Prudential Financial (PRU) – Investment Analysts’ Weekly Ratings Updates

Prudential Financial (NYSE: PRU) recently received a number of ratings updates from brokerages and research firms:

• 4/25/2024 – Prudential Financial had its price target raised by analysts at Evercore ISI from $115.00 to $116.00. They now have an “underperform” rating on the stock.
• 4/15/2024 – Prudential Financial had its price target raised by analysts at Morgan Stanley from $109.00 to $117.00. They now have an “equal weight” rating on the stock.
• 4/11/2024 – Prudential Financial had its price target raised by analysts at Wells Fargo & Company from $100.00 to $106.00. They now have an “underweight” rating on the stock.
• 4/11/2024 – Prudential Financial had its price target raised by analysts at Evercore ISI from $104.00 to $115.00. They now have an “underperform” rating on the stock.
• 4/10/2024 – Prudential Financial had its price target raised by analysts at Keefe, Bruyette & Woods from $112.00 to $118.00. They now have a “market perform” rating on the stock.
• 4/5/2024 – Prudential Financial had its price target raised by analysts at Piper Sandler from $114.00 to $125.00. They now have a “neutral” rating on the stock.

Prudential Financial Price Performance

PRU stock opened at $112.30 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a 1 year low of $77.22 and a 1 year high of $118.69. The firm has a market cap of $40.32 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 0.76 and a beta of 1.37. The stock has a 50-day simple moving average of $112.00 and a 200-day simple moving average of $104.16.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The company had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. During the same quarter last year, the business posted $2.66 EPS. Prudential Financial’s quarterly revenue was up 69.9% compared to the same quarter last year. On average, equities analysts predict that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.20 dividend on an annualized basis and a yield of 4.63%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio is currently 77.73%.

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the transaction, the executive vice president now owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the transaction, the executive vice president now owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the transaction, the senior vice president now owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,255 shares of company stock valued at $3,215,664. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRU. Cambridge Trust Co. boosted its position in Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 105 shares during the period. Bruce G. Allen Investments LLC acquired a new position in Prudential Financial during the 4th quarter valued at approximately $26,000. Headinvest LLC acquired a new position in Prudential Financial during the 3rd quarter valued at approximately $27,000. Arlington Trust Co LLC raised its stake in Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 185 shares in the last quarter. Finally, Pineridge Advisors LLC bought a new stake in Prudential Financial during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

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 PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.