Prudential Financial (NYSE:PRU) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded Prudential Financial to “Buy” from “Hold,” although the broader analyst consensus remains “Reduce,” with an average price target of $109.31.
• Prudential reported quarterly EPS of $4.08, beating estimates of $3.52, while revenue of $14.15 billion fell slightly short of forecasts.
• The stock opened at $118.44, near its 12-month high of $127.72; institutional investors own 56.83% of shares, while recent insider transactions included sales by a major shareholder and an executive.

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

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. raised their price objective on Prudential Financial from $129.00 to $131.00 and gave the stock a "neutral" rating in a research report on Monday, August 17th. Wells Fargo & Company upped their target price on Prudential Financial from $103.00 to $110.00 and gave the company an "underweight" rating in a report on Wednesday, August 19th. TD Cowen increased their price target on shares of Prudential Financial from $102.00 to $114.00 and gave the stock a "hold" rating in a research report on Wednesday, July 22nd. Argus cut shares of Prudential Financial from a "buy" rating to a "hold" rating in a report on Tuesday, June 9th. Finally, Weiss Ratings raised shares of Prudential Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $109.31.

Prudential Financial Trading Up 0.4%

NYSE:PRU opened at $118.44 on Friday. The business has a 50 day simple moving average of $120.42 and a 200 day simple moving average of $108.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial has a 12-month low of $91.89 and a 12-month high of $127.72. The firm has a market capitalization of $40.86 billion, a P/E ratio of 10.73, a P/E/G ratio of 1.77 and a beta of 0.83.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.36 billion. During the same quarter in the prior year, the company earned $3.58 earnings per share. Equities research analysts predict that Prudential Financial will post 14.57 EPS for the current year.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total value of $5,314,963.50. Following the transaction, 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. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ann M. Kappler sold 7,652 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the transaction, the executive vice president directly owned 14,407 shares in the company, valued at approximately $1,801,019.07. The trade was a 34.69% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Archer Investment Corp bought a new stake in Prudential Financial in the second quarter worth $26,000. Basepoint Wealth LLC acquired a new stake in shares of Prudential Financial in the fourth quarter worth about $30,000. SJS Investment Consulting Inc. lifted its position in shares of Prudential Financial by 93.1% in the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider's stock worth $27,000 after buying an additional 134 shares during the last quarter. Union Savings Bank bought a new stake in shares of Prudential Financial during the 4th quarter worth about $35,000. Finally, Reflection Asset Management acquired a new position in shares of Prudential Financial during the 4th quarter valued at about $39,000. Institutional investors own 56.83% of the company's stock.

About Prudential Financial

Prudential Financial, Inc is a global financial services company headquartered in Newark, New Jersey. Founded in 1875 as The Widows and Orphans Friendly Society, the company has grown from a life insurance provider into a diversified business offering insurance, retirement, investment management and related financial services.

Through its U.S. businesses, Prudential provides individual life insurance and annuities, workplace retirement plans, pension risk transfer solutions, group life and disability insurance, and other benefits and financial wellness products.

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