The stock of Prudential Financial Inc. (NYSE:PRU) last traded at $96.49, up 0.22% from the previous session.
Data from the available sources indicates that Prudential Financial Inc. (NYSE:PRU) is covered by 19 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $121.00 and a low of $70.00, we find $95.00. Given the previous closing price of $96.28, this indicates a potential downside of -1.33 percent. PRU stock price is now 10.56% away from the 50-day moving average and 3.21% away from the 200-day moving average. The market capitalization of the company currently stands at $35.26B.
In total, 12 analysts have assigned it a hold rating, and 2 have given it a buy rating. Brokers who have rated the stock have averaged $94.50 as their price target over the next twelve months.
With the price target maintained at $114, JP Morgan recently Upgraded its rating from Neutral to Overweight for Prudential Financial Inc. (NYSE: PRU).
In other news, PGIM Strategic Investments, In, 10% Owner bought 763 shares of the company’s stock on Jul 14. The stock was bought for $20,000 at an average price of $26.20. Upon completion of the transaction, the 10% Owner now directly owns 382 shares in the company, valued at $36859.18. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 03, Executive Vice President SULLIVAN ANDREW F sold 4,126 shares of the business’s stock. A total of $409,299 was realized by selling the stock at an average price of $99.20. This leaves the insider owning 12,241 shares of the company worth $1.18 million. Insiders disposed of 145,580 shares of company stock worth roughly $14.05 million over the past 1 year. A total of 0.15% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PRU stock. A new stake in Prudential Financial Inc. shares was purchased by HRT FINANCIAL LP during the first quarter worth $37,030,000. POINT72 ASSET MANAGEMENT, L.P. invested $31,542,000 in shares of PRU during the first quarter. In the first quarter, MKP CAPITAL MANAGEMENT, L.L.C. acquired a new stake in Prudential Financial Inc. valued at approximately $31,132,000. BROOKFIELD CORP /ON/ acquired a new stake in PRU for approximately $10,746,000. QUADRATURE CAPITAL LTD purchased a new stake in PRU valued at around $8,936,000 in the second quarter. In total, there are 1,526 active investors with 59.90% ownership of the company’s stock.
With an opening price of $96.55 on Monday morning, Prudential Financial Inc. (NYSE: PRU) set off the trading day. During the past 12 months, Prudential Financial Inc. has had a low of $75.37 and a high of $110.96. According to the stock market information, the enterprise value for the company is $51.88B, which is based on a 1109.08 price-to-earnings ratio, a 106.13 price-to-earnings-growth ratio, and a beta of 1.40. The fifty day moving average price for PRU is $87.58 and a two-hundred day moving average price translates $93.52 for the stock.
The latest earnings results from Prudential Financial Inc. (NYSE: PRU) was released for Mar, 2023. According to the Insurance – Life Company, earnings per share came in at $2.66, missing analysts’ expectations of $2.93 by -0.27. This compares to -$1.33 EPS in the same period last year. The net profit margin was 0.00% and return on equity was 0.10% for PRU. The company reported revenue of $17.05 billion for the quarter, compared to $11.86 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 43.78 percent. For the current quarter, analysts expect PRU to generate $12.65B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/15/2023. Investors who held shares on 05/23/2023 were paid a $1.25 dividend. On an annualized basis, this represents a $5.00 dividend and a 5.18% percent yield. There was an ex-dividend date of 05/22/2023 for this dividend.
Prudential Financial Inc.(PRU) Company Profile
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 Annuities, Individual Life, Assurance IQ, and International Businesses segments. The company offers investment management services and solutions related to public fixed income, public equity, real estate debt and equity, private credit and other alternatives, and multi-asset class strategies to institutional and retail clients, as well as its general account. It also provides a range of retirement investment, and income products and services to retirement plan sponsors in the public, private, and not-for-profit sectors; and group life, long-term and short-term group disability, and group corporate-, bank-, and trust-owned life insurance in the United States, primarily to institutional clients for use in connection with employee and membership benefits plans, as well as sells accidental death and dismemberment, and other supplemental health solutions; and provides plan administration services in connection with its insurance coverages. In addition, the company develops and distributes individual variable and fixed annuity products, principally to the mass affluent and affluent markets; and individual variable, term, and universal life insurance products to the mass middle, mass affluent, and affluent markets in the United States. Further, it provides third-party life, health, Medicare, property and casualty, and term life products to retail shoppers through its digital and agent channels. The company offers its products and services to individual and institutional customers through its proprietary and third-party distribution networks. Prudential Financial, Inc. was founded in 1875 and is headquartered in Newark, New Jersey.
