Prudential Financial (NYSE:PRU) Raised to "Inline" at Evercore ISI

Evercore ISI upgraded shares of Prudential Financial (NYSE:PRU - Free Report) from an underperform rating to an inline rating in a research report report published on Thursday morning, MarketBeat Ratings reports. The brokerage currently has $140.00 price target on the financial services provider's stock, up from their prior price target of $117.00.

Other equities analysts have also recently issued reports about the company. TD Cowen assumed coverage on Prudential Financial in a report on Wednesday, October 9th. They issued a "hold" rating and a $130.00 price objective for the company. Barclays lifted their price objective on Prudential Financial from $118.00 to $119.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. Bank of America boosted their price target on Prudential Financial from $109.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Finally, UBS Group boosted their price target on Prudential Financial from $112.00 to $119.00 and gave the company a "neutral" rating in a research note on Tuesday, August 13th. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Prudential Financial presently has an average rating of "Hold" and an average target price of $125.69.

Prudential Financial Stock Up 0.3 %

Shares of NYSE PRU traded up $0.35 during mid-day trading on Thursday, reaching $125.61. 461,646 shares of the company traded hands, compared to its average volume of 1,492,227. The stock has a market cap of $44.72 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The company's fifty day moving average is $121.76 and its two-hundred day moving average is $119.06. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial has a fifty-two week low of $93.32 and a fifty-two week high of $129.13.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter last year, the business posted $3.44 earnings per share. On average, analysts expect that Prudential Financial will post 13.33 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial's dividend payout ratio is currently 46.22%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the firm's stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company's stock, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company's stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares of the company's stock, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On Prudential Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings in shares of Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider's stock worth $157,219,000 after buying an additional 1,267,571 shares during the last quarter. AQR Capital Management LLC grew its stake in Prudential Financial by 97.4% in the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider's stock valued at $84,874,000 after purchasing an additional 357,300 shares during the last quarter. FMR LLC boosted its stake in Prudential Financial by 31.3% in the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock valued at $174,903,000 after acquiring an additional 344,254 shares in the last quarter. Swedbank AB purchased a new stake in Prudential Financial during the 1st quarter worth approximately $35,855,000. Finally, Legal & General Group Plc boosted its position in Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider's stock valued at $415,134,000 after buying an additional 305,143 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.