Prudential Financial Inc (NYSE:PRU) has been given a consensus rating of “Hold” by the fourteen brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $103.59.
A number of equities research analysts have issued reports on the stock. B. Riley downgraded shares of Prudential Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $122.00 to $100.00 in a research report on Thursday, August 1st. Barclays set a $108.00 price objective on shares of Prudential Financial and gave the stock a “buy” rating in a research report on Monday, August 12th. Wells Fargo & Co set a $115.00 price objective on shares of Prudential Financial and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating and set a $90.00 price objective for the company in a research report on Monday, August 12th. Finally, Atlantic Securities downgraded shares of Prudential Financial from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th.
Institutional investors have recently added to or reduced their stakes in the company. Coastal Capital Group Inc. purchased a new stake in Prudential Financial in the 2nd quarter worth approximately $25,000. WealthStone Inc. purchased a new stake in Prudential Financial in the 2nd quarter worth approximately $25,000. Virtus ETF Advisers LLC purchased a new stake in Prudential Financial in the 2nd quarter worth approximately $26,000. Bartlett & Co. LLC lifted its stake in Prudential Financial by 163.0% in 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 in the last quarter. Finally, Ibex Wealth Advisors purchased a new stake in Prudential Financial in the 2nd quarter worth approximately $26,000. 63.65% of the stock is owned by hedge funds and other institutional investors.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.22 by ($0.08). Prudential Financial had a return on equity of 9.24% and a net margin of 6.92%. The firm had revenue of $14.11 billion during the quarter, compared to the consensus estimate of $13.63 billion. During the same period in the previous year, the company posted $3.01 earnings per share. As a group, research analysts predict that Prudential Financial will post 12.49 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Monday, August 19th. Prudential Financial’s dividend payout ratio is currently 34.22%.
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.
Read More: Convertible Shares
Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.