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Prudential Financial (NYSE:PRU) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

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Prudential Financial (NYSE:PRU - Free Report) had its price target hoisted by Wells Fargo & Company from $113.00 to $116.00 in a report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider's stock.

Several other analysts also recently commented on PRU. UBS Group cut their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Keefe, Bruyette & Woods cut their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price target on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a report on Tuesday. Piper Sandler dropped their price target on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, Barclays upped their price objective on Prudential Financial from $109.00 to $119.00 and gave the stock an "equal weight" rating in a report on Monday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prudential Financial currently has a consensus rating of "Hold" and a consensus price target of $122.15.

View Our Latest Stock Analysis on PRU

Prudential Financial Price Performance

PRU stock traded up $0.52 during mid-day trading on Thursday, reaching $107.12. 1,262,769 shares of the company traded hands, compared to its average volume of 1,663,007. Prudential Financial has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a market capitalization of $37.92 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.02 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17. The company has a fifty day moving average price of $105.08 and a 200-day moving average price of $109.11.

Prudential Financial (NYSE:PRU - Get Free Report) last posted 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. The company had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. Prudential Financial's revenue for the quarter was down 38.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.12 earnings per share. As a group, analysts anticipate that Prudential Financial will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date was Tuesday, May 20th. Prudential Financial's payout ratio is currently 85.58%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the company's stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the transaction, the insider owned 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Prudential Financial during the fourth quarter valued at about $115,878,000. Northern Trust Corp increased its position 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. GAMMA Investing LLC raised its stake in shares of Prudential Financial by 11,280.3% in the 1st quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock valued at $96,923,000 after acquiring an additional 860,239 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Prudential Financial in the first quarter worth $90,010,000. Finally, Goldman Sachs Group Inc. boosted 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 valued at $469,777,000 after acquiring an additional 678,028 shares during the period. Institutional investors own 56.83% of the company's stock.

Prudential Financial Company Profile

(Get Free Report)

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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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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