Prudential Financial, Inc. (NYSE: PRU) shares fell in early trading today on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, U.S. stocks edged lower Monday, with major indexes retreating from record levels.
The Dow Jones Industrial Average DJIA, -0.31% fell 48 points, or 0.2%, to 19,916, while the S&P 500 index SPX, -0.29% lost 5 points to 2,272, a drop of 0.2%. The Nasdaq Composite Index COMP, -0.03% rose 4 points to 5,529, a gain of about 0.1%.
Analysts at Barclays PLC reiterated a Buy rating on shares of Prudential Financial, Inc. (NYSE: PRU) in a reserach note to investors, making it one of the more closely watched stocks on Wall Street. With a rating of Buy on the shares, Prudential Financial, Inc. has a 52-week high of $108.29. As a means of comparison, a number of other analysts have spoken on the company recently, and the company has secured a consensus one-year price target of $109.93, above the opening price of $104.47. Share prices often shift to the upside on recommendations and new price targets of professional brokerage firms.
Shares of Prudential Financial, Inc. (NYSE: PRU) opened at $104.47 yesterday and traded in a range between, $103.93 and $104.83, and last traded at $104.60, which represents a dip of $0.55 compared to the previous closing price.
Prudential Financial, Inc. (NYSE: PRU) currently has a market cap of 44.98B.
Prudential Financial, Inc. (NYSE: PRU) Average Daily Trading Volume
The stock’s average daily volume is 2,592,280 shares out of a total float 429,041,000 and some 166,804 shares crossed the trading desk yesterday, 16 percent below the norm. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you’re considering.
Prudential Financial, Inc. (NYSE: PRU) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
Trades for Prudential Financial, Inc. (NYSE: PRU) have ranged from $57.19 – 108.29, and the stock now has a 50-day MA of $103.86 and 200-day MA of $85.44. Today’s last price is 3.41%% under the 52 week high of $108.29.
Earnings growth is a crucial factor to look at when buying stocks and investors seek companies that have grown their earnings at least 25% or more for a 3 year period.
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