Wells Fargo & Company Issues Pessimistic Forecast for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its price objective reduced by research analysts at Wells Fargo & Company from $117.00 to $115.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 1.91% from the stock’s current price.

Several other research analysts have also commented on the company. Jefferies Financial Group lifted their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler raised their price target on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Bank of America lifted their target price on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, TD Cowen lifted their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $127.00.

Prudential Financial Stock Up 0.8 %

NYSE PRU traded up $0.95 during mid-day trading on Tuesday, reaching $117.24. 135,612 shares of the company’s stock traded hands, compared to its average volume of 1,163,644. Prudential Financial has a 1-year low of $100.60 and a 1-year high of $130.55. The company has a fifty day simple moving average of $122.43 and a 200-day simple moving average of $120.66. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a market cap of $41.74 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 0.87 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter last year, the firm earned $3.44 EPS. As a group, equities research analysts expect that Prudential Financial will post 13.35 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Glenmede Trust Co. NA grew its stake in Prudential Financial by 7.4% in the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 1,234 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after buying an additional 15,695 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Prudential Financial by 2.3% in the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock worth $9,597,000 after buying an additional 1,765 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Prudential Financial by 4.3% in the third quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock worth $19,701,000 after buying an additional 6,641 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of Prudential Financial by 18.7% in the third quarter. HighTower Advisors LLC now owns 69,542 shares of the financial services provider’s stock worth $8,395,000 after buying an additional 10,964 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.