Prudential Financial (NYSE:PRU – Free Report) had its target price trimmed by Keefe, Bruyette & Woods from $135.00 to $129.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.
Other equities research analysts also recently issued reports about the stock. TD Cowen boosted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Barclays boosted their target price on shares of Prudential Financial from $119.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Wells Fargo & Company decreased their target price on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group boosted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price objective for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $127.25.
Prudential Financial Price Performance
Prudential Financial (NYSE:PRU – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the prior year, the business earned $3.44 earnings per share. Equities research analysts anticipate that Prudential Financial will post 13.34 earnings per share for the current fiscal year.
Prudential Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is currently 46.22%.
Insider Activity
In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.
Institutional Trading of Prudential Financial
Institutional investors have recently modified their holdings of the business. Grove Bank & Trust lifted its stake in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Prudential Financial during the 3rd quarter valued at approximately $31,000. Quarry LP lifted its stake in shares of Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after buying an additional 222 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Prudential Financial during the 4th quarter valued at approximately $37,000. Finally, Tompkins Financial Corp lifted its stake in shares of Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after buying an additional 140 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.
Prudential Financial Company Profile
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.
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