now owns 5,381 shares of the financial services provider’s stock valued at $280,000 after buying an additional 351 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Prudential Financial by 4.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 73,998 shares of the financial services provider’s stock valued at $3,858,000 after buying an additional 3,108 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Prudential Financial by 3.8% during the 1st quarter. New York State Common Retirement Fund now owns 971,743 shares of the financial services provider’s stock valued at $50,667,000 after buying an additional 35,300 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in Prudential Financial by 3.5% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 67,565 shares of the financial services provider’s stock valued at $3,523,000 after buying an additional 2,284 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Prudential Financial by 1.7% during the 1st quarter. Rhumbline Advisers now owns 721,410 shares of the financial services provider’s stock valued at $37,614,000 after buying an additional 11,844 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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