Prudential Financial (NYSE:PRU) Price Target Cut to $108.00 by Analysts at Piper Sandler

Prudential Financial (NYSE:PRU - Get Free Report) had its target price lowered by equities researchers at Piper Sandler from $109.00 to $108.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price target suggests a potential upside of 4.54% from the stock's current price.

Several other brokerages have also recently commented on PRU. Barclays boosted their target price on shares of Prudential Financial from $109.00 to $119.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Wall Street Zen cut shares of Prudential Financial from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $113.00 to $116.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Morgan Stanley dropped their target price on shares of Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prudential Financial has a consensus rating of "Hold" and a consensus target price of $121.62.

Prudential Financial Stock Performance

Shares of NYSE PRU traded up $0.18 during mid-day trading on Wednesday, reaching $103.31. 1,314,951 shares of the company were exchanged, compared to its average volume of 1,663,266. The company's 50-day simple moving average is $105.31 and its 200-day simple moving average is $108.40. 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 stock has a market capitalization of $36.57 billion, a P/E ratio of 16.37, a P/E/G ratio of 1.02 and a beta of 1.07. Prudential Financial has a twelve month low of $90.38 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The business had revenue of $13.61 billion during the quarter, compared to analysts' expectations of $14.76 billion. During the same quarter in the previous year, the company earned $3.12 EPS. The business's revenue was down 38.2% on a year-over-year basis. As a group, research analysts predict that Prudential Financial will post 14.36 earnings per share for the current year.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of Prudential Financial stock in a transaction dated Monday, June 16th. The shares were bought at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the purchase, the insider owned 3,168,461 shares in the company, valued at $90,744,723.04. This trade represents a 112.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Prudential Financial by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider's stock worth $4,960,547,000 after buying an additional 220,671 shares during the last quarter. Geode Capital Management LLC raised its holdings in Prudential Financial by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider's stock worth $1,050,635,000 after buying an additional 193,681 shares during the last quarter. Northern Trust Corp raised its holdings in Prudential Financial by 23.7% during the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock worth $555,513,000 after buying an additional 897,916 shares during the last quarter. Invesco Ltd. raised its holdings in Prudential Financial by 2.7% during the first quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider's stock worth $495,859,000 after buying an additional 116,079 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Prudential Financial by 19.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock worth $469,777,000 after buying an additional 678,028 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

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.