Royal Bank Of Canada reissued their hold rating on shares of Prudential Financial, Inc. (NYSE:PRU) in a report released on Friday, November 3rd. The firm currently has a $119.00 price target on the financial services provider’s stock.
A number of other analysts have also recently commented on the stock. Morgan Stanley upped their price objective on shares of Prudential Financial from $123.00 to $124.00 and gave the company an equal weight rating in a research report on Thursday, November 2nd. Goldman Sachs Group, Inc. (The) initiated coverage on Prudential Financial in a report on Wednesday, October 18th. They set a neutral rating and a $114.00 target price for the company. Citigroup Inc. upgraded Prudential Financial from a neutral rating to a buy rating and set a $103.00 target price for the company in a report on Tuesday, October 17th. Keefe, Bruyette & Woods restated a buy rating and set a $121.00 price objective on shares of Prudential Financial in a research note on Monday, October 16th. Finally, Zacks Investment Research upgraded shares of Prudential Financial from a hold rating to a buy rating and set a $122.00 price objective for the company in a research note on Tuesday, October 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Prudential Financial currently has a consensus rating of Buy and an average price target of $115.13.
Prudential Financial (PRU) opened at $110.44 on Friday. Prudential Financial has a 1-year low of $95.95 and a 1-year high of $115.26. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $46,945.28, a P/E ratio of 10.70, a PEG 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 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.30. The company had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same quarter in the prior year, the business posted $2.66 EPS. research analysts anticipate that Prudential Financial will post 10.38 earnings per share for the current fiscal year.
In other Prudential Financial news, EVP Charles F. Lowrey sold 44,630 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total value of $4,994,543.30. Following the completion of the sale, the executive vice president now directly owns 79,354 shares of the company’s stock, valued at approximately $8,880,506.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas C. Silitch sold 44,860 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the transaction, the insider now owns 27,927 shares in the company, valued at $3,121,400.79. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Green Square Capital LLC lifted its stake in shares of Prudential Financial by 0.3% during the 2nd quarter. Green Square Capital LLC now owns 2,065 shares of the financial services provider’s stock valued at $223,000 after buying an additional 7 shares in the last quarter. Hudock Capital Group LLC grew its holdings in shares of Prudential Financial by 0.7% during the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 8 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Prudential Financial by 0.9% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,018 shares of the financial services provider’s stock valued at $218,000 after buying an additional 18 shares during the period. Trust Co boosted its position in Prudential Financial by 1.0% during the 1st quarter. Trust Co now owns 2,024 shares of the financial services provider’s stock valued at $216,000 after buying an additional 20 shares during the period. Finally, Capital Investment Advisors LLC boosted its position in Prudential Financial by 1.6% during the 2nd quarter. Capital Investment Advisors LLC now owns 2,454 shares of the financial services provider’s stock valued at $265,000 after buying an additional 38 shares during the period. Institutional investors own 64.48% 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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