Prudential Financial (NYSE:PRU) Stock Price Expected to Rise, Mizuho Analyst Says

Key Points

• Mizuho raised its price target on Prudential Financial from $116 to $120 but maintained a neutral rating; the target implies 2.44% downside from the stock’s current price.
• Analyst sentiment is broadly cautious: MarketBeat’s consensus rating is “Reduce,” based on two Buy, nine Hold, and six Sell ratings, with an average price target of $115.
• Prudential reported quarterly EPS of $3.77, beating estimates of $3.33, while revenue of $14.45 billion fell short of the $14.66 billion consensus.

Prudential Financial (NYSE:PRU - Get Free Report) had its target price lifted by investment analysts at Mizuho from $116.00 to $120.00 in a report released on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. Mizuho's price objective indicates a potential downside of 2.44% from the stock's current price.

Several other equities analysts also recently commented on the stock. Bank of America reissued a "neutral" rating on shares of Prudential Financial in a research note on Wednesday, November 4th. Wells Fargo & Company cut their price objective on Prudential Financial from $104.00 to $103.00 and set an "underweight" rating on the stock in a report on Wednesday, October 28th. Deutsche Bank reduced their price objective on Prudential Financial from $105.00 to $102.00 and set a "hold" rating on the stock in a research report on Friday, October 23rd. Wall Street Zen downgraded Prudential Financial from a "buy" rating to a "hold" rating in a research report on Monday, September 28th. Finally, Morgan Stanley cut their price target on Prudential Financial from $105.00 to $100.00 and set an "underweight" rating on the stock in a research note on Monday, October 19th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $115.00.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $123.00 on Thursday. The firm has a 50 day moving average of $117.26 and a 200-day moving average of $109.18. Prudential Financial has a 12 month low of $91.89 and a 12 month high of $128.78. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $42.19 billion, a PE ratio of 11.19, a PEG ratio of 1.95 and a beta of 0.85.

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

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Robert E. Boyle sold 2,794 shares of the company's stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $121.24, for a total transaction of $338,744.56. Following the completion of the transaction, the senior vice president owned 6,008 shares of the company's stock, valued at $728,409.92. This represents a 31.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ann Kappler sold 7,652 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the sale, the executive vice president owned 14,407 shares of the company's stock, valued at approximately $1,801,019.07. This trade represents a 34.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 16,787 shares of company stock worth $2,062,597. 0.05% of the stock is currently owned by company insiders.

Institutional Trading of Prudential Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRU. State Street Corp raised its holdings in Prudential Financial by 1.6% in the 3rd quarter. State Street Corp now owns 17,441,429 shares of the financial services provider's stock worth $1,980,998,000 after purchasing an additional 276,669 shares in the last quarter. Cornerstone Select Advisors LLC increased its position in shares of Prudential Financial by 42.5% during the third quarter. Cornerstone Select Advisors LLC now owns 4,358 shares of the financial services provider's stock valued at $495,000 after buying an additional 1,300 shares during the period. Patron Partners LLC increased its position in shares of Prudential Financial by 12.3% during the third quarter. Patron Partners LLC now owns 11,637 shares of the financial services provider's stock valued at $1,322,000 after buying an additional 1,272 shares during the period. Advisors Asset Management Inc. bought a new position in Prudential Financial in the third quarter worth about $3,097,000. Finally, Private Wealth Asset Management LLC raised its stake in Prudential Financial by 3,404.3% in the third quarter. Private Wealth Asset Management LLC now owns 3,224 shares of the financial services provider's stock worth $384,000 after buying an additional 3,132 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

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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