Analysts Set Prudential Financial, Inc. (NYSE:PRU) Price Target at $120.15

Prudential Financial, Inc. (NYSE:PRU - Get Free Report) has earned a consensus recommendation of "Hold" from the thirteen analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $120.15.

PRU has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Piper Sandler cut their price objective on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley lifted their target price on Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. UBS Group cut their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. Finally, Wells Fargo & Company increased their price target on Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of Prudential Financial stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the purchase, the insider now directly owns 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. increased its stake in Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 111 shares in the last quarter. Cheviot Value Management LLC purchased a new stake in shares of Prudential Financial in the 1st quarter worth about $26,000. North Capital Inc. acquired a new stake in Prudential Financial in the 1st quarter valued at about $28,000. AlphaQuest LLC increased its holdings in Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 245 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in Prudential Financial during the first quarter worth about $30,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Up 0.1%

NYSE:PRU traded up $0.15 during trading hours on Friday, reaching $107.28. 47,223 shares of the stock were exchanged, compared to its average volume of 1,647,898. Prudential Financial has a twelve month low of $90.38 and a twelve month high of $130.95. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average of $104.09 and a two-hundred day moving average of $109.54. The company has a market capitalization of $37.98 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.02 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.11. The company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. Prudential Financial's revenue was down 38.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.12 EPS. On average, equities analysts predict that Prudential Financial will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were given a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a yield of 5.03%. Prudential Financial's payout ratio is currently 85.58%.

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.