Prudential Financial (NYSE:PRU) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Prudential Financial to “hold” from “buy.” Broader analyst sentiment is cautious, with an average “Reduce” rating and a consensus price target of $105.46.
• Prudential reported quarterly EPS of $4.08, beating the $3.52 consensus estimate, while revenue of $14.15 billion fell short of expectations.
• PRU shares opened at $121.34, near their 52-week high of $127.72. Institutional investors own 56.83% of the stock, while a major shareholder recently sold approximately $5.3 million in shares.

Prudential Financial (NYSE:PRU - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

PRU has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price objective on shares of Prudential Financial from $117.00 to $129.00 and gave the stock a "neutral" rating in a report on Tuesday, July 21st. Weiss Ratings raised shares of Prudential Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Piper Sandler boosted their price target on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, June 24th. TD Cowen upped their price objective on shares of Prudential Financial from $102.00 to $114.00 and gave the stock a "hold" rating in a research report on Wednesday, July 22nd. Finally, Barclays lifted their target price on shares of Prudential Financial from $90.00 to $92.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Prudential Financial currently has an average rating of "Reduce" and an average price target of $105.46.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $121.34 on Friday. The company has a market cap of $42.10 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 2.35 and a beta of 0.84. Prudential Financial has a 52 week low of $91.89 and a 52 week high of $127.72. The business has a 50 day moving average price of $112.86 and a 200-day moving average price of $104.74. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.56. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same quarter in the previous year, the firm earned $3.58 earnings per share. Equities analysts anticipate that Prudential Financial will post 13.92 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the company's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the transaction, the insider owned 7,973,657 shares of the company's stock, valued at $197,348,010.75. This represents a 2.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Prudential Financial

Several institutional investors have recently added to or reduced their stakes in the business. VCI Wealth Management LLC lifted its position in Prudential Financial by 117.1% in the fourth quarter. VCI Wealth Management LLC now owns 19,292 shares of the financial services provider's stock valued at $2,178,000 after purchasing an additional 10,404 shares during the last quarter. KBC Group NV grew its holdings in shares of Prudential Financial by 94.3% in the fourth quarter. KBC Group NV now owns 157,538 shares of the financial services provider's stock worth $17,783,000 after purchasing an additional 76,461 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich increased its stake in shares of Prudential Financial by 2,669.0% in the fourth quarter. Munich Reinsurance Co Stock Corp in Munich now owns 46,990 shares of the financial services provider's stock worth $5,342,000 after buying an additional 45,293 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Prudential Financial by 9.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 171,486 shares of the financial services provider's stock valued at $19,357,000 after buying an additional 14,327 shares during the last quarter. Finally, Oxbow Advisors LLC purchased a new stake in Prudential Financial during the 4th quarter valued at $6,545,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential's long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential's core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

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