Prudential Financial (NYSE:PRU) Given New $106.00 Price Target at Wells Fargo & Company

Prudential Financial (NYSE:PRU - Get Free Report) had its target price upped by Wells Fargo & Company from $100.00 to $106.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an "underweight" rating on the financial services provider's stock. Wells Fargo & Company's price target indicates a potential downside of 4.75% from the company's current price.

A number of other research firms have also weighed in on PRU. Keefe, Bruyette & Woods lifted their target price on Prudential Financial from $112.00 to $118.00 and gave the company a "market perform" rating in a report on Wednesday. Piper Sandler lifted their target price on Prudential Financial from $114.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, April 5th. TheStreet raised Prudential Financial from a "c+" rating to an "a-" rating in a report on Tuesday, February 6th. Morgan Stanley lifted their target price on Prudential Financial from $105.00 to $109.00 and gave the company an "equal weight" rating in a report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $118.00 price target (down previously from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $110.67.

Prudential Financial Stock Performance

PRU traded down $1.43 during trading hours on Thursday, hitting $111.29. The stock had a trading volume of 1,728,743 shares, compared to its average volume of 1,535,606. The company's fifty day simple moving average is $110.73 and its 200 day simple moving average is $102.42. Prudential Financial has a 1 year low of $77.22 and a 1 year high of $118.69. The stock has a market cap of $39.95 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 0.85 and a beta of 1.37. The company has a quick ratio of 0.13, a current 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 data on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share 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 firm had revenue of $13.02 billion during the quarter, compared to analysts' expectations of $12.99 billion. During the same period last year, the business posted $2.42 EPS. The company's revenue was up 6.7% compared to the same quarter last year. Equities analysts anticipate that Prudential Financial will post 13.39 earnings per share for the current year.

Insider Buying and Selling

In other Prudential Financial news, EVP Andrew F. Sullivan sold 7,685 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 13,691 shares in the company, valued at $1,527,504.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Timothy L. Schmidt sold 7,912 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 14,754 shares of the company's stock, valued at $1,595,350.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew F. Sullivan sold 7,685 shares of the company'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 completion of the sale, the executive vice president now directly owns 13,691 shares in the company, valued at $1,527,504.87. The disclosure for this sale can be found here. Insiders sold 29,255 shares of company stock worth $3,215,664 in the last quarter. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Prudential Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Prudential Financial by 13.9% in the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider's stock worth $4,386,192,000 after purchasing an additional 5,154,865 shares during the period. Geode Capital Management LLC increased its holdings in shares of Prudential Financial by 1.5% during the first quarter. Geode Capital Management LLC now owns 7,613,784 shares of the financial services provider's stock valued at $628,529,000 after acquiring an additional 111,170 shares in the last quarter. Morgan Stanley increased its holdings in shares of Prudential Financial by 6.7% during the fourth quarter. Morgan Stanley now owns 6,589,363 shares of the financial services provider's stock valued at $655,378,000 after acquiring an additional 413,421 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Prudential Financial by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,353,887 shares of the financial services provider's stock valued at $750,839,000 after acquiring an additional 356,957 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Prudential Financial by 4.8% during the third quarter. Northern Trust Corp now owns 4,353,086 shares of the financial services provider's stock valued at $413,064,000 after acquiring an additional 197,422 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

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.