Prudential Financial, Inc. (NYSE:PRU) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Prudential Financial, Inc. (NYSE:PRU - Get Free Report) have earned a consensus rating of "Hold" from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $121.85.

A number of equities analysts have recently weighed in on PRU shares. Barclays dropped their price target on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Piper Sandler dropped their target price on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods reduced their price target on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. dropped their price objective on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, Morgan Stanley reduced their target price on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the transaction, the insider now owns 87,047 shares of the company's stock, valued at approximately $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Institutional Trading of Prudential Financial

Several institutional investors have recently made changes to their positions in the business. Avanza Fonder AB acquired a new stake in Prudential Financial during the fourth quarter valued at approximately $3,423,000. Gateway Investment Advisers LLC boosted its stake in Prudential Financial by 56.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider's stock valued at $2,607,000 after buying an additional 7,907 shares in the last quarter. Principal Financial Group Inc. raised its stake in Prudential Financial by 3.9% during the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider's stock worth $50,830,000 after acquiring an additional 15,695 shares in the last quarter. Asset Allocation & Management Company LLC bought a new position in shares of Prudential Financial during the fourth quarter valued at $209,000. Finally, Czech National Bank boosted its stake in shares of Prudential Financial by 6.1% in the 4th quarter. Czech National Bank now owns 77,188 shares of the financial services provider's stock valued at $9,149,000 after purchasing an additional 4,464 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Up 0.8 %

Shares of PRU traded up $0.77 during mid-day trading on Tuesday, reaching $99.39. The company's stock had a trading volume of 1,480,033 shares, compared to its average volume of 1,601,710. The business has a fifty day moving average of $107.69 and a 200 day moving average of $116.87. The company has a market cap of $35.23 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial has a 1 year low of $90.38 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, analysts forecast that Prudential Financial will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 5.43%. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio (DPR) is 72.29%.

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.