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

Key Points

• Wells Fargo raised its price target on Prudential Financial to $100 from $93, while keeping an underweight rating on the stock.
• Other analysts remain cautious: several firms trimmed targets, and the overall consensus rating is “Reduce” with an average price target of $101.
• Prudential reported better-than-expected Q1 results, with EPS of $3.61 versus $3.09 expected and revenue of $15.23 billion versus $14.10 billion expected.

Prudential Financial (NYSE:PRU - Get Free Report) had its target price upped by analysts at Wells Fargo & Company from $93.00 to $100.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "underweight" rating on the financial services provider's stock. Wells Fargo & Company's target price indicates a potential downside of 0.14% from the company's current price.

Several other equities analysts have also weighed in on PRU. BMO Capital Markets reduced their target price on shares of Prudential Financial from $91.00 to $87.00 and set an "underperform" rating on the stock in a report on Thursday, April 23rd. UBS Group cut their price objective on Prudential Financial from $105.00 to $98.00 and set a "neutral" rating on the stock in a research report on Thursday, April 9th. JPMorgan Chase & Co. decreased their target price on Prudential Financial from $133.00 to $127.00 and set a "neutral" rating for the company in a research report on Wednesday, February 4th. Barclays boosted their price target on Prudential Financial from $89.00 to $90.00 and gave the stock an "underweight" rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley restated an "underweight" rating and issued a $92.00 target price (down from $106.00) on shares of Prudential Financial in a research note on Monday, May 4th. Nine investment analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company's stock. According to MarketBeat.com, Prudential Financial has an average rating of "Reduce" and an average target price of $101.00.

Prudential Financial Stock Performance

Prudential Financial stock opened at $100.14 on Tuesday. The company has a market cap of $34.75 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 1.83 and a beta of 0.86. Prudential Financial has a 12 month low of $91.89 and a 12 month high of $119.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The stock's 50-day moving average is $96.85 and its 200-day moving average is $104.56.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.09 by $0.52. The business had revenue of $15.23 billion during the quarter, compared to analysts' expectations of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the previous year, the business earned $3.29 EPS. Equities analysts anticipate that Prudential Financial will post 13.66 earnings per share for the current year.

Insider Activity at Prudential Financial

In other news, Director Thomas D. Stoddard bought 250 shares of Prudential Financial stock in a transaction on Tuesday, February 17th. The shares were bought at an average price of $102.97 per share, with a total value of $25,742.50. Following the acquisition, the director directly owned 250 shares in the company, valued at approximately $25,742.50. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph J. Wolk purchased 400 shares of the stock in a transaction dated Wednesday, February 11th. The stock was purchased at an average price of $105.32 per share, with a total value of $42,128.00. Following the completion of the acquisition, the director directly owned 400 shares in the company, valued at approximately $42,128. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.05% of the company's stock.

Institutional Investors Weigh In On Prudential Financial

Institutional investors have recently modified their holdings of the business. Summit Global Investments boosted its stake in Prudential Financial by 71.1% during the 3rd quarter. Summit Global Investments now owns 13,021 shares of the financial services provider's stock valued at $1,351,000 after purchasing an additional 5,412 shares during the period. VCI Wealth Management LLC raised its holdings in shares of Prudential Financial by 117.1% during the fourth quarter. VCI Wealth Management LLC now owns 19,292 shares of the financial services provider's stock valued at $2,178,000 after buying an additional 10,404 shares during the last quarter. KBC Group NV boosted its position in shares of Prudential Financial by 94.3% during the fourth quarter. KBC Group NV now owns 157,538 shares of the financial services provider's stock worth $17,783,000 after buying an additional 76,461 shares during the period. Machina Capital S.A.S. acquired a new position in shares of Prudential Financial during the third quarter worth approximately $1,285,000. Finally, Varma Mutual Pension Insurance Co raised its stake in Prudential Financial by 22.0% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 108,839 shares of the financial services provider's stock valued at $11,291,000 after acquiring an additional 19,600 shares in the last quarter. Institutional investors own 56.83% of the company's stock.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential's long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential's core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

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