Prudential Financial (NYSE:PRU) Price Target Raised to $125.00

Key Points

• UBS raised Prudential Financial’s price target to $125 from $92 but maintained a neutral rating; the new target implies just 1.62% upside from the prior close. Analysts’ consensus rating is “Reduce,” with an average target of $114.20.
• Prudential reported quarterly earnings of $3.77 per share, beating the $3.33 consensus estimate, while revenue of $14.45 billion fell short of expectations.
• Company insiders sold a combined 16,787 shares worth about $2.06 million over the past three months, including sales by the CEO and an executive vice president.

Prudential Financial (NYSE:PRU - Get Free Report) had its target price hoisted by analysts at UBS Group from $92.00 to $125.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. UBS Group's target price indicates a potential upside of 1.62% from the company's previous close.

A number of other equities analysts have also recently commented on the stock. BMO Capital Markets boosted their price target on shares of Prudential Financial from $90.00 to $120.00 and gave the stock an "underperform" rating in a research note on Friday, August 21st. Bank of America restated a "neutral" rating on shares of Prudential Financial in a research report on Wednesday, November 4th. Piper Sandler lifted their price objective on shares of Prudential Financial from $120.00 to $133.00 and gave the stock a "neutral" rating in a report on Thursday, November 5th. Deutsche Bank cut their target price on shares of Prudential Financial from $105.00 to $102.00 and set a "hold" rating for the company in a research report on Friday, October 23rd. Finally, Wall Street Zen cut Prudential Financial from a "buy" rating to a "hold" rating in a research note on Monday, September 28th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of "Reduce" and a consensus target price of $114.20.

Prudential Financial Stock Down 0.2%

Shares of NYSE:PRU traded down $0.30 during mid-day trading on Wednesday, hitting $123.00. 1,107,159 shares of the company traded hands, compared to its average volume of 2,012,656. The stock has a market cap of $42.19 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.93 and a beta of 0.85. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.66. Prudential Financial has a 12-month low of $91.89 and a 12-month high of $128.78. The stock has a 50-day moving average price of $117.14 and a two-hundred day moving average price of $109.10.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.44. Prudential Financial had a return on equity of 16.38% and a net margin of 6.75%. The business had revenue of $14.45 billion for the quarter, compared to analysts' expectations of $14.66 billion. During the same quarter in the previous year, the firm earned $4.26 earnings per share. On average, equities research analysts forecast that Prudential Financial will post 13.60 earnings per share for the current year.

Insider Transactions at Prudential Financial

In other news, CEO Andrew F. Sullivan sold 3,544 shares of the business's stock in a transaction on Friday, November 6th. The shares were sold at an average price of $121.32, for a total value of $429,958.08. Following the transaction, the chief executive officer owned 50,317 shares of the company's stock, valued at approximately $6,104,458.44. The trade was a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann M. Kappler sold 2,797 shares of the firm's stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $120.60, for a total value of $337,318.20. Following the transaction, the executive vice president owned 14,482 shares of the company's stock, valued at approximately $1,746,529.20. The trade was a 16.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,787 shares of company stock worth $2,062,597 in the last three months. Corporate insiders own 0.05% of the company's stock.

Institutional Trading of Prudential Financial

Several hedge funds have recently modified their holdings of PRU. Archer Investment Corp bought a new stake in Prudential Financial in the second quarter worth $26,000. Meeder Asset Management Inc. grew its stake in shares of Prudential Financial by 164.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 225 shares of the financial services provider's stock worth $26,000 after buying an additional 140 shares in the last quarter. Team Financial Group LLC purchased a new position in shares of Prudential Financial in the 3rd quarter worth $27,000. Heritage Family Offices LLP bought a new stake in shares of Prudential Financial in the 3rd quarter worth about $33,000. Finally, MADDEN SECURITIES Corp purchased a new stake in shares of Prudential Financial during the 3rd quarter valued at about $38,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

More Prudential Financial News

These are some of the PRU news items that stood out recently:

• Positive Sentiment: Prudential declared a quarterly dividend of $1.40 per share, payable December 10 to shareholders of record November 24. That equates to $5.60 annually and a roughly 4.5%–4.6% yield, supporting the stock’s appeal to income investors. The announcement did not indicate a dividend increase. Dividend announcement
• Negative Sentiment: Three executives reported selling a combined 9,135 shares on November 6 for about $1.11 million. CEO Andrew F. Sullivan, EVP Ann Kappler, and SVP Robert E. Boyle each reduced their holdings. Insider sales can create a near-term sentiment headwind, although the filings do not explain the reasons for the transactions. Read More., Read More., Read More..

Prudential Financial Company Profile

Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.

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