The stock of Prudential Financial Inc (NYSE:PRU) hit a new 52-week high and has $109.71 target or 7.00% above today’s $102.53 share price. The 7 months bullish chart indicates low risk for the $44.43B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $109.71 price target is reached, the company will be worth $3.11 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 2.93M shares traded hands. Prudential Financial Inc (NYSE:PRU) has risen 29.07% since April 28, 2016 and is uptrending. It has outperformed by 23.15% the S&P500.
Analysts await Prudential Financial Inc (NYSE:PRU) to report earnings on February, 8. They expect $2.31 EPS, up 19.07% or $0.37 from last year’s $1.94 per share. PRU’s profit will be $1.00B for 11.10 P/E if the $2.31 EPS becomes a reality. After $2.66 actual EPS reported by Prudential Financial Inc for the previous quarter, Wall Street now forecasts -13.16% negative EPS growth.
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 22 analyst reports since August 6, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Prudential Financial Inc (NYSE:PRU) rating on Thursday, February 11. RBC Capital Markets has “Sector Perform” rating and $80 price target. The firm has “Overweight” rating given on Thursday, February 11 by Barclays Capital. The rating was initiated by Credit Suisse on Friday, October 7 with “Neutral”. The rating was maintained by Keefe Bruyette & Woods on Thursday, November 12 with “Outperform”. Wells Fargo reinitiated the stock with “Market Perform” rating in Friday, September 23 report. FBR Capital maintained the shares of PRU in a report on Monday, May 16 with “Outperform” rating. The rating was maintained by FBR Capital with “Mkt Perform” on Monday, November 28. The company was downgraded on Tuesday, October 18 by FBR Capital. As per Friday, September 23, the company rating was upgraded by Goldman Sachs. Deutsche Bank upgraded the shares of PRU in a report on Monday, September 7 to “Buy” rating.
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 is negative, 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.
Marshall Wace Ltd Liability Partnership has invested 0.07% of its portfolio in Prudential Financial Inc (NYSE:PRU). The New York-based Tower Capital Limited Liability Corporation (Trc) has invested 0.09% in Prudential Financial Inc (NYSE:PRU). Chevy Chase Trust holds 378,709 shares or 0.15% of its portfolio. Moreover, United Svcs Automobile Association has 0.09% invested in Prudential Financial Inc (NYSE:PRU) for 352,067 shares. Us National Bank De last reported 0.09% of its portfolio in the stock. Blair William Com Il holds 0% or 6,644 shares in its portfolio. Wfg Advsrs Ltd Partnership holds 0% of its portfolio in Prudential Financial Inc (NYSE:PRU) for 33 shares. Cutler Mngmt Ltd Company last reported 8,000 shares in the company. Blackrock Fund Advsrs last reported 4.93 million shares in the company. Mycio Wealth Prtnrs Ltd Company last reported 496 shares in the company. Regent Inv Llc reported 27,905 shares or 1.08% of all its holdings. Zweig Advisers Ltd Co, a Connecticut-based fund reported 156,000 shares. Moreover, Orrstown Financial Svcs has 1.18% invested in Prudential Financial Inc (NYSE:PRU) for 15,329 shares. Cubist Systematic Strategies Ltd Liability reported 5,708 shares or 0.02% of all its holdings. Perkins Coie Co, a Washington-based fund reported 476 shares.
Insider Transactions: Since August 8, 2016, the stock had 0 buys, and 24 insider sales for $106.14 million net activity. Pelletier Stephen sold $3.17M worth of stock or 39,617 shares. Shares for $1.04M were sold by TAYLOR SHARON C. The insider Silitch Nicholas C sold 52,193 shares worth $4.61 million. $3.33M worth of shares were sold by Lowrey Charles F on Friday, September 9. Harris Timothy P sold $555,135 worth of Prudential Financial Inc (NYSE:PRU) on Wednesday, October 5. $1.32M worth of Prudential Financial Inc (NYSE:PRU) was sold by FALZON ROBERT on Wednesday, November 9. STRANGFELD JOHN R JR also sold $42.14M worth of Prudential Financial Inc (NYSE:PRU) shares.
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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