Prudential Financial, Inc. (NYSE:PRU) Given Consensus Recommendation of “Hold” by Analysts

Prudential Financial, Inc. (NYSE:PRU) has earned a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. Eleven analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $126.33.

A number of research firms have recently commented on PRU. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. TD Cowen increased their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Piper Sandler boosted their price target on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. UBS Group lifted their price objective on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, Barclays increased their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st.

Prudential Financial Stock Down 1.1 %

NYSE:PRU opened at $121.24 on Wednesday. The company has a market capitalization of $43.16 billion, a PE ratio of 10.78, a P/E/G ratio of 0.91 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial has a 1-year low of $100.60 and a 1-year high of $130.55. The firm’s 50-day moving average price is $124.95 and its 200-day moving average price is $120.43.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The firm had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the previous year, the firm posted $3.44 EPS. On average, equities analysts predict that Prudential Financial will post 13.35 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.29%. Prudential Financial’s payout ratio is 46.22%.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its position in shares of Prudential Financial by 1.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,554 shares of the financial services provider’s stock valued at $885,000 after acquiring an additional 105 shares during the last quarter. Wedmont Private Capital grew its position in Prudential Financial by 17.4% in the second quarter. Wedmont Private Capital now owns 3,246 shares of the financial services provider’s stock worth $400,000 after acquiring an additional 481 shares in the last quarter. ORG Partners LLC bought a new stake in Prudential Financial during the second quarter worth approximately $156,000. PGGM Investments lifted its stake in shares of Prudential Financial by 98.0% in the 2nd quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock valued at $7,533,000 after purchasing an additional 31,807 shares during the last quarter. Finally, SteelPeak Wealth LLC boosted its holdings in shares of Prudential Financial by 192.0% in the 2nd quarter. SteelPeak Wealth LLC now owns 10,165 shares of the financial services provider’s stock worth $1,191,000 after purchasing an additional 6,684 shares during the period. 56.83% of the stock is owned by institutional investors.

About Prudential Financial

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 Businesses segments.