Stock of the Day: Prudential Financial Inc on Focus After Trading At 52-Week Highs

Stock of the Day: Prudential Financial Inc on Focus After Trading At 52 Week Highs

The stock of Prudential Financial Inc (NYSE:PRU) hit a new 52-week high and has $159.65 target or 59.00% above today’s $100.41 share price. The 5 months bullish chart indicates low risk for the $43.17B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $159.65 price target is reached, the company will be worth $25.47 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.69 million shares traded hands. Prudential Financial Inc (NYSE:PRU) has risen 27.94% since April 19, 2016 and is uptrending. It has outperformed by 24.08% the S&P500.

Prudential Financial Inc (NYSE:PRU) Ratings Coverage

Out of 10 analysts covering Prudential Financial (NYSE:PRU), 6 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 60% are positive. Prudential Financial has been the topic of 21 analyst reports since August 6, 2015 according to StockzIntelligence Inc. On Thursday, February 11 the stock rating was maintained by Barclays Capital with “Overweight”. As per Friday, October 7, the company rating was initiated by Credit Suisse. The company was upgraded on Friday, November 18 by Bank of America. The company was maintained on Monday, May 16 by FBR Capital. Keefe Bruyette & Woods maintained the shares of PRU in a report on Thursday, November 12 with “Outperform” rating. Zacks upgraded Prudential Financial Inc (NYSE:PRU) rating on Monday, September 7. Zacks has “Buy” rating and $86 price target. The firm earned “Buy” rating on Friday, September 23 by Goldman Sachs. The firm has “Sector Perform” rating by RBC Capital Markets given on Thursday, February 11. The stock has “Market Perform” rating given by Wells Fargo on Friday, September 23. The firm earned “Neutral” rating on Wednesday, January 20 by Bank of America.

According to Zacks Investment Research, “Prudential Financial, Inc. is one of the largest financial services institutions in the United States. They provide a wide range of insurance, investment management and other financial products and services. The Prudential name and Rock logo are among the most widely recognized in the United States. They conduct their principal businesses through four divisions: U.S. Consumer, Employee Benefits, International and Asset Management. They also conduct other activities in Corporate and Other operations.”

Insitutional Activity: The institutional sentiment decreased to 0.85 in Q2 2016. Its down 0.16, from 1.01 in 2016Q1. The ratio worsened, as 52 funds sold all Prudential Financial Inc shares owned while 247 reduced positions. 58 funds bought stakes while 245 increased positions. They now own 258.74 million shares or 8.27% less from 282.08 million shares in 2016Q1.
Texas Permanent School Fund accumulated 143,403 shares or 0.14% of the stock. Convergence Investment Partners Lc has 0.17% invested in the company for 17,099 shares. Atlantic Tru Gp Ltd last reported 1.45 million shares in the company. Guggenheim Capital Limited Liability Corp owns 673,705 shares or 0.15% of their US portfolio. Moreover, Intrust Fincl Bank Na has 0.44% invested in Prudential Financial Inc (NYSE:PRU) for 15,273 shares. Koshinski Asset Mngmt Inc accumulated 0% or 4,710 shares. The Quebec – Canada-based Fiera Capital Corp has invested 0.01% in Prudential Financial Inc (NYSE:PRU). Massmutual Fsb Adv holds 0% or 200 shares in its portfolio. Legacy Private has 5,820 shares for 0.06% of their US portfolio. Foundry Prns Limited has 93,285 shares for 0.38% of their US portfolio. Hexavest last reported 0.82% of its portfolio in the stock. Tci Wealth Advsrs Incorporated has invested 0.01% of its portfolio in Prudential Financial Inc (NYSE:PRU). Metropolitan Life Insurance, a New York-based fund reported 230,476 shares. The Guernsey-based Bluecrest Cap Mngmt has invested 0.03% in Prudential Financial Inc (NYSE:PRU). The California-based Private Ocean Limited Liability has invested 0% in Prudential Financial Inc (NYSE:PRU).

Insider Transactions: Since August 8, 2016, the stock had 0 insider buys, and 24 selling transactions for $106.14 million net activity. STRANGFELD JOHN R JR sold $42.14 million worth of stock. $7.27 million worth of Prudential Financial Inc (NYSE:PRU) shares were sold by TAYLOR SHARON C. $1.94 million worth of Prudential Financial Inc (NYSE:PRU) was sold by Koster Barbara on Wednesday, November 9. Shares for $1.32 million were sold by FALZON ROBERT on Wednesday, November 9. Pelletier Stephen sold $341,329 worth of Prudential Financial Inc (NYSE:PRU) on Monday, August 8. $555,135 worth of Prudential Financial Inc (NYSE:PRU) was sold by Harris Timothy P on Wednesday, October 5. Another trade for 1,474 shares valued at $140,030 was made by Axel Robert on Thursday, November 10.

More notable recent Prudential Financial Inc (NYSE:PRU) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Johnson & Johnson, Prudential Financial and Manulife …” on November 16, 2016, also Reuters.com with their article: “Fitch Upgrades Prudential Financial, Inc.’s Ratings” published on November 15, 2016, Nasdaq.com published: “Prudential Financial, Inc. (PRU) Ex-Dividend Date Scheduled for November 18, 2016” on November 17, 2016. More interesting news about Prudential Financial Inc (NYSE:PRU) were released by: Nasdaq.com and their article: “Commit To Buy Prudential Financial At $75, Earn 7.9% Using Options” published on November 21, 2016 as well as Businesswire.com‘s news article titled: “Prudential Financial, Inc. Announces Third Quarter 2016 Results” with publication date: November 02, 2016.

PRU Company Profile

Prudential Financial, Inc., incorporated in 1999, is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial services and products, including life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management division; U.S. Individual Life and Group Insurance division, and International Insurance division. The Firm also has corporate and other operations, which include corporate items and initiatives that are not allocated to its business divisions and divested businesses. It offers services and products to individual and institutional clients through third-party distribution networks. The Firm has approximately $1.184 trillion of assets under management (AUM), and has activities in the United States, Asia, Europe and Latin America. The Company’s investment portfolio consists of public and private fixed maturity securities, commercial mortgage and other loans, equity securities and other invested assets.

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