FBR & Co Lowers Prudential Financial Inc. (PRU) Price Target to $86.00
Prudential Financial Inc. (NYSE:PRU) had its price target reduced by equities researchers at FBR & Co from $100.00 to $86.00 in a report released on Monday. The firm currently has a “mkt perform” rating on the stock. FBR & Co’s price target would indicate a potential downside of 15.46% from the company’s current price.
PRU has been the subject of a number of other reports. Zacks Investment Research cut Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, November 28th. Bank of America Corp. cut Prudential Financial from a “buy” rating to an “underperform” rating and set a $108.00 target price for the company. in a research note on Friday, November 18th. Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and boosted their target price for the company from $80.00 to $93.00 in a research note on Friday, September 23rd. Credit Suisse Group AG began coverage on Prudential Financial in a research note on Friday, October 7th. They issued a “neutral” rating and a $89.00 target price for the company. Finally, Wells Fargo & Co. began coverage on Prudential Financial in a research note on Friday, September 23rd. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $91.60.
Shares of Prudential Financial (NYSE:PRU) traded down 0.72% on Monday, hitting $101.73. The stock had a trading volume of 1,954,567 shares. The stock has a market capitalization of $43.74 billion, a PE ratio of 9.59 and a beta of 1.73. Prudential Financial has a one year low of $57.19 and a one year high of $103.50. The firm’s 50 day moving average is $91.89 and its 200-day moving average is $80.61.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.17. Prudential Financial had a return on equity of 7.73% and a net margin of 8.45%. During the same quarter in the previous year, the firm earned $2.40 earnings per share. Equities research analysts expect that Prudential Financial will post $9.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 22nd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 18th. This represents a $2.80 annualized dividend and a yield of 2.75%. Prudential Financial’s payout ratio is presently 26.32%.
COPYRIGHT VIOLATION WARNING: “FBR & Co Lowers Prudential Financial Inc. (PRU) Price Target to $86.00” was first posted by Financial Market News and is the propert of of Financial Market News. If you are reading this article on another domain, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this article can be read at http://www.financial-market-news.com/prudential-financial-inc-pru-price-target-cut-to-86-00-2/1209803/.
In related news, insider Charles F. Lowrey sold 41,644 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $80.00, for a total transaction of $3,331,520.00. Following the sale, the insider now owns 98,307 shares in the company, valued at $7,864,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott Sleyster sold 9,379 shares of the company’s stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $85.06, for a total value of $797,777.74. Following the sale, the insider now owns 34,185 shares in the company, valued at approximately $2,907,776.10. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. First Heartland Consultants Inc. bought a new stake in Prudential Financial during the third quarter valued at about $202,000. D.A. Davidson & CO. raised its stake in Prudential Financial by 43.4% in the third quarter. D.A. Davidson & CO. now owns 21,221 shares of the company’s stock valued at $1,732,000 after buying an additional 6,422 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Prudential Financial during the third quarter valued at about $13,858,000. Price T Rowe Associates Inc. MD raised its stake in Prudential Financial by 2.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 833,980 shares of the company’s stock valued at $68,094,000 after buying an additional 21,010 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC raised its stake in Prudential Financial by 9.3% in the third quarter. Quantitative Systematic Strategies LLC now owns 12,677 shares of the company’s stock valued at $1,016,000 after buying an additional 1,076 shares in the last quarter. Institutional investors and hedge funds own 60.46% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.
Receive News & Ratings for Prudential Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.