Prudential Financial (NYSE:PRU) Downgraded by Raymond James

Prudential Financial (NYSE:PRUGet Rating) was downgraded by research analysts at Raymond James from a “strong-buy” rating to a “market perform” rating in a research note issued on Wednesday, MarketBeat Ratings reports.

A number of other research firms also recently weighed in on PRU. Barclays decreased their target price on Prudential Financial from $95.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, October 14th. Citigroup lifted their target price on Prudential Financial from $98.00 to $105.00 in a research report on Wednesday, November 16th. Evercore ISI decreased their price objective on Prudential Financial to $90.00 in a report on Tuesday, August 9th. TheStreet downgraded Prudential Financial from a “b-” rating to a “c+” rating in a report on Thursday, August 4th. Finally, Jefferies Financial Group lifted their price objective on Prudential Financial from $78.00 to $79.00 and gave the company an “underperform” rating in a report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $103.54.

Prudential Financial Stock Down 1.4 %

PRU stock opened at $107.06 on Wednesday. Prudential Financial has a twelve month low of $85.46 and a twelve month high of $124.22. The company has a market cap of $39.83 billion, a PE ratio of 148.69 and a beta of 1.43. The business’s 50-day simple moving average is $98.10 and its 200 day simple moving average is $98.46. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.16.

Insider Buying and Selling

In related news, major shareholder Prudential Financial Inc acquired 285,715 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The stock was purchased at an average price of $35.00 per share, for a total transaction of $10,000,025.00. Following the transaction, the insider now directly owns 285,715 shares of the company’s stock, valued at approximately $10,000,025. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Prudential Financial Inc acquired 285,715 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The stock was purchased at an average price of $35.00 per share, for a total transaction of $10,000,025.00. Following the transaction, the insider now directly owns 285,715 shares of the company’s stock, valued at approximately $10,000,025. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann M. Kappler sold 3,609 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $108.62, for a total transaction of $392,009.58. Following the completion of the transaction, the executive vice president now owns 9,779 shares of the company’s stock, valued at approximately $1,062,194.98. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Prudential Financial

Institutional investors have recently bought and sold shares of the business. Moors & Cabot Inc. grew its holdings in Prudential Financial by 5.2% during the 1st quarter. Moors & Cabot Inc. now owns 11,628 shares of the financial services provider’s stock worth $1,374,000 after acquiring an additional 576 shares during the period. Cetera Advisor Networks LLC grew its holdings in Prudential Financial by 16.1% during the 2nd quarter. Cetera Advisor Networks LLC now owns 49,730 shares of the financial services provider’s stock worth $4,758,000 after acquiring an additional 6,912 shares during the period. Norinchukin Bank The grew its holdings in Prudential Financial by 22.7% during the 1st quarter. Norinchukin Bank The now owns 15,507 shares of the financial services provider’s stock worth $1,832,000 after acquiring an additional 2,871 shares during the period. Advisory Services Network LLC grew its holdings in shares of Prudential Financial by 29.4% in the 1st quarter. Advisory Services Network LLC now owns 38,550 shares of the financial services provider’s stock valued at $4,555,000 after buying an additional 8,748 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Prudential Financial by 8.6% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 284,419 shares of the financial services provider’s stock valued at $27,213,000 after buying an additional 22,417 shares during the period. Institutional investors and hedge funds 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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