Prudential Financial Inc. (NYSE: PRU) stock jumped 0.69% on Thursday to $80.07 against a previous-day closing price of $79.52. With 2.0 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.73 million shares. During the session, the Insurance – Life company that operates in wider Financial sector, reached to the highest price of $80.33 whereas the lowest price it dropped to was $78.77. The 52-week range on PRU shows that it touched its highest point at $110.96 and its lowest point at $75.37 during that stretch. It currently has a 1-year price target of $91.36. With its current market cap of 29.35 billion, PRU has annualized dividend of $5.00 while the current yield stands at 6.24%. Beta for the stock currently stands at 1.39.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PRU was down-trending over the past week, with a drop of -2.82%, but this was down by -4.34% over a month. Three-month performance dropped to -19.15% while six-month performance fell -26.24%. The stock lost -20.64% in the past year, while it has lost -19.50% so far this year. A look at the trailing 12-month EPS for PRU yields 0.09 with Next year EPS estimates of 13.11. For the next quarter, that number is 3.12. This implies an EPS growth rate of -120.10% for this year and 8.01% for next year. EPS is expected to grow by 2.87% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -18.60%.
Float and Shares Shorts:
At present, 366.50 million PRU shares are outstanding with a float of 361.35 million shares on hand for trading. On May 14, 2023, short shares totaled 6.56 million, which was 1.80% higher than short shares on Apr 13, 2023. In addition to Mr. Charles Frederick Lowrey Jr. as the firm’s Chairman, CEO & Pres, Mr. Robert Michael Falzon CFA serves as its Exec. Vice Chairman.
Other institutions hold 29.48% of PRU, in contrast to 28.52% held by mutual funds. Shares owned by individuals account for 0.73%. As the largest shareholder in PRU with 8.28% of the stake, The Vanguard Group, Inc. holds 30,302,746 shares worth 30,302,746. A second-largest stockholder of PRU, BlackRock Fund Advisors, holds 22,079,187 shares, controlling over 6.03% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in PRU, holding 16,556,706 shares or 4.52% stake. With a 3.11% stake in PRU, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 11,386,989 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.36% of PRU stock, is the second-largest Mutual Fund holder. It holds 8,637,589 shares valued at 751.47 million. Fidelity 500 Index Fund holds 1.11% of the stake in PRU, owning 4,072,052 shares worth 354.27 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PRU since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PRU analysts setting a high price target of $114.00 and a low target of $68.00, the average target price over the next 12 months is $93.00. Based on these targets, PRU could surge 42.38% to reach the target high and fall by -15.07% to reach the target low. Reaching the average price target will result in a growth of 16.15% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded PRU stock several times over the past three months with 22 Buys and 23 Sells. In these transactions, 70,960 shares were bought while 38,400 shares were sold. The number of buy transactions has increased to 39 while that of sell transactions has risen to 45 over the past year. The total number of shares bought during that period was 247,152 while 141,029 shares were sold.