JPMorgan Chase & Co. Boosts Prudential Financial (NYSE:PRU) Price Target to $131.00

Key Points

• JPMorgan raised Prudential Financial’s price target from $129 to $131 while maintaining a “neutral” rating, implying about 4.47% upside from the stock’s reported $125.39 price.
• Analyst sentiment remains cautious: Prudential has a consensus “Reduce” rating, with one Buy, eleven Hold and five Sell ratings; the average target price is $107.77.
• Prudential reported quarterly EPS of $4.08, exceeding the $3.52 consensus estimate, while revenue reached $14.15 billion versus the $14.36 billion estimate.

Prudential Financial (NYSE:PRU - Get Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $129.00 to $131.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 4.47% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods boosted their target price on shares of Prudential Financial from $113.00 to $123.00 and gave the company a "market perform" rating in a research note on Tuesday, August 11th. Barclays lifted their price objective on shares of Prudential Financial from $90.00 to $92.00 and gave the company an "underweight" rating in a report on Tuesday, July 7th. BMO Capital Markets decreased their price objective on shares of Prudential Financial from $91.00 to $87.00 and set an "underperform" rating for the company in a research report on Thursday, April 23rd. Piper Sandler increased their target price on shares of Prudential Financial from $110.00 to $128.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Finally, Mizuho raised their target price on Prudential Financial from $101.00 to $109.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, Prudential Financial has a consensus rating of "Reduce" and an average target price of $107.77.

Prudential Financial Stock Performance

PRU stock traded up $0.26 during trading on Monday, hitting $125.39. 193,180 shares of the company traded hands, compared to its average volume of 2,133,170. Prudential Financial has a 1 year low of $91.89 and a 1 year high of $127.72. The company has a market cap of $43.26 billion, a PE ratio of 11.36, a P/E/G ratio of 2.38 and a beta of 0.84. The stock's 50-day simple moving average is $114.94 and its 200 day simple moving average is $105.21. 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 (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.52 by $0.56. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same quarter in the prior year, the firm posted $3.58 EPS. On average, equities analysts expect that Prudential Financial will post 14.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of Prudential Financial stock in a transaction on 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 sale, the insider owned 7,973,657 shares of the company's stock, valued at $197,348,010.75. The trade was a 2.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.05% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PRU. Bank of America Corp DE acquired a new position in shares of Prudential Financial during the 2nd quarter worth approximately $208,957,000. Caisse de depot et placement du Quebec increased its holdings in shares of Prudential Financial by 1,014.7% in the second quarter. Caisse de depot et placement du Quebec now owns 160,131 shares of the financial services provider's stock valued at $17,283,000 after purchasing an additional 145,766 shares during the last quarter. Jupiter Topco LLC purchased a new position in Prudential Financial during the second quarter worth approximately $5,212,000. EFG International AG boosted its stake in Prudential Financial by 452.2% during the second quarter. EFG International AG now owns 381 shares of the financial services provider's stock worth $41,000 after buying an additional 312 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Prudential Financial by 417.3% during the second quarter. Canada Pension Plan Investment Board now owns 530,236 shares of the financial services provider's stock worth $57,228,000 after buying an additional 427,732 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

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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