Prudential Financial (NYSE:PRU) Price Target Raised to $152.00 at Jefferies Financial Group

Prudential Financial (NYSE:PRU) had its price objective hoisted by research analysts at Jefferies Financial Group from $149.00 to $152.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price target indicates a potential upside of 24.75% from the stock’s current price.

A number of other research firms have also recently commented on PRU. Piper Sandler lifted their target price on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Morgan Stanley reduced their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. UBS Group boosted their target price on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price objective for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Eleven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $126.33.

Prudential Financial Stock Down 0.6 %

PRU traded down $0.72 during mid-day trading on Tuesday, reaching $121.84. 210,100 shares of the stock were exchanged, compared to its average volume of 1,489,227. The company has a 50 day moving average price of $124.95 and a two-hundred day moving average price of $120.43. The stock has a market capitalization of $43.38 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial has a 1 year low of $100.60 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate 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 net margin of 6.03% and a return on equity of 15.30%. During the same quarter last year, the business posted $3.44 EPS. As a group, research analysts anticipate that Prudential Financial will post 13.35 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Prudential Financial

Several hedge funds and other institutional investors have recently bought and sold shares of PRU. International Assets Investment Management LLC lifted its holdings in shares of Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after acquiring an additional 1,267,571 shares during the last quarter. AQR Capital Management LLC raised its position in Prudential Financial by 97.4% in the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after purchasing an additional 357,300 shares during the period. FMR LLC lifted its stake in Prudential Financial by 31.3% in the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after purchasing an additional 344,254 shares during the last quarter. Geode Capital Management LLC boosted its position in Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after buying an additional 341,787 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after buying an additional 305,143 shares during the period. 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.