Prudential Financial Inc (NYSE:PRU) has been given an average rating of “Buy” by the fourteen ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $113.95.
Several analysts have issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $113.00 target price on shares of Prudential Financial in a research note on Wednesday, January 9th. Zacks Investment Research lowered Prudential Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Wells Fargo & Co assumed coverage on Prudential Financial in a research note on Tuesday, January 8th. They issued an “outperform” rating and a $105.00 target price for the company. Morgan Stanley cut their target price on Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating for the company in a research note on Thursday, November 8th. Finally, Evercore ISI raised Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 target price for the company in a research note on Wednesday, January 9th.
Several large investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its stake in Prudential Financial by 8,297.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,932,559 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 11,790,464 shares during the period. Bessemer Group Inc. lifted its stake in Prudential Financial by 15,678.7% in the fourth quarter. Bessemer Group Inc. now owns 1,143,482 shares of the financial services provider’s stock worth $93,251,000 after acquiring an additional 1,136,235 shares during the period. TIAA CREF Investment Management LLC lifted its stake in Prudential Financial by 31.9% in the third quarter. TIAA CREF Investment Management LLC now owns 3,468,515 shares of the financial services provider’s stock worth $351,430,000 after acquiring an additional 839,309 shares during the period. CIBC World Markets Inc. lifted its stake in Prudential Financial by 985.8% in the third quarter. CIBC World Markets Inc. now owns 688,124 shares of the financial services provider’s stock worth $69,721,000 after acquiring an additional 624,750 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. purchased a new stake in Prudential Financial in the third quarter worth $63,195,000. 66.23% of the stock is owned by hedge funds and other institutional investors.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, February 6th. The financial services provider reported $2.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.44). The firm had revenue of $17.78 billion during the quarter, compared to analysts’ expectations of $14.03 billion. Prudential Financial had a return on equity of 10.20% and a net margin of 7.01%. During the same period in the prior year, the company earned $2.69 EPS. On average, equities analysts anticipate that Prudential Financial will post 12.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Wednesday, February 20th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Tuesday, February 19th. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.90. Prudential Financial’s dividend payout ratio is 30.80%.
About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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