Prudential Financial, Inc. (NYSE:PRU) Receives $126.33 Consensus Price Target from Analysts

Shares of Prudential Financial, Inc. (NYSE:PRU) have earned a consensus rating of “Hold” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $127.17.

A number of research analysts recently weighed in on PRU shares. Wells Fargo & Company upped their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Piper Sandler increased their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Barclays increased their target price on shares of Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday. Jefferies Financial Group upped their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their target price for the company from $117.00 to $140.00 in a research report on Thursday, November 14th.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PRU. State Street Corp increased its holdings in shares of Prudential Financial by 0.3% during the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock valued at $2,059,549,000 after purchasing an additional 49,830 shares in the last quarter. Geode Capital Management LLC increased its holdings in Prudential Financial by 4.1% in the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after buying an additional 341,787 shares in the last quarter. Legal & General Group Plc raised its position in shares of Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after acquiring an additional 305,143 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Prudential Financial by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock worth $370,327,000 after acquiring an additional 47,561 shares in the last quarter. Finally, FMR LLC grew its position in shares of Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after acquiring an additional 344,254 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Trading Up 0.4 %

Prudential Financial stock opened at $119.07 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial has a 52-week low of $100.60 and a 52-week high of $130.55. The company has a market cap of $42.39 billion, a P/E ratio of 10.58, a P/E/G ratio of 0.87 and a beta of 1.31. The business has a 50-day simple moving average of $122.90 and a two-hundred day simple moving average of $120.70.

Prudential Financial (NYSE:PRU) last announced its 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. The company had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period last year, the firm earned $3.44 EPS. Analysts predict that Prudential Financial will post 13.35 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.37%. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

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.