The stock of Prudential Financial Inc (NYSE:PRU) hit a new 52-week high and has $129.86 target or 47.00% above today’s $88.34 share price. The 8 months bullish chart indicates low risk for the $38.60 billion company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $129.86 price target is reached, the company will be worth $18.14B 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 688,535 shares traded hands. Prudential Financial Inc (NYSE:PRU) has risen 20.49% since April 5, 2016 and is uptrending. It has outperformed by 18.54% the S&P500.
Prudential Financial Inc (NYSE:PRU) Ratings Coverage
Out of 10 analysts covering Prudential Financial (NYSE:PRU), 5 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 50% are positive. $105 is the highest target while $78 is the lowest. The $88.33 average target is -0.01% below today’s ($88.34) stock price. Prudential Financial has been the topic of 20 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock of Prudential Financial Inc (NYSE:PRU) earned “Buy” rating by Goldman Sachs on Friday, September 23. The stock of Prudential Financial Inc (NYSE:PRU) earned “Buy” rating by Zacks on Monday, September 7. The company was maintained on Thursday, February 11 by RBC Capital Markets. The stock has “Outperform” rating given by FBR Capital on Monday, May 16. Bank of America downgraded the shares of PRU in a report on Wednesday, June 29 to “Underperform” rating. On Friday, October 7 the stock rating was initiated by Credit Suisse with “Neutral”. The stock of Prudential Financial Inc (NYSE:PRU) earned “Mkt Perform” rating by FBR Capital on Tuesday, October 18. The stock of Prudential Financial Inc (NYSE:PRU) earned “Buy” rating by Deutsche Bank on Monday, September 7. The rating was downgraded by Bank of America to “Neutral” on Wednesday, January 20. Keefe Bruyette & Woods maintained Prudential Financial Inc (NYSE:PRU) rating on Thursday, November 12. Keefe Bruyette & Woods has “Outperform” rating and $101 price target.
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 1.01 in 2016 Q2. Its down 0.03, from 1.04 in 2016Q1. The ratio turned 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.
Boston Advisors Ltd Liability Corp last reported 241,447 shares in the company. Chicago Equity Ltd Liability, a Illinois-based fund reported 7,680 shares. Tru Of Virginia Va holds 1.13% of its portfolio in Prudential Financial Inc (NYSE:PRU) for 91,071 shares. Los Angeles And Equity Rech holds 0.08% of its portfolio in Prudential Financial Inc (NYSE:PRU) for 139,503 shares. Guardian Life Insurance Of America accumulated 0.01% or 1,672 shares. The United Kingdom-based Barclays Public Ltd Co has invested 0.04% in Prudential Financial Inc (NYSE:PRU). Oarsman Capital reported 23,231 shares or 0.86% of all its holdings. Lord Abbett Communications Llc last reported 0.3% of its portfolio in the stock. Moody Natl Bank Trust Division last reported 23,765 shares in the company. Moreover, Highlander Capital Management Ltd Liability has 0.02% invested in Prudential Financial Inc (NYSE:PRU) for 300 shares. Cambridge Invest Research holds 0.03% of its portfolio in Prudential Financial Inc (NYSE:PRU) for 17,161 shares. The Ontario – Canada-based Scotia Inc has invested 0.04% in Prudential Financial Inc (NYSE:PRU). Commonwealth Bank Of Australia, a Australia-based fund reported 13,596 shares. Md Sass Service Incorporated has 356,898 shares for 1.25% of their US portfolio. Duncker Streett Co holds 46 shares or 0% of its portfolio.
Insider Transactions: Since August 8, 2016, the stock had 0 insider purchases, and 10 selling transactions for $24.22 million net activity. Shares for $341,329 were sold by Pelletier Stephen. Lowrey Charles F sold 41,644 shares worth $3.33M. 6,531 shares with value of $555,135 were sold by Harris Timothy P on Wednesday, October 5. $7.27M worth of Prudential Financial Inc (NYSE:PRU) was sold by TAYLOR SHARON C. 9,379 shares with value of $797,731 were sold by Sleyster Scott on Friday, October 14. On Wednesday, October 5 the insider FALZON ROBERT sold $831,385.
More news for Prudential Financial Inc (NYSE:PRU) were recently published by: Businesswire.com, which released: “Prudential Financial, Inc. Announces Third Quarter 2016 Results” on November 02, 2016. Nasdaq.com‘s article titled: “Earnings Reaction History: Prudential Financial Inc, 50.0% Follow-Through …” and published on November 02, 2016 is yet another important article.
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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