Prudential Financial (NYSE:PRU) Receives "Hold (C)" Rating from Weiss Ratings

Key Points

• Prudential Financial received a "hold (C)" rating from Weiss Ratings, indicating a cautious outlook for investors.
• Research analysts have mixed views, with one maintaining a Buy rating, eleven issuing Hold ratings, and one giving a Sell rating, resulting in a consensus target price of $121.92.
• Prudential's recent earnings report revealed an EPS of $3.58, which exceeded analysts' expectations, despite a 2.5% decline in quarterly revenue year-over-year.

Prudential Financial (NYSE:PRU - Get Free Report)'s stock had its "hold (c)" rating restated by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently commented on the company. Piper Sandler cut their target price on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 16th. Wall Street Zen raised Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Barclays increased their price objective on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. increased their price objective on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Finally, Wolfe Research initiated coverage on Prudential Financial in a research note on Tuesday, September 16th. They issued a "peer perform" rating on the stock. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Prudential Financial has a consensus rating of "Hold" and a consensus price target of $121.92.

Prudential Financial Trading Down 0.8%

Shares of PRU stock opened at $102.90 on Wednesday. Prudential Financial has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The stock's 50 day simple moving average is $105.20 and its two-hundred day simple moving average is $104.72. The company has a market cap of $36.22 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 0.92 and a beta of 1.04.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $0.36. The firm had revenue of $13.50 billion for the quarter, compared to analysts' expectations of $13.47 billion. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The company's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.39 earnings per share. Research analysts predict that Prudential Financial will post 14.36 earnings per share for the current year.

Insider Activity at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company's stock.

Hedge Funds Weigh In On Prudential Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Proffitt & Goodson Inc. raised its stake in Prudential Financial by 12.7% in the 2nd quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider's stock worth $94,000 after acquiring an additional 98 shares during the last quarter. SPC Financial Inc. raised its stake in Prudential Financial by 2.6% in the 1st quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider's stock worth $444,000 after acquiring an additional 100 shares during the last quarter. Summit Global Investments raised its stake in Prudential Financial by 1.3% in the 2nd quarter. Summit Global Investments now owns 7,609 shares of the financial services provider's stock worth $817,000 after acquiring an additional 100 shares during the last quarter. NorthCrest Asset Manangement LLC raised its stake in Prudential Financial by 3.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider's stock worth $306,000 after acquiring an additional 101 shares during the last quarter. Finally, Thrive Wealth Management LLC grew its position in Prudential Financial by 2.6% during the 2nd quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider's stock worth $430,000 after purchasing an additional 101 shares during the period. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.