JPMorgan Chase & Co. Issues Pessimistic Forecast for Prudential Financial (NYSE:PRU) Stock Price

Key Points

• JPMorgan lowered its Prudential Financial price target from $131 to $127 while maintaining a “neutral” rating, implying roughly 10.5% upside from the stock’s reported $114.95 price.
• Analyst sentiment remains cautious: Prudential has a consensus “Reduce” rating and an average price target of $108.15, based on one Buy, ten Hold, and five Sell ratings.
• Prudential reported quarterly EPS of $4.08, beating the $3.52 consensus estimate, while shares rose 1.3%. Recent insider transactions included stock sales by an executive and a major shareholder.

Prudential Financial (NYSE:PRU - Get Free Report) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $131.00 to $127.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 10.49% from the company's current price.

Other equities research analysts also recently issued reports about the company. Mizuho set a $108.00 price target on Prudential Financial in a report on Monday. TD Cowen increased their target price on shares of Prudential Financial from $102.00 to $114.00 and gave the stock a "hold" rating in a report on Wednesday, July 22nd. Piper Sandler reduced their price target on shares of Prudential Financial from $128.00 to $120.00 and set a "neutral" rating on the stock in a research report on Monday. Barclays increased their price objective on shares of Prudential Financial from $92.00 to $96.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 7th. Finally, Morgan Stanley raised their target price on shares of Prudential Financial from $92.00 to $105.00 and gave the stock an "underweight" rating in a report on Monday, August 24th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $108.15.

Prudential Financial Stock Up 1.3%

Shares of Prudential Financial stock traded up $1.46 during trading hours on Thursday, hitting $114.95. 504,432 shares of the company's stock traded hands, compared to its average volume of 2,014,214. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62. Prudential Financial has a twelve month low of $91.89 and a twelve month high of $127.72. The stock has a 50 day simple moving average of $118.66 and a 200-day simple moving average of $110.58. The company has a market cap of $39.66 billion, a PE ratio of 10.40, a PEG ratio of 1.68 and a beta of 0.85.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts' consensus estimates of $3.52 by $0.56. The business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same quarter last year, the company earned $3.58 earnings per share. Equities research analysts anticipate that Prudential Financial will post 14.50 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Ann Kappler sold 7,652 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the sale, the executive vice president owned 14,407 shares of the company's stock, valued at $1,801,019.07. This trade represents a 34.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of Prudential Financial stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the completion of the sale, the insider owned 7,973,657 shares in the company, valued at approximately $197,348,010.75. This represents a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Prudential Financial

Several large investors have recently added to or reduced their stakes in PRU. Archer Investment Corp acquired a new stake in Prudential Financial in the 2nd quarter worth approximately $26,000. SJS Investment Consulting Inc. increased its stake in Prudential Financial by 93.1% in the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 134 shares during the period. Union Savings Bank bought a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $35,000. Reflection Asset Management bought a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $39,000. Finally, EFG International AG raised its holdings in shares of Prudential Financial by 452.2% in the 2nd quarter. EFG International AG now owns 381 shares of the financial services provider's stock worth $41,000 after buying an additional 312 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

About Prudential Financial

Prudential Financial, Inc NYSE: PRU is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in 1875 and headquartered in Newark, New Jersey, the company serves individual, institutional and workplace customers through businesses in the United States and selected international markets.

In the United States, Prudential offers life insurance, annuities, retirement plans and group insurance products, including coverage for employees and their families.

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