Prudential Financial, Inc. (NYSE:PRU) Receives $101.50 Average PT from Analysts

Prudential Financial, Inc. (NYSE:PRU) has earned an average recommendation of “Reduce” from the sixteen analysts that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $101.50.

Several brokerages have recently commented on PRU. Keefe, Bruyette & Woods increased their price objective on Prudential Financial from $100.00 to $106.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Bank of America reduced their price objective on Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Piper Sandler raised their price target on Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Evercore restated a “negative” rating on shares of Prudential Financial in a research report on Friday, March 6th. Finally, BMO Capital Markets reduced their price target on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a research report on Thursday, April 23rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRU. Arrowstreet Capital Limited Partnership increased its position in Prudential Financial by 95.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,556,748 shares of the financial services provider’s stock valued at $249,769,000 after buying an additional 1,247,371 shares in the last quarter. Norges Bank bought a new stake in shares of Prudential Financial in the fourth quarter worth $140,530,000. Marshall Wace LLP grew its holdings in shares of Prudential Financial by 230.3% in the fourth quarter. Marshall Wace LLP now owns 1,374,966 shares of the financial services provider’s stock worth $155,206,000 after acquiring an additional 958,672 shares during the period. First Trust Advisors LP grew its holdings in shares of Prudential Financial by 37.3% in the first quarter. First Trust Advisors LP now owns 1,588,247 shares of the financial services provider’s stock worth $155,156,000 after acquiring an additional 431,527 shares during the period. Finally, Morgan Stanley grew its holdings in Prudential Financial by 6.7% during the fourth quarter. Morgan Stanley now owns 6,649,202 shares of the financial services provider’s stock valued at $750,562,000 after purchasing an additional 420,081 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $106.86 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $37.08 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.94 and a beta of 0.86. The business’s 50-day moving average price is $101.35 and its 200-day moving average price is $104.32. Prudential Financial has a 12 month low of $91.89 and a 12 month high of $119.76.

Prudential Financial (NYSE:PRU) last announced 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. The firm had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same period in the prior year, the company earned $3.29 EPS. Sell-side analysts forecast that Prudential Financial will post 13.86 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Tuesday, May 26th. Prudential Financial’s dividend payout ratio (DPR) is presently 57.61%.

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.