Goldman Sachs Group, Inc. (The) assumed coverage on shares of Prudential Financial, Inc. (NYSE:PRU) in a research note published on Wednesday morning. The firm issued a neutral rating and a $114.00 target price on the financial services provider’s stock.
Other analysts have also issued research reports about the company. Citigroup Inc. upgraded Prudential Financial from a neutral rating to a buy rating and set a $103.00 price target for the company in a report on Tuesday. FBR & Co raised Prudential Financial from a neutral rating to a buy rating and reduced their price target for the stock from $117.00 to $100.00 in a research report on Tuesday, October 10th. Keefe, Bruyette & Woods reaffirmed a buy rating on shares of Prudential Financial in a research report on Friday, August 11th. BidaskClub downgraded Prudential Financial from a buy rating to a hold rating in a research report on Saturday, August 12th. Finally, Wells Fargo & Company reaffirmed a hold rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Prudential Financial presently has a consensus rating of Buy and an average price target of $114.56.
Prudential Financial (NYSE:PRU) traded up 0.65% during trading on Wednesday, hitting $109.60. The stock had a trading volume of 1,281,261 shares. The firm has a market cap of $46.80 billion, a P/E ratio of 12.24 and a beta of 1.51. The company has a 50-day moving average of $105.31 and a 200 day moving average of $106.76. Prudential Financial has a 52-week low of $82.45 and a 52-week high of $115.26.
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. On average, equities research analysts predict that Prudential Financial will post $10.14 earnings per share for the current fiscal year.
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In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,225,454.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas C. Silitch sold 14,897 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the completion of the sale, the insider now owns 21,274 shares of the company’s stock, valued at approximately $2,340,140. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in PRU. BlackRock Inc. raised its holdings in Prudential Financial by 3,296.9% in the 1st quarter. BlackRock Inc. now owns 32,220,957 shares of the financial services provider’s stock valued at $3,437,330,000 after acquiring an additional 31,272,429 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Prudential Financial by 1,997.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,204,160 shares of the financial services provider’s stock worth $130,218,000 after buying an additional 1,146,739 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Prudential Financial by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock worth $3,229,469,000 after buying an additional 968,500 shares during the last quarter. AJO LP increased its holdings in shares of Prudential Financial by 42.8% during the 2nd quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock worth $296,672,000 after buying an additional 821,881 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Prudential Financial by 48.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,247,204 shares of the financial services provider’s stock worth $243,013,000 after buying an additional 737,458 shares during the last quarter. Institutional investors own 64.41% of the company’s stock.
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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