Prudential Financial (NYSE:PRU) Price Target Raised to $113.00

Prudential Financial (NYSE:PRU - Get Free Report) had its price target hoisted by equities research analysts at Wells Fargo & Company from $108.00 to $113.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price objective points to a potential upside of 10.33% from the company's current price.

Several other equities analysts have also recently commented on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. Piper Sandler cut their price target on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a report on Friday. JPMorgan Chase & Co. dropped their price target on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley reduced their price target on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Finally, BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $122.15.

Prudential Financial Stock Down 1.2 %

NYSE PRU opened at $102.42 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a 50-day simple moving average of $105.70 and a 200 day simple moving average of $115.17. The stock has a market cap of $36.30 billion, a PE ratio of 13.73, a PEG ratio of 0.98 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 announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping analysts' consensus estimates of $3.18 by $0.11. The business had revenue of $13.61 billion during the quarter, compared to analysts' expectations of $14.76 billion. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The firm's quarterly revenue was down 38.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.12 earnings per share. On average, research analysts forecast that Prudential Financial will post 14.36 EPS for the current year.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the purchase, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Institutional Trading of Prudential Financial

A number of large investors have recently added to or reduced their stakes in PRU. Norges Bank bought a new stake in Prudential Financial during the fourth quarter worth approximately $115,878,000. Northern Trust Corp boosted its stake in shares of Prudential Financial by 23.7% during the 4th 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 period. GAMMA Investing LLC lifted its stake in Prudential Financial by 11,280.3% in the first quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock worth $96,923,000 after purchasing an additional 860,239 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Prudential Financial by 176.8% during the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider's stock valued at $123,804,000 after buying an additional 665,180 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Prudential Financial during the 4th quarter worth approximately $76,303,000. 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.

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