“We expect a modestly favorable reaction to Q1 earnings in PRU shares.”,” the firm’s analyst commented.
PRU has been the subject of a number of other reports. Keefe, Bruyette & Woods restated a buy rating and issued a $117.00 price target on shares of Prudential Financial in a research report on Tuesday, March 21st. Zacks Investment Research upgraded Prudential Financial from a hold rating to a buy rating and set a $117.00 target price for the company in a research report on Tuesday, January 10th. Citigroup Inc initiated coverage on Prudential Financial in a research report on Thursday, January 26th. They set a neutral rating and a $103.00 target price for the company. Vetr upgraded Prudential Financial from a hold rating to a buy rating and set a $109.90 target price for the company in a research report on Wednesday, March 22nd. Finally, Barclays PLC reiterated a buy rating and set a $129.00 target price on shares of Prudential Financial in a research report on Sunday, February 19th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Prudential Financial has an average rating of Buy and an average price target of $108.92.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.15. The company had revenue of $13.24 billion during the quarter, compared to the consensus estimate of $12.75 billion. Prudential Financial had a return on equity of 7.96% and a net margin of 7.63%. During the same period last year, the company earned $2.18 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Tuesday, May 23rd will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, May 19th. Prudential Financial’s dividend payout ratio (DPR) is 28.90%.
In other news, insider Charles F. Lowrey sold 222,857 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $108.04, for a total transaction of $24,077,470.28. Following the completion of the transaction, the insider now directly owns 151,418 shares of the company’s stock, valued at approximately $16,359,200.72. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Todman bought 450 shares of Prudential Financial stock in a transaction dated Tuesday, February 21st. The shares were acquired at an average cost of $111.11 per share, with a total value of $49,999.50. Following the completion of the purchase, the director now owns 450 shares in the company, valued at $49,999.50. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Univest Corp of Pennsylvania increased its position in shares of Prudential Financial by 7.1% in the third quarter. Univest Corp of Pennsylvania now owns 3,849 shares of the financial services provider’s stock valued at $314,000 after buying an additional 254 shares during the last quarter. Huntington National Bank boosted its stake in shares of Prudential Financial by 3.8% in the third quarter. Huntington National Bank now owns 173,718 shares of the financial services provider’s stock valued at $14,185,000 after buying an additional 6,405 shares during the last quarter. APG Asset Management N.V. boosted its stake in shares of Prudential Financial by 51.2% in the third quarter. APG Asset Management N.V. now owns 2,071,032 shares of the financial services provider’s stock valued at $169,100,000 after buying an additional 701,526 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in shares of Prudential Financial during the third quarter valued at approximately $4,487,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Prudential Financial by 42.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 71,835 shares of the financial services provider’s stock valued at $6,080,000 after buying an additional 21,577 shares during the last quarter. 60.91% of the stock is owned by institutional investors and hedge funds.
Prudential Financial Company Profile
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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