Prudential Financial Inc. (NYSE:PRU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $118.00 price target on the stock. Zacks Investment Research’s price target would indicate a potential upside of 11.75% from the stock’s previous close.
According to Zacks, “Shares of Prudential Financial have gained 24.72% over the last three months, outperforming the Zacks categorized Multi Line insurance industry’s growth of 15.25%. Prudential remains well poised for growth on the back of its high performing asset management business, widespread international operations and deeper reach in the pension risk transfer market. It strives to build its leadership position in the pension risk transfer market which has great potential. Expanded international presence provides it with better organic growth opportunities than peers. Also, a strong balance sheet and efficient capital management are tailwinds. However, exposure to low interest rates, unfavorable currency impact and regulatory control remain headwinds. The company is set to report its fourth quarter results on Feb 8. A Zacks Rank #2 combined with Earnings ESP of 0.43% makes us reasonably confident of an earnings beat.”
Several other research analysts also recently issued reports on PRU. Goldman Sachs Group Inc. upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $80.00 to $93.00 in a research report on Friday, September 23rd. Wells Fargo & Co. started coverage on shares of Prudential Financial in a research report on Friday, September 23rd. They set a “market perform” rating on the stock. Credit Suisse Group AG started coverage on shares of Prudential Financial in a research report on Friday, October 7th. They set a “neutral” rating and a $89.00 price target on the stock. FBR & Co downgraded shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $86.00 price target on the stock. in a research report on Tuesday, October 18th. They noted that the move was a valuation call. Finally, Bank of America Corp. upgraded shares of Prudential Financial from an “underperform” rating to a “buy” rating in a research report on Friday, November 18th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $97.00.
Prudential Financial (NYSE:PRU) opened at 105.59 on Tuesday. Prudential Financial has a 52-week low of $57.19 and a 52-week high of $108.29. The stock has a market capitalization of $45.40 billion, a P/E ratio of 9.95 and a beta of 1.73. The stock has a 50 day moving average of $104.93 and a 200 day moving average of $87.36.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $2.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $0.17. Prudential Financial had a net margin of 8.45% and a return on equity of 7.73%. During the same quarter in the prior year, the business posted $2.40 EPS. On average, equities research analysts forecast that Prudential Financial will post $9.03 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. Oakworth Capital Inc. boosted its position in Prudential Financial by 21.8% in the third quarter. Oakworth Capital Inc. now owns 1,297 shares of the company’s stock valued at $106,000 after buying an additional 232 shares in the last quarter. Bessemer Group Inc. boosted its position in Prudential Financial by 6.7% in the second quarter. Bessemer Group Inc. now owns 1,516 shares of the company’s stock valued at $108,000 after buying an additional 95 shares in the last quarter. Global X Management Co. LLC boosted its position in Prudential Financial by 272.3% in the third quarter. Global X Management Co. LLC now owns 1,489 shares of the company’s stock valued at $122,000 after buying an additional 1,089 shares in the last quarter. Tradewinds Capital Management LLC boosted its position in Prudential Financial by 2.8% in the third quarter. Tradewinds Capital Management LLC now owns 1,601 shares of the company’s stock valued at $131,000 after buying an additional 43 shares in the last quarter. Finally, Cantab Capital Partners LLP purchased a new position in Prudential Financial during the second quarter valued at $132,000. 60.26% of the stock is owned by institutional investors and hedge funds.
About Prudential Financial
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.
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