Prudential Financial (NYSE:PRU) Given New $110.00 Price Target at Piper Sandler

Prudential Financial (NYSE:PRU - Get Free Report) had its price objective dropped by equities research analysts at Piper Sandler from $122.00 to $110.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price objective suggests a potential upside of 10.67% from the company's current price.

Several other research firms have also recently issued reports on PRU. Wells Fargo & Company cut their target price on Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective for the company. UBS Group dropped their target price on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their price objective on shares of Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $121.85.

Prudential Financial Price Performance

Shares of NYSE:PRU traded up $0.77 during midday trading on Tuesday, hitting $99.39. The company had a trading volume of 1,480,033 shares, compared to its average volume of 1,601,710. Prudential Financial has a twelve month low of $90.38 and a twelve month high of $130.55. The stock has a market cap of $35.23 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. The business's 50-day simple moving average is $107.69 and its 200-day simple moving average is $116.87. The company has a debt-to-equity ratio of 0.68, 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, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, research analysts predict that Prudential Financial will post 14.36 earnings per share for the current year.

Insider Transactions at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the transaction, the insider now directly owns 87,047 shares of the company's stock, valued at $2,499,989.84. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On Prudential Financial

Institutional investors have recently modified their holdings of the company. Grove Bank & Trust boosted its position in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Prudential Financial during the 4th quarter valued at about $29,000. Opal Wealth Advisors LLC acquired a new position in Prudential Financial during the first quarter worth about $30,000. CGC Financial Services LLC lifted its holdings in shares of Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 124 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Prudential Financial in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 56.83% of the company's stock.

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.