Brokerages Set Prudential Financial, Inc. (NYSE:PRU) Target Price at $116.80

Shares of Prudential Financial, Inc. (NYSE:PRU) have earned an average rating of “Reduce” from the twelve analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and eleven have given a hold rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $118.00.

Several equities research analysts have commented on the company. Barclays cut their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Piper Sandler increased their target price on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday. Evercore ISI raised their target price on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Morgan Stanley boosted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Finally, Mizuho began coverage on Prudential Financial in a report on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price objective for the company.

Prudential Financial Trading Down 0.6%

PRU opened at $114.18 on Friday. The stock has a market capitalization of $39.96 billion, a P/E ratio of 15.68, a P/E/G ratio of 0.94 and a beta of 0.97. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial has a 12 month low of $90.38 and a 12 month high of $123.88. The firm’s fifty day simple moving average is $107.53 and its 200 day simple moving average is $105.95.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The firm had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%. As a group, research analysts anticipate that Prudential Financial will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 74.18%.

Insiders Place Their Bets

In related news, EVP Caroline Feeney sold 6,555 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $116.28, for a total transaction of $762,215.40. Following the transaction, the executive vice president directly owned 22,523 shares in the company, valued at approximately $2,618,974.44. The trade was a 22.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles F. Lowrey sold 48,164 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the sale, the chairman owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. This represents a 22.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 62,719 shares of company stock valued at $6,796,067 in the last 90 days. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in shares of Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 133 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Prudential Financial in the first quarter valued at about $578,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Prudential Financial by 2.4% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,434 shares of the financial services provider’s stock worth $942,000 after buying an additional 201 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Prudential Financial by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 519,831 shares of the financial services provider’s stock valued at $58,056,000 after buying an additional 5,129 shares during the last quarter. Finally, Summit Financial LLC raised its holdings in Prudential Financial by 65.7% in the 1st quarter. Summit Financial LLC now owns 7,949 shares of the financial services provider’s stock valued at $888,000 after acquiring an additional 3,151 shares during the period. 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.