ValuEngine Lowers Prudential Financial, Inc. (PRU) to Buy

ValuEngine downgraded shares of Prudential Financial, Inc. (NYSE:PRU) from a strong-buy rating to a buy rating in a research note published on Friday morning.

Several other research analysts have also commented on PRU. B. Riley restated a buy rating on shares of Prudential Financial in a report on Monday, November 6th. Royal Bank Of Canada restated a hold rating and issued a $119.00 price target on shares of Prudential Financial in a report on Friday, November 3rd. Wells Fargo & Company restated a hold rating and issued a $120.00 price target (up previously from $114.00) on shares of Prudential Financial in a report on Wednesday, November 8th. Keefe, Bruyette & Woods restated a buy rating on shares of Prudential Financial in a report on Friday, August 11th. Finally, Morgan Stanley raised their price target on shares of Prudential Financial from $123.00 to $124.00 and gave the company an equal weight rating in a report on Thursday, November 2nd. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Prudential Financial currently has a consensus rating of Buy and an average price target of $115.13.

Prudential Financial (NYSE:PRU) opened at $110.72 on Friday. Prudential Financial has a 1-year low of $95.88 and a 1-year high of $115.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market cap of $46,945.28, a P/E ratio of 10.70, a P/E/G ratio of 1.25 and a beta of 1.56.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The firm had revenue of $13.36 billion for the quarter, compared to analyst estimates of $12.24 billion. During the same quarter last year, the firm posted $2.66 earnings per share. equities analysts expect that Prudential Financial will post 10.38 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its position in shares of Prudential Financial by 5.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,479,904 shares of the financial services provider’s stock worth $157,344,000 after buying an additional 73,536 shares in the last quarter. Commonwealth Bank of Australia grew its position in shares of Prudential Financial by 7.7% during the third quarter. Commonwealth Bank of Australia now owns 97,522 shares of the financial services provider’s stock worth $10,363,000 after buying an additional 6,988 shares in the last quarter. Grove Bank & Trust grew its position in shares of Prudential Financial by 507.0% during the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after buying an additional 943 shares in the last quarter. Amalgamated Bank grew its position in shares of Prudential Financial by 2.0% during the third quarter. Amalgamated Bank now owns 49,224 shares of the financial services provider’s stock worth $5,233,000 after buying an additional 988 shares in the last quarter. Finally, Twin Capital Management Inc. grew its position in shares of Prudential Financial by 2.3% during the third quarter. Twin Capital Management Inc. now owns 27,425 shares of the financial services provider’s stock worth $2,916,000 after buying an additional 624 shares in the last quarter. 64.48% of the stock is owned by institutional investors and hedge funds.

About Prudential Financial

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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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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