Prudential Financial Inc (PRU) Receives Consensus Recommendation of “Buy” from Analysts

Prudential Financial Inc (NYSE:PRU) has been given a consensus recommendation of “Buy” by the fourteen ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $113.95.

A number of research firms recently issued reports on PRU. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research note on Monday, October 8th. UBS Group lifted their price target on shares of Prudential Financial from $125.00 to $126.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Morgan Stanley dropped their price target on shares of Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 8th. ValuEngine cut shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, November 16th. Finally, Evercore ISI raised shares of Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price target on the stock in a research note on Wednesday, January 9th.

A number of hedge funds have recently made changes to their positions in PRU. TCI Wealth Advisors Inc. raised its holdings in shares of Prudential Financial by 39.7% during the 4th quarter. TCI Wealth Advisors Inc. now owns 676 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 192 shares during the period. Norway Savings Bank raised its holdings in shares of Prudential Financial by 13.6% during the 4th quarter. Norway Savings Bank now owns 958 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 115 shares during the period. Cordasco Financial Network raised its holdings in shares of Prudential Financial by 120.0% during the 4th quarter. Cordasco Financial Network now owns 1,100 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 600 shares during the period. BerganKDV Wealth Management LLC raised its holdings in shares of Prudential Financial by 165.8% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 1,284 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 801 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in shares of Prudential Financial by 35.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,746 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 461 shares during the period. Institutional investors own 63.41% of the company’s stock.

PRU traded down $1.49 during trading on Tuesday, reaching $90.77. 3,678,213 shares of the company’s stock were exchanged, compared to its average volume of 2,263,887. Prudential Financial has a 1 year low of $75.61 and a 1 year high of $127.14. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $38.10 billion, a PE ratio of 8.58, a P/E/G ratio of 0.80 and a beta of 1.40.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $3.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.01). The business had revenue of $14.43 billion for the quarter, compared to analysts’ expectations of $13.51 billion. Prudential Financial had a return on equity of 10.20% and a net margin of 12.59%. During the same period in the prior year, the business posted $3.01 earnings per share. As a group, analysts predict that Prudential Financial will post 12.13 EPS for the current fiscal year.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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