Prudential Financial (NYSE:PRU) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Prudential Financial (NYSE:PRU) had its price target hoisted by investment analysts at Wells Fargo & Company from $113.00 to $118.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 6.23% from the company’s current price.

PRU has been the topic of a number of other reports. Piper Sandler dropped their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. TD Cowen increased their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Barclays upped their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target for the company. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price target for the company from $117.00 to $140.00 in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $125.69.

Prudential Financial Trading Down 0.5 %

NYSE PRU opened at $111.08 on Wednesday. Prudential Financial has a 1-year low of $104.44 and a 1-year high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $39.77 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.99 and a beta of 1.31. The firm’s fifty day simple moving average is $117.10 and its 200-day simple moving average is $119.59.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, sell-side analysts anticipate that Prudential Financial will post 14.34 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PRU. Savant Capital LLC boosted its position in shares of Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock worth $1,705,000 after purchasing an additional 83 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Prudential Financial by 1.2% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 89 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in shares of Prudential Financial by 1.0% during the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider’s stock worth $1,116,000 after purchasing an additional 91 shares in the last quarter. Finally, 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 purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds 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.