Prudential Financial (NYSE:PRU) Price Target Lowered to $113.00 at Morgan Stanley

Prudential Financial (NYSE:PRU - Get Free Report) had its price target dropped by equities research analysts at Morgan Stanley from $117.00 to $113.00 in a report issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's target price points to a potential upside of 10.44% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reduced their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of Prudential Financial from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. JPMorgan Chase & Co. boosted their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Piper Sandler cut their price objective on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, Barclays upped their price target on Prudential Financial from $109.00 to $119.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Prudential Financial currently has a consensus rating of "Hold" and a consensus price target of $121.62.

Prudential Financial Trading Up 0.1%

Shares of NYSE:PRU traded up $0.12 on Monday, hitting $102.32. The company had a trading volume of 493,832 shares, compared to its average volume of 1,660,116. Prudential Financial has a 1 year low of $90.38 and a 1 year high of $130.55. 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 firm's 50-day simple moving average is $105.33 and its two-hundred day simple moving average is $108.61. The firm has a market capitalization of $36.22 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 0.99 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS 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 analyst estimates of $14.76 billion. During the same period last year, the business posted $3.12 earnings per share. Prudential Financial's quarterly revenue was down 38.2% compared to the same quarter last year. Equities analysts anticipate that Prudential Financial will post 14.36 earnings per share for the current fiscal year.

Insider Transactions at Prudential Financial

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

Institutional Investors Weigh In On Prudential Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Prudential Financial in the 4th quarter worth $115,878,000. Northern Trust Corp boosted its position in Prudential Financial by 23.7% in the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock worth $555,513,000 after purchasing an additional 897,916 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Prudential Financial by 11,280.3% during the 1st quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock valued at $96,923,000 after purchasing an additional 860,239 shares during the period. Nuveen LLC purchased a new stake in shares of Prudential Financial during the 1st quarter valued at about $90,010,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Prudential Financial by 19.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock worth $469,777,000 after purchasing an additional 678,028 shares during the period. 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.