Keefe, Bruyette & Woods Raises Prudential Financial (NYSE:PRU) Price Target to $118.00

Prudential Financial (NYSE:PRU - Get Free Report) had its price objective boosted by Keefe, Bruyette & Woods from $112.00 to $118.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 4.68% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Morgan Stanley upped their price target on Prudential Financial from $105.00 to $109.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 7th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $118.00 target price (down from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Raymond James lowered Prudential Financial from a "strong-buy" rating to a "market perform" rating in a research report on Friday, February 9th. Piper Sandler increased their price objective on Prudential Financial from $114.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, April 5th. Finally, TheStreet raised Prudential Financial from a "c+" rating to an "a-" rating in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $109.00.

Prudential Financial Stock Down 1.4 %

Prudential Financial stock traded down $1.58 during trading on Wednesday, hitting $112.72. 1,425,490 shares of the company were exchanged, compared to its average volume of 1,532,556. The business's 50 day moving average is $110.73 and its 200 day moving average is $102.42. Prudential Financial has a 52 week low of $77.22 and a 52 week high of $118.69. The company has a market capitalization of $40.47 billion, a P/E ratio of 16.85, a PEG ratio of 0.85 and a beta of 1.37. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.09). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The company had revenue of $13.02 billion for the quarter, compared to the consensus estimate of $12.99 billion. During the same quarter last year, the company posted $2.42 EPS. The company's quarterly revenue was up 6.7% compared to the same quarter last year. Analysts predict that Prudential Financial will post 13.39 earnings per share for the current year.

Insiders Place Their Bets

In other Prudential Financial news, EVP Andrew F. Sullivan sold 7,685 shares of the business's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the sale, the executive vice president now directly owns 13,691 shares of the company's stock, valued at $1,527,504.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Timothy L. Schmidt sold 7,912 shares of the company's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the sale, the senior vice president now owns 14,754 shares in the company, valued at $1,595,350.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew F. Sullivan sold 7,685 shares of the company's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total value of $857,415.45. Following the sale, the executive vice president now owns 13,691 shares of the company's stock, valued at approximately $1,527,504.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,255 shares of company stock valued at $3,215,664. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Prudential Financial

A number of hedge funds have recently bought and sold shares of the company. Cambridge Trust Co. grew its holdings in Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 105 shares during the period. Sanctuary Wealth Management L.L.C. bought a new stake in Prudential Financial during the fourth quarter valued at about $25,000. Bruce G. Allen Investments LLC bought a new stake in Prudential Financial during the fourth quarter valued at about $26,000. Headinvest LLC bought a new stake in Prudential Financial during the third quarter valued at about $27,000. Finally, Pacific Center for Financial Services bought a new stake in Prudential Financial during the first quarter valued at about $27,000. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.