Prudential Financial (NYSE:PRU) Hits New 12-Month High - Should You Buy?

Prudential Financial, Inc. (NYSE:PRU - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $124.57 and last traded at $123.9150, with a volume of 2036494 shares trading hands. The stock had previously closed at $121.89.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on Prudential Financial from $100.00 to $103.00 and gave the company an "underweight" rating in a report on Thursday, July 9th. UBS Group decreased their price target on Prudential Financial from $105.00 to $98.00 and set a "neutral" rating for the company in a report on Thursday, April 9th. Wall Street Zen raised Prudential Financial from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Barclays raised their price objective on Prudential Financial from $90.00 to $92.00 and gave the company an "underweight" rating in a research note on Tuesday, July 7th. Finally, Jefferies Financial Group upped their target price on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a "hold" rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $105.46.

Prudential Financial Trading Up 1.7%

The firm has a 50 day moving average of $109.74 and a 200 day moving average of $104.35. The firm has a market cap of $43.00 billion, a PE ratio of 12.75, a P/E/G ratio of 2.43 and a beta of 0.85. 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 quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating the consensus estimate of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The business had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. During the same period in the prior year, the firm earned $3.29 earnings per share. Equities analysts anticipate that Prudential Financial, Inc. will post 13.75 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Tuesday, May 26th. Prudential Financial's dividend payout ratio (DPR) is 57.61%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. VCI Wealth Management LLC raised its holdings in shares of Prudential Financial by 117.1% in the fourth quarter. VCI Wealth Management LLC now owns 19,292 shares of the financial services provider's stock valued at $2,178,000 after acquiring an additional 10,404 shares in the last quarter. KBC Group NV lifted its stake in Prudential Financial by 94.3% in the fourth quarter. KBC Group NV now owns 157,538 shares of the financial services provider's stock worth $17,783,000 after acquiring an additional 76,461 shares during the period. Munich Reinsurance Co Stock Corp in Munich grew its holdings in Prudential Financial by 2,669.0% during the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 46,990 shares of the financial services provider's stock worth $5,342,000 after acquiring an additional 45,293 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Prudential Financial by 9.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 171,486 shares of the financial services provider's stock valued at $19,357,000 after purchasing an additional 14,327 shares during the period. Finally, Oxbow Advisors LLC bought a new stake in shares of Prudential Financial in the 4th quarter valued at about $6,545,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

About Prudential Financial

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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