Prudential Financial, Inc. (NYSE:PRU) Receives $125.69 Average Target Price from Analysts

Shares of Prudential Financial, Inc. (NYSE:PRU - Get Free Report) have earned an average rating of "Hold" from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $125.69.

A number of research analysts recently issued reports on PRU shares. UBS Group lifted their price target on Prudential Financial from $112.00 to $119.00 and gave the company a "neutral" rating in a report on Tuesday, August 13th. Bank of America upped their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Morgan Stanley lowered their price target on shares of Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a report on Monday, August 19th. Barclays upped their price objective on Prudential Financial from $118.00 to $119.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Finally, Citigroup lifted their target price on Prudential Financial from $104.00 to $120.00 and gave the company a "neutral" rating in a research note on Tuesday, July 23rd.

Insider Activity

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 stock was acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the transaction, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.

Institutional Trading of Prudential Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Prudential Financial by 0.3% during the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider's stock worth $2,059,549,000 after acquiring an additional 49,830 shares during the period. Geode Capital Management LLC boosted its position in Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock worth $1,047,872,000 after purchasing an additional 341,787 shares during the period. Legal & General Group Plc increased its holdings in shares of 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 purchasing an additional 305,143 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Prudential Financial by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider's stock valued at $370,327,000 after purchasing an additional 47,561 shares during the period. Finally, FMR LLC boosted its holdings in shares of Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock worth $174,903,000 after buying an additional 344,254 shares during the period. 56.83% of the stock is owned by institutional investors.

Prudential Financial Price Performance

NYSE:PRU traded up $1.66 on Friday, reaching $127.41. The stock had a trading volume of 3,049,858 shares, compared to its average volume of 1,502,596. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $45.36 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Prudential Financial has a 1-year low of $93.32 and a 1-year high of $129.13. The stock has a fifty day moving average price of $122.20 and a 200-day moving average price of $119.22.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the prior year, the company earned $3.44 EPS. Research analysts forecast that Prudential Financial will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial's payout ratio is currently 46.22%.

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.