Prudential Financial (NYSE:PRU) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded Prudential Financial from “hold” to “buy,” marking a more positive stance on the stock.
• Despite the upgrade, the broader analyst view remains cautious: MarketBeat shows a consensus rating of “Reduce” with an average price target of $104.58.
• Prudential reported better-than-expected quarterly results, posting 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) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Other research analysts also recently issued research reports about the stock. Bank of America lowered their price objective on shares of Prudential Financial from $112.00 to $104.00 and set a "neutral" rating on the stock in a report on Tuesday, April 14th. Zacks Research upgraded shares of Prudential Financial from a "strong sell" rating to a "hold" rating in a report on Friday, June 12th. Wells Fargo & Company upped their target price on shares of Prudential Financial from $100.00 to $103.00 and gave the stock an "underweight" rating in a report on Thursday, July 9th. Argus cut shares of Prudential Financial from a "buy" rating to a "hold" rating in a research report on Tuesday, June 9th. Finally, Jefferies Financial Group lifted their price target on Prudential Financial from $105.00 to $110.00 and gave the company a "hold" rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $104.58.

Prudential Financial Trading Up 0.7%

Shares of PRU stock opened at $119.05 on Friday. Prudential Financial has a fifty-two week low of $91.89 and a fifty-two week high of $120.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a 50 day simple moving average of $107.27 and a two-hundred day simple moving average of $104.17. The company has a market cap of $41.31 billion, a P/E ratio of 12.25, a PEG ratio of 2.42 and a beta of 0.85.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data 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 company had revenue of $15.23 billion for the quarter, compared to analysts' expectations of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same quarter in the prior year, the firm earned $3.29 EPS. Research analysts forecast that Prudential Financial will post 13.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PRU. Regent Peak Wealth Advisors LLC purchased a new position in shares of Prudential Financial in the 2nd quarter worth about $215,000. Wedge Capital Management L L P NC increased its holdings in Prudential Financial by 8.7% during the second quarter. Wedge Capital Management L L P NC now owns 325,257 shares of the financial services provider's stock worth $35,105,000 after buying an additional 26,120 shares during the last quarter. Whitener Capital Management Inc. raised its position in Prudential Financial by 22.9% in the second quarter. Whitener Capital Management Inc. now owns 3,754 shares of the financial services provider's stock worth $405,000 after acquiring an additional 700 shares during the period. Tema ETFs LLC raised its position in Prudential Financial by 8.9% in the second quarter. Tema ETFs LLC now owns 7,083 shares of the financial services provider's stock worth $764,000 after acquiring an additional 580 shares during the period. Finally, KMG Fiduciary Partners LLC boosted its stake in Prudential Financial by 24.5% in the second quarter. KMG Fiduciary Partners LLC now owns 59,147 shares of the financial services provider's stock valued at $6,384,000 after acquiring an additional 11,657 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

About Prudential Financial

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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