Barclays Raises Prudential Financial (NYSE:PRU) Price Target to $128.00

Prudential Financial (NYSE:PRU) had its target price increased by analysts at Barclays from $127.00 to $128.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target points to a potential upside of 9.11% from the company’s previous close.

Several other analysts have also commented on the stock. Keefe, Bruyette & Woods cut their target price on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research note on Thursday, January 16th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Jefferies Financial Group boosted 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. TD Cowen boosted their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday. They issued an “underperform” rating and a $101.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $125.31.

Prudential Financial Trading Down 2.5 %

Prudential Financial stock opened at $117.32 on Thursday. The stock has a market capitalization of $41.76 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 1.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial has a 12-month low of $100.60 and a 12-month high of $130.55. The firm has a 50 day simple moving average of $121.68 and a 200-day simple moving average of $120.69.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. The business 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 in the prior year, the firm posted $3.44 earnings per share. As a group, equities research analysts expect that Prudential Financial will post 13.26 EPS for the current fiscal year.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

A number of hedge funds have recently modified their holdings of the business. Grove Bank & Trust lifted its position in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of Prudential Financial by 1.2% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 89 shares in the last quarter. Asset Dedication LLC boosted its position in shares of Prudential Financial by 28.4% during the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after buying an additional 93 shares during the period. Daymark Wealth Partners LLC raised its position in Prudential Financial by 3.9% in the 3rd quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock valued at $317,000 after buying an additional 97 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Prudential Financial by 2.7% in the 3rd quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 97 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

About Prudential Financial

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.