Prudential Financial (NYSE:PRU) Given New $119.00 Price Target at Barclays

Prudential Financial (NYSE:PRU - Free Report) had its target price lifted by Barclays from $109.00 to $119.00 in a research report sent to investors on Monday,Benzinga reports. Barclays currently has an equal weight rating on the financial services provider's stock.

A number of other research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods cut their price objective 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. Wall Street Zen downgraded shares of Prudential Financial from a "hold" rating to a "sell" rating in a report on Saturday. Piper Sandler cut their price target on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Morgan Stanley lifted their target price on shares of Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company lifted their target price on shares of Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Two research 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $121.15.

Prudential Financial Price Performance

Shares of NYSE:PRU traded down $2.60 during midday trading on Monday, reaching $106.48. 1,402,009 shares of the company's stock were exchanged, compared to its average volume of 1,659,935. The company's 50 day simple moving average is $104.93 and its two-hundred day simple moving average is $109.14. The firm has a market capitalization of $37.69 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. Prudential Financial has a 12 month low of $90.38 and a 12 month high of $130.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.17 and a current ratio of 0.17.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $13.61 billion during 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%. The company's revenue for the quarter was down 38.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.12 earnings per share. Equities research analysts expect that Prudential Financial will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.07%. The ex-dividend date was Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Insiders Place Their Bets

In other 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, for a total transaction of $48,000,009.92. Following the completion of the transaction, the insider directly owned 3,168,461 shares in the company, valued at $90,744,723.04. The trade was a 112.29% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Institutional Trading of Prudential Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its position in shares of Prudential Financial by 9.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock valued at $279,000 after acquiring an additional 222 shares during the last quarter. Bridgewater Associates LP increased its holdings in Prudential Financial by 41.8% in the fourth quarter. Bridgewater Associates LP now owns 388,349 shares of the financial services provider's stock valued at $46,031,000 after purchasing an additional 114,459 shares during the last quarter. Sound Income Strategies LLC increased its holdings in Prudential Financial by 9.0% in the first quarter. Sound Income Strategies LLC now owns 35,408 shares of the financial services provider's stock valued at $3,954,000 after purchasing an additional 2,913 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Prudential Financial by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 79,888 shares of the financial services provider's stock valued at $8,922,000 after purchasing an additional 2,623 shares during the last quarter. Finally, Verity & Verity LLC increased its stake in shares of Prudential Financial by 3.6% in the 1st quarter. Verity & Verity LLC now owns 189,321 shares of the financial services provider's stock valued at $21,143,000 after acquiring an additional 6,620 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Company Profile

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.