Piper Sandler Trims Prudential Financial (NYSE:PRU) Target Price to $121.00

Prudential Financial (NYSE:PRU - Get Free Report) had its target price decreased by equities researchers at Piper Sandler from $125.00 to $121.00 in a report released on Monday, Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price target would indicate a potential upside of 4.98% from the company's previous close.

Other analysts also recently issued reports about the company. Evercore ISI upped their price objective on Prudential Financial from $115.00 to $116.00 and gave the company an "underperform" rating in a research report on Thursday, April 25th. Raymond James lowered shares of Prudential Financial from a "strong-buy" rating to a "market perform" rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods increased their price target on Prudential Financial from $112.00 to $118.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 10th. TheStreet raised Prudential Financial from a "c+" rating to an "a-" rating in a research report on Tuesday, February 6th. Finally, Wells Fargo & Company raised their price target on Prudential Financial from $100.00 to $106.00 and gave the stock an "underweight" rating in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to MarketBeat, Prudential Financial currently has an average rating of "Hold" and a consensus target price of $111.08.

Prudential Financial Price Performance

Shares of Prudential Financial stock traded up $3.00 during trading on Monday, reaching $115.26. The company's stock had a trading volume of 1,624,405 shares, compared to its average volume of 1,524,688. Prudential Financial has a 12-month low of $77.87 and a 12-month high of $118.69. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The business has a 50 day moving average price of $112.31 and a 200-day moving average price of $104.60. The company has a market capitalization of $41.38 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 0.83 and a beta of 1.35.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The business had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. During the same quarter in the previous year, the firm posted $2.66 EPS. The business's revenue was up 69.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Prudential Financial will post 13.36 EPS for the current year.

Insider Activity

In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of Prudential Financial stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the sale, the executive vice president now directly owns 24,381 shares in the company, valued at approximately $2,642,656.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Ann M. Kappler sold 7,222 shares of Prudential Financial stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the sale, the executive vice president now owns 24,381 shares in the company, valued at $2,642,656.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Robert Axel sold 6,436 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the transaction, the senior vice president now owns 7,901 shares in the company, valued at $883,805.86. The disclosure for this sale can be found here. Insiders sold 29,255 shares of company stock worth $3,215,664 over the last ninety days. Corporate insiders own 0.31% of the company's stock.

Institutional Trading of Prudential Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Prudential Financial by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider's stock valued at $4,386,192,000 after buying an additional 5,154,865 shares during the period. Morgan Stanley lifted its holdings in Prudential Financial by 0.9% in the third quarter. Morgan Stanley now owns 6,317,338 shares of the financial services provider's stock worth $599,452,000 after acquiring an additional 57,531 shares during the last quarter. Northern Trust Corp grew 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 purchasing an additional 197,422 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Prudential Financial by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider's stock worth $414,926,000 after purchasing an additional 388,363 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Prudential Financial by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,346,612 shares of the financial services provider's stock valued at $243,367,000 after buying an additional 72,696 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

About Prudential Financial

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.