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Prudential Financial (NYSE:PRU) Price Target Raised to $101.00

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Key Points

  • Mizuho raised PRU's price target to $101 from $96 and maintained a "neutral" rating, but MarketBeat's consensus remains cautious with an average target of about $99.92 and most analysts rating the stock Hold/Reduce.
  • Q1 results beat estimates — $3.61 EPS vs $3.09 expected and $15.23B revenue vs $14.10B — supporting near-term earnings momentum, although a suspension of certain Japan sales reduced GAAP profit (~15.6%) and adds uncertainty.
  • Insiders made recent small purchases while institutional ownership is high (~56.8%), with major funds like State Street and Morgan Stanley increasing their stakes, signaling continued institutional interest.
  • MarketBeat previews the top five stocks to own by June 1st.

Prudential Financial (NYSE:PRU - Get Free Report) had its price target increased by analysts at Mizuho from $96.00 to $101.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Mizuho's price target would indicate a potential upside of 0.90% from the stock's current price.

A number of other research firms have also weighed in on PRU. Bank of America cut their price objective on shares of Prudential Financial from $112.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. Evercore reaffirmed a "negative" rating on shares of Prudential Financial in a research note on Friday, March 6th. Keefe, Bruyette & Woods reduced their price target on Prudential Financial from $104.00 to $100.00 and set a "market perform" rating on the stock in a research note on Thursday, April 23rd. Weiss Ratings cut Prudential Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, March 13th. Finally, UBS Group lowered their price objective on Prudential Financial from $105.00 to $98.00 and set a "neutral" rating for the company in a research report on Thursday, April 9th. Nine investment analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $99.92.

Read Our Latest Stock Report on PRU

Prudential Financial Stock Down 0.2%

PRU opened at $100.10 on Thursday. The firm has a market cap of $34.82 billion, a P/E ratio of 10.30, a PEG ratio of 1.82 and a beta of 0.86. The business's fifty day simple moving average is $96.89 and its 200 day simple moving average is $104.58. 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 announced its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.36%. The firm had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $14.10 billion. During the same quarter in the previous year, the company posted $3.29 EPS. As a group, equities research analysts anticipate that Prudential Financial will post 13.66 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Thomas D. Stoddard purchased 250 shares of the company's stock in a transaction on Tuesday, February 17th. The stock was bought at an average cost of $102.97 per share, for a total transaction of $25,742.50. Following the completion of the purchase, the director directly owned 250 shares of the company's stock, valued at $25,742.50. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph J. Wolk acquired 400 shares of the business's stock in a transaction dated Wednesday, February 11th. The stock was purchased at an average price 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 approximately $42,128. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 1,650 shares of company stock valued at $168,841. 0.05% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. State Street Corp increased its position in shares of Prudential Financial by 1.2% in the fourth quarter. State Street Corp now owns 17,234,061 shares of the financial services provider's stock worth $1,945,381,000 after acquiring an additional 210,959 shares in the last quarter. Geode Capital Management LLC boosted its position in Prudential Financial by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 9,533,806 shares of the financial services provider's stock worth $1,078,904,000 after purchasing an additional 26,414 shares during the period. Morgan Stanley increased its holdings in Prudential Financial by 6.7% in the 4th quarter. Morgan Stanley now owns 6,649,202 shares of the financial services provider's stock valued at $750,562,000 after purchasing an additional 420,081 shares in the last quarter. Legal & General Group Plc raised its position in Prudential Financial by 2.4% in the third quarter. Legal & General Group Plc now owns 2,701,116 shares of the financial services provider's stock valued at $280,214,000 after purchasing an additional 62,366 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Prudential Financial by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,428,696 shares of the financial services provider's stock worth $274,151,000 after purchasing an additional 15,865 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Trending Headlines about Prudential Financial

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About Prudential Financial

(Get Free Report)

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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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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.

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