Prudential Financial Inc. [PRU] stock is trading at $111.52, up 0.38%. An important factor to consider is whether the stock is rising or falling in short-term value. The PRU shares have gain 4.14% over the last week, with a monthly amount glided 2.68%, and seem to be holding up well over a long-time horizon.
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On 6, March 2024, Prudential and RGA entrusted to fulfill $5.9 billion in pension promises for Verizon. In a post published today on Yahoo Finance, Prudential Financial, Inc. (NYSE: PRU) and Reinsurance Group of America, Incorporated (NYSE: RGA) have been selected in a pension risk transfer involving Verizon Communications Inc. The transaction will settle approximately $5.9 billion of Verizon pension liabilities and will provide retirement security for a population that includes 56,000 Verizon retirees and their beneficiaries who commenced their benefits before Jan. 1, 2023.
From an analyst’s perspective:
Prudential Financial Inc. [NYSE: PRU] stock has seen the most recent analyst activity on February 09, 2024, when Raymond James downgraded its rating to a Mkt Perform. Previously, JP Morgan downgraded its rating to Neutral on January 03, 2024, and dropped its price target to $118. On October 05, 2023, Deutsche Bank initiated with a Hold rating and assigned a price target of $99 on the stock. Jefferies upgraded its rating to a Hold and increased its price target to $93 on September 14, 2023. Raymond James upgraded its rating to a Strong Buy but $125 remained the price target by the analyst firm on August 24, 2023. JP Morgan upgraded its rating to Overweight for this stock on April 04, 2023, but kept the price target unchanged to $114. In a note dated January 09, 2023, Goldman downgraded an Sell rating on this stock and revised its target price from $98 to $96.
Prudential Financial Inc. [PRU] stock has fluctuated between $75.37 and $111.91 over the past year. Currently, Wall Street analysts expect the stock to reach $103.89 within the next 12 months. Prudential Financial Inc. [NYSE: PRU] shares were valued at $111.52 at the most recent close of the market. An investor can expect a potential drop of -6.84% based on the average PRU price forecast.
Analyzing the PRU fundamentals
Prudential Financial Inc. [NYSE:PRU] reported sales of 52.45B for the trailing twelve months, which represents a growth of 1.62%. Gross Profit Margin for this corporation currently stands at 1.0% with Operating Profit Margin at 0.03%, Pretax Profit Margin comes in at 0.06%, and Net Profit Margin reading is 0.05%. To continue investigating profitability, this company’s Return on Assets is posted at 0.0, Equity is 0.09 and Total Capital is 0.0. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.75.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 110.61 points at the first support level, and at 109.69 for the second support level. However, for the 1st resistance point, the stock is sitting at 112.02, and for the 2nd resistance point, it is at 112.51.
Prudential Financial Inc. [PRU] reported earnings per share of $2.58 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $2.6/share, meaning a difference of -$0.02 and a surprise factor of -0.80%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $3.44 per share as compared to estimates of $3.13 per share, a difference of $0.31 representing a surprise of 9.90%.
Ratios To Look Out For
For context, Prudential Financial Inc.’s Current Ratio is 3.53. Considering the valuation of this stock, the price to sales ratio is 0.76, the price to book ratio is 1.44 and price to earnings (TTM) ratio is 16.57.
Transactions by insiders
Recent insider trading involved SCHMIDT TIMOTHY L, Senior Vice President, that happened on Feb 29 ’24 when 7912.0 shares were sold. EVP and General Counsel, KAPPLER ANN M completed a deal on Feb 28 ’24 to sell 7222.0 shares. Meanwhile, EVP and CFO TANJI KENNETH sold 44712.0 shares on Feb 23 ’24.
