Prudential Financial (NYSE:PRU) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Prudential Financial from “hold” to “buy,” though broader analyst sentiment remains cautious, with an average “Reduce” rating and $109.31 price target.
• Prudential reported quarterly EPS of $4.08, beating estimates of $3.52, while revenue came in at $14.15 billion versus the $14.36 billion consensus forecast.
• Institutional investors own 56.83% of the company, with major purchases during the second quarter from California State Teachers Retirement System, BlackRock and other large institutions; company insiders own just 0.05%.

Prudential Financial (NYSE:PRU - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other brokerages have also recently commented on PRU. Zacks Research raised Prudential Financial from a "strong sell" rating to a "hold" rating in a research report on Friday, June 12th. Argus cut Prudential Financial from a "buy" rating to a "hold" rating in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods increased their price objective on Prudential Financial from $113.00 to $123.00 and gave the company a "market perform" rating in a report on Tuesday, August 11th. Morgan Stanley boosted 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. Finally, JPMorgan Chase & Co. upped their price target on shares of Prudential Financial from $129.00 to $131.00 and gave the stock a "neutral" rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Prudential Financial has an average rating of "Reduce" and an average price target of $109.31.

Prudential Financial Stock Down 0.5%

Shares of PRU stock opened at $119.80 on Friday. The firm's fifty day moving average price is $117.95 and its two-hundred day moving average price is $106.27. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. Prudential Financial has a 1 year low of $91.89 and a 1 year high of $127.72. The firm has a market capitalization of $41.33 billion, a P/E ratio of 10.85, a PEG ratio of 2.26 and a beta of 0.84.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, topping analysts' consensus estimates of $3.52 by $0.56. The company 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 period in the prior year, the business posted $3.58 EPS. On average, equities analysts predict that Prudential Financial will post 14.35 EPS for the current fiscal year.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of Prudential Financial stock in a transaction on Tuesday, July 28th. The stock was 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 of the company's stock, valued at approximately $197,348,010.75. This trade represents a 2.62% 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 7,652 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the transaction, the executive vice president owned 14,407 shares in the company, valued at $1,801,019.07. This trade represents a 34.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.05% of the company's stock.

Institutional Trading of Prudential Financial

Institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its holdings in shares of Prudential Financial by 10,014.4% during the second quarter. California State Teachers Retirement System now owns 63,173,911 shares of the financial services provider's stock worth $6,818,360,000 after purchasing an additional 62,549,318 shares during the period. BlackRock Inc. acquired a new stake in Prudential Financial during the second quarter worth approximately $3,507,481,000. Bank of New York Mellon Corp bought a new position in Prudential Financial during the 2nd quarter worth $209,055,000. Bank of America Corp DE bought a new position in Prudential Financial during the 2nd quarter worth $208,957,000. Finally, Deutsche Bank AG acquired a new position in Prudential Financial in the 2nd quarter valued at $157,752,000. Institutional investors own 56.83% of the company's stock.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential's long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential's core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

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