Prudential Financial (NYSE:PRU) Downgraded to “Neutral” at B. Riley

B. Riley lowered shares of Prudential Financial (NYSE:PRU) from a buy rating to a neutral rating in a report published on Thursday, BenzingaRatingsTable reports. B. Riley currently has $100.00 price objective on the financial services provider’s stock, down from their previous price objective of $122.00.

PRU has been the subject of several other research reports. Citigroup set a $112.00 price objective on shares of Prudential Financial and gave the company a buy rating in a research note on Thursday, May 23rd. Zacks Investment Research upgraded shares of Prudential Financial from a hold rating to a buy rating and set a $113.00 price objective for the company in a research note on Wednesday, May 8th. UBS Group lowered shares of Prudential Financial from a buy rating to a neutral rating and decreased their price objective for the company from $116.00 to $112.00 in a research note on Monday, May 13th. ValuEngine upgraded shares of Prudential Financial from a sell rating to a hold rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Co reiterated a buy rating and issued a $115.00 price objective on shares of Prudential Financial in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Prudential Financial currently has a consensus rating of Buy and an average target price of $107.25.

NYSE PRU traded down $2.53 during trading hours on Thursday, hitting $88.56. The company’s stock had a trading volume of 4,275,485 shares, compared to its average volume of 1,751,114. Prudential Financial has a 52 week low of $75.61 and a 52 week high of $106.64. The stock has a market capitalization of $36.98 billion, a P/E ratio of 7.58, a PEG ratio of 0.80 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11. The company’s 50-day moving average price is $100.68.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $3.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.22 by ($0.08). The firm had revenue of $14.11 billion during the quarter, compared to analysts’ expectations of $13.63 billion. Prudential Financial had a net margin of 6.92% and a return on equity of 9.24%. During the same quarter last year, the business posted $3.01 EPS. On average, research analysts anticipate that Prudential Financial will post 12.58 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of PRU. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Prudential Financial during the 1st quarter worth approximately $25,000. Coastal Capital Group Inc. purchased a new stake in shares of Prudential Financial during the 2nd quarter worth approximately $25,000. Ibex Wealth Advisors purchased a new stake in shares of Prudential Financial during the 2nd quarter worth approximately $26,000. Bartlett & Co. LLC increased its stake in shares of Prudential Financial by 163.0% during the 2nd quarter. Bartlett & Co. LLC now owns 263 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 163 shares during the last quarter. Finally, Berman Capital Advisors LLC increased its stake in shares of Prudential Financial by 68.0% during the 1st quarter. Berman Capital Advisors LLC now owns 346 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 63.04% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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