Prudential Financial (NYSE:PRU) Price Target Lowered to $101.00 at Mizuho

Key Points

• Mizuho cut its price target on Prudential Financial (PRU) from $113 to $101 and maintained a "neutral" rating, implying roughly a 3.25% upside from the prior close.
• Multiple other brokers have trimmed targets and ratings (JPMorgan, Barclays, Morgan Stanley, Wells Fargo, Weiss), leaving PRU with a consensus Reduce rating and an average target of $108.44 (nine Holds, two Sells).
• PRU shares traded at $97.83 following a quarterly EPS of $3.30 that missed estimates by $0.07; insiders have made notable purchases and institutional investors own about 56.8% of the stock.

Prudential Financial (NYSE:PRU - Get Free Report) had its price objective dropped by investment analysts at Mizuho from $113.00 to $101.00 in a report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. Mizuho's price target points to a potential upside of 3.25% from the stock's previous close.

Several other brokerages have also commented on PRU. JPMorgan Chase & Co. cut their price objective on Prudential Financial from $133.00 to $127.00 and set a "neutral" rating for the company in a report on Wednesday, February 4th. Weiss Ratings lowered Prudential Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, March 13th. Barclays dropped their price objective on Prudential Financial from $119.00 to $110.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 8th. Morgan Stanley dropped their price objective on Prudential Financial from $120.00 to $111.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 3rd. Finally, Wells Fargo & Company dropped their price objective on Prudential Financial from $103.00 to $95.00 and set an "underweight" rating for the company in a research note on Friday. Nine investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $108.44.

Prudential Financial Stock Up 1.0%

Shares of Prudential Financial stock traded up $0.93 on Monday, reaching $97.83. The company's stock had a trading volume of 752,389 shares, compared to its average volume of 2,297,514. The company has a market capitalization of $34.03 billion, a price-to-earnings ratio of 9.76, a P/E/G ratio of 1.20 and a beta of 0.95. The firm's fifty day simple moving average is $98.77 and its two-hundred day simple moving average is $105.10. Prudential Financial has a 52 week low of $91.89 and a 52 week high of $119.76. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing analysts' consensus estimates of $3.37 by ($0.07). The business had revenue of $14.52 billion during the quarter, compared to the consensus estimate of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same period in the previous year, the business posted $2.96 EPS. Equities analysts anticipate that Prudential Financial will post 14.36 earnings per share for the current year.

Insiders Place Their Bets

In other Prudential Financial news, Director Joseph J. Wolk purchased 400 shares of Prudential Financial stock in a transaction dated Wednesday, February 11th. The shares were purchased at an average cost of $105.32 per share, for a total transaction of $42,128.00. Following the completion of the acquisition, the director owned 400 shares in the company, valued at $42,128. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jacques Chappuis purchased 1,000 shares of Prudential Financial stock in a transaction dated Friday, February 6th. The stock was acquired at an average price of $100.97 per share, for a total transaction of $100,970.00. Following the completion of the acquisition, the executive vice president owned 1,000 shares of the company's stock, valued at approximately $100,970. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 1,408,389 shares of company stock valued at $35,154,439. Corporate insiders own 0.05% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Global Investments boosted its position in Prudential Financial by 71.1% during the 3rd quarter. Summit Global Investments now owns 13,021 shares of the financial services provider's stock valued at $1,351,000 after acquiring an additional 5,412 shares in the last quarter. Machina Capital S.A.S. bought a new stake in Prudential Financial during the 3rd quarter valued at $1,285,000. Mattson Financial Services LLC boosted its position in Prudential Financial by 312.8% during the 3rd quarter. Mattson Financial Services LLC now owns 12,119 shares of the financial services provider's stock valued at $1,257,000 after acquiring an additional 9,183 shares in the last quarter. First Horizon Corp bought a new stake in Prudential Financial during the 3rd quarter valued at $5,856,000. Finally, Varma Mutual Pension Insurance Co boosted its position in Prudential Financial by 22.0% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 108,839 shares of the financial services provider's stock valued at $11,291,000 after acquiring an additional 19,600 shares in the last quarter. Institutional investors own 56.83% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.