Prudential Financial (NYSE:PRU) Research Coverage Started at Raymond James

Raymond James started coverage on shares of Prudential Financial (NYSE:PRUGet Rating) in a research report released on Wednesday, The Fly reports. The firm issued a strong-buy rating on the financial services provider’s stock.

A number of other equities research analysts have also weighed in on PRU. Barclays decreased their target price on shares of Prudential Financial from $115.00 to $95.00 and set an equal weight rating for the company in a research note on Wednesday, July 13th. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $95.00 to $101.00 and gave the company an equal weight rating in a research note on Thursday, August 4th. Jefferies Financial Group boosted their price objective on shares of Prudential Financial from $78.00 to $79.00 and gave the company an underperform rating in a research report on Thursday, September 8th. JPMorgan Chase & Co. boosted their price objective on shares of Prudential Financial from $120.00 to $122.00 in a research report on Monday, July 11th. Finally, TheStreet downgraded shares of Prudential Financial from a b- rating to a c+ rating in a research report on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial has a consensus rating of Hold and an average price target of $104.83.

Prudential Financial Price Performance

Shares of PRU opened at $91.87 on Wednesday. The firm has a market cap of $34.18 billion, a PE ratio of 17.01, a P/E/G ratio of 1.05 and a beta of 1.40. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.68. The firm has a fifty day simple moving average of $97.50 and a two-hundred day simple moving average of $103.41. Prudential Financial has a 1-year low of $89.73 and a 1-year high of $124.22.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 5.22%. The ex-dividend date of this dividend was Monday, August 22nd. Prudential Financial’s dividend payout ratio (DPR) is presently 88.89%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Prudential Financial by 1.5% during the 1st quarter. BlackRock Inc. now owns 32,183,900 shares of the financial services provider’s stock valued at $3,803,171,000 after purchasing an additional 465,588 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Prudential Financial by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,980 shares of the financial services provider’s stock valued at $3,677,448,000 after purchasing an additional 577,475 shares during the last quarter. State Street Corp boosted its holdings in shares of Prudential Financial by 1.5% during the 1st quarter. State Street Corp now owns 18,782,147 shares of the financial services provider’s stock valued at $2,219,486,000 after purchasing an additional 282,166 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Prudential Financial by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,353,887 shares of the financial services provider’s stock valued at $750,839,000 after buying an additional 356,957 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Prudential Financial by 4.3% during the 1st quarter. Bank of New York Mellon Corp now owns 3,302,065 shares of the financial services provider’s stock valued at $390,205,000 after buying an additional 136,133 shares in the last quarter. Institutional investors own 57.74% of the company’s stock.

Prudential Financial Company Profile

(Get Rating)

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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