Wall Street Zen Upgrades Prudential Financial (NYSE:PRU) to Hold

Prudential Financial (NYSE:PRU - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Other equities analysts also recently issued research reports about the company. Barclays decreased their target price on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Piper Sandler decreased their price objective on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Morgan Stanley lifted their target price on Prudential Financial from $108.00 to $117.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods decreased their price target on shares of 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $120.15.

Prudential Financial Stock Up 0.4%

Prudential Financial stock traded up $0.46 during mid-day trading on Friday, reaching $104.88. The company's stock had a trading volume of 286,642 shares, compared to its average volume of 1,850,197. Prudential Financial has a 12 month low of $90.38 and a 12 month high of $130.55. The company has a market capitalization of $37.13 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. 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 business's 50 day simple moving average is $103.04 and its 200 day simple moving average is $112.30.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.18 by $0.11. The company 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 business's revenue was down 38.2% on a year-over-year basis. During the same period last year, the firm posted $3.12 earnings per share. As a group, research analysts anticipate that Prudential Financial will post 14.36 earnings per share for the current year.

Insider Activity

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares of the company's stock, valued at $2,869,090.56. This represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the transaction, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Prudential Financial

Several large investors have recently modified their holdings of PRU. Brighton Jones LLC lifted its holdings in Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock worth $436,000 after buying an additional 133 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Prudential Financial by 9.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,279 shares of the financial services provider's stock worth $270,000 after acquiring an additional 195 shares during the period. Perigon Wealth Management LLC boosted its holdings in Prudential Financial by 4.8% in the fourth quarter. Perigon Wealth Management LLC now owns 5,455 shares of the financial services provider's stock valued at $646,000 after acquiring an additional 249 shares during the last quarter. Strategic Blueprint LLC increased its position in Prudential Financial by 57.8% during the 4th quarter. Strategic Blueprint LLC now owns 3,075 shares of the financial services provider's stock valued at $364,000 after purchasing an additional 1,126 shares during the period. Finally, OLD National Bancorp IN lifted its position in shares of Prudential Financial by 17.1% in the 4th quarter. OLD National Bancorp IN now owns 6,840 shares of the financial services provider's stock worth $811,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 56.83% of the company's stock.

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.