Prudential Financial (NYSE:PRU) Cut to "Strong Sell" at Zacks Research

Prudential Financial (NYSE:PRU - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other research firms have also issued reports on PRU. Barclays lowered shares of Prudential Financial from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $110.00 to $91.00 in a report on Wednesday, April 22nd. Wall Street Zen lowered shares of Prudential Financial from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $104.00 to $100.00 and set a "market perform" rating for the company in a report on Thursday, April 23rd. Bank of America dropped their target price on shares of Prudential Financial from $112.00 to $104.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. Finally, Morgan Stanley dropped their price objective on shares of Prudential Financial from $120.00 to $111.00 and set an "equal weight" rating for the company in a report on Tuesday, March 3rd. Ten research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $101.75.

Prudential Financial Price Performance

Prudential Financial stock opened at $98.27 on Wednesday. Prudential Financial has a 52-week low of $91.89 and a 52-week high of $119.76. The firm has a market capitalization of $34.18 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 1.25 and a beta of 0.95. The company has a fifty day simple moving average of $96.97 and a 200-day simple moving average of $104.57. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.37 by ($0.07). Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.The business had revenue of $14.52 billion for the quarter, compared to analysts' expectations of $14.48 billion. During the same period in the previous year, the company earned $2.96 EPS. On average, equities analysts anticipate that Prudential Financial will post 13.87 EPS for the current fiscal year.

Insider Activity at Prudential Financial

In other news, Director Thomas D. Stoddard acquired 250 shares of the company's stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average price of $102.97 per share, with a total value of $25,742.50. Following the completion of the acquisition, the director owned 250 shares of the company's stock, valued at $25,742.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph J. Wolk acquired 400 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The stock was purchased at an average cost of $105.32 per share, with a total value of $42,128.00. Following the acquisition, the director directly owned 400 shares of the company's stock, valued at $42,128. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 1,650 shares of company stock valued at $168,841. 0.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Elevated Capital Advisors LLC lifted its position in Prudential Financial by 2.6% in the first quarter. Elevated Capital Advisors LLC now owns 9,910 shares of the financial services provider's stock valued at $968,000 after buying an additional 248 shares during the last quarter. First Horizon Corp lifted its position in Prudential Financial by 4.5% in the first quarter. First Horizon Corp now owns 59,610 shares of the financial services provider's stock valued at $5,823,000 after buying an additional 2,552 shares during the last quarter. Kestra Advisory Services LLC lifted its position in Prudential Financial by 44.6% in the first quarter. Kestra Advisory Services LLC now owns 71,642 shares of the financial services provider's stock valued at $6,999,000 after buying an additional 22,107 shares during the last quarter. Money Concepts Capital Corp lifted its position in Prudential Financial by 23.7% in the first quarter. Money Concepts Capital Corp now owns 15,537 shares of the financial services provider's stock valued at $1,518,000 after buying an additional 2,973 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its position in Prudential Financial by 2.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 111,228 shares of the financial services provider's stock valued at $10,799,000 after buying an additional 2,393 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential's long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential's core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

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