UBS Group Cuts Prudential Financial (NYSE:PRU) Price Target to $122.00

Prudential Financial (NYSE:PRU) had its price target lowered by UBS Group from $130.00 to $122.00 in a research note released on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

PRU has been the topic of a number of other reports. Morgan Stanley reduced their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods decreased their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. 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 note on Tuesday, December 10th. Barclays lifted their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company boosted their price target on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $126.08.

Prudential Financial Trading Down 8.1 %

PRU stock opened at $96.27 on Wednesday. Prudential Financial has a 52 week low of $95.73 and a 52 week high of $130.55. The company has a market cap of $34.46 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 0.98 and a beta of 1.28. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $112.03 and a 200-day simple moving average of $118.63.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, equities research analysts expect that Prudential Financial will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.61%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the stock in a transaction dated Tuesday, March 25th. The shares were acquired at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the acquisition, the insider now directly owns 139,987 shares of the company’s stock, valued at approximately $3,992,429.24. This trade represents a 60.18 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Avanza Fonder AB bought a new position in shares of Prudential Financial in the fourth quarter valued at approximately $3,423,000. Gateway Investment Advisers LLC boosted its stake in Prudential Financial by 56.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after purchasing an additional 7,907 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Prudential Financial by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after buying an additional 15,695 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Prudential Financial by 2.3% in the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after buying an additional 1,765 shares during the period. Finally, HighTower Advisors LLC boosted its stake in Prudential Financial by 18.7% during the third quarter. HighTower Advisors LLC now owns 69,542 shares of the financial services provider’s stock valued at $8,395,000 after buying an additional 10,964 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Company Profile

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.