Prudential Financial, Inc. (NYSE:PRU)‘s stock had its “buy” rating reiterated by analysts at Keefe, Bruyette & Woods in a report released on Monday. They presently have a $121.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 10.63% from the company’s current price.
Several other brokerages have also recently weighed in on PRU. Morgan Stanley boosted their price objective on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $117.00 target price on shares of Prudential Financial in a research note on Wednesday, September 6th. Finally, Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a research note on Tuesday, October 10th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $114.61.
Shares of Prudential Financial (NYSE PRU) traded up 0.24% during trading on Monday, hitting $109.37. The stock had a trading volume of 1,543,239 shares. The stock has a 50 day moving average of $104.79 and a 200 day moving average of $106.71. Prudential Financial has a 12 month low of $82.45 and a 12 month high of $115.26. The company has a market cap of $46.70 billion, a PE ratio of 12.22 and a beta of 1.51.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by ($0.61). Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The company had revenue of $13.03 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. Equities analysts forecast that Prudential Financial will post $10.14 EPS for the current fiscal year.
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In related news, insider Nicholas C. Silitch sold 14,897 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the completion of the sale, the insider now owns 21,274 shares in the company, valued at $2,340,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the completion of the sale, the insider now owns 10,924 shares of the company’s stock, valued at approximately $1,225,454.32. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Eqis Capital Management Inc. purchased a new stake in Prudential Financial during the third quarter worth $535,000. Intl Fcstone Inc. purchased a new stake in Prudential Financial during the second quarter worth $247,000. Achmea Investment Management B.V. lifted its holdings in Prudential Financial by 22.4% during the second quarter. Achmea Investment Management B.V. now owns 69,821 shares of the financial services provider’s stock worth $7,548,000 after buying an additional 12,759 shares during the period. USA Financial Portformulas Corp lifted its holdings in Prudential Financial by 10.0% during the second quarter. USA Financial Portformulas Corp now owns 27,895 shares of the financial services provider’s stock worth $3,017,000 after buying an additional 2,547 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in Prudential Financial by 24.7% during the second quarter. Toronto Dominion Bank now owns 147,705 shares of the financial services provider’s stock worth $15,971,000 after buying an additional 29,303 shares during the period. Hedge funds and other institutional investors own 64.41% of the company’s stock.
About Prudential Financial
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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