Prudential Financial (NYSE:PRU) Reaches New 1-Year High at $120.40

Prudential Financial, Inc. (NYSE:PRU - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $120.40 and last traded at $120.22, with a volume of 218253 shares trading hands. The stock had previously closed at $119.60.

Analyst Ratings Changes

Several brokerages have weighed in on PRU. Morgan Stanley raised their target price on shares of Prudential Financial from $109.00 to $117.00 and gave the company an "equal weight" rating in a research note on Monday, April 15th. Piper Sandler cut their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a "neutral" rating for the company in a report on Monday, May 6th. TheStreet raised shares of Prudential Financial from a "c+" rating to an "a-" rating in a research note on Tuesday, February 6th. Keefe, Bruyette & Woods boosted their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company boosted their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company an "underweight" rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $111.08.

Prudential Financial Price Performance

The stock's fifty day moving average price is $113.66 and its two-hundred day moving average price is $105.89. The firm has a market capitalization of $43.05 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 0.87 and a beta of 1.35. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). The business had revenue of $15.01 billion for the quarter, compared to analysts' expectations of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company's revenue for the quarter was up 69.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.66 earnings per share. Equities research analysts expect that Prudential Financial, Inc. will post 13.42 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Monday, May 20th. Prudential Financial's payout ratio is currently 88.44%.

Insiders Place Their Bets

In other news, SVP Timothy L. Schmidt sold 7,912 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now owns 14,754 shares of the company's stock, valued at $1,595,350.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of the business's stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now directly owns 202,083 shares of the company's stock, valued at approximately $23,960,981.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy L. Schmidt sold 7,912 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the sale, the senior vice president now owns 14,754 shares in the company, valued at $1,595,350.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,536 shares of company stock worth $19,245,606. Insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Prudential Financial

Institutional investors have recently added to or reduced their stakes in the company. Cambridge Trust Co. increased its position in Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider's stock worth $25,000 after buying an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Prudential Financial in the fourth quarter valued at $26,000. Headinvest LLC acquired a new stake in Prudential Financial in the third quarter worth about $27,000. Arlington Trust Co LLC increased its position in Prudential Financial by 151.6% in the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider's stock worth $32,000 after purchasing an additional 185 shares during the period. Finally, Crewe Advisors LLC acquired a new stake in Prudential Financial in the first quarter worth about $33,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

About Prudential Financial

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.