UBS Group Cuts Prudential Financial (NYSE:PRU) Price Target to $110.00

Prudential Financial (NYSE:PRU - Free Report) had its price target reduced by UBS Group from $122.00 to $110.00 in a research report released on Tuesday,Benzinga reports. UBS Group currently has a neutral rating on the financial services provider's stock.

Several other research analysts have also weighed in on PRU. Piper Sandler lowered their price target on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. lowered their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Morgan Stanley increased their price target 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. Keefe, Bruyette & Woods decreased their price objective on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company upped their target price on shares of Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $120.15.

Prudential Financial Stock Down 0.5%

Prudential Financial stock traded down $0.49 during mid-day trading on Tuesday, reaching $103.84. The company's stock had a trading volume of 3,535,576 shares, compared to its average volume of 1,641,394. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial has a 12 month low of $90.38 and a 12 month high of $130.55. The business's 50 day simple moving average is $103.48 and its 200 day simple moving average is $112.61. The company has a market capitalization of $36.76 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results 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. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The business had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter in the previous year, the business earned $3.12 earnings per share. Prudential Financial's quarterly revenue was down 38.2% on a year-over-year basis. As a group, research analysts anticipate that Prudential Financial will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Tuesday, May 20th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $5.40 annualized dividend and a yield of 5.20%. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Insiders Place Their Bets

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This trade represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, the insider now directly owns 87,047 shares of the company's stock, 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. Company insiders own 0.25% of the company's stock.

Hedge Funds Weigh In On Prudential Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Savant Capital LLC raised its position in Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock valued at $1,705,000 after purchasing an additional 83 shares in the last quarter. HBK Sorce Advisory LLC increased its stake in shares of Prudential Financial by 1.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock valued at $1,116,000 after purchasing an additional 91 shares during the last quarter. Asset Dedication LLC raised its holdings in shares of Prudential Financial by 28.4% during the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock worth $50,000 after buying an additional 93 shares in the last quarter. Altman Advisors Inc. lifted its position in shares of Prudential Financial by 0.6% during the 4th quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock worth $1,907,000 after buying an additional 94 shares during the last quarter. Finally, RNC Capital Management LLC grew its position in Prudential Financial by 3.3% in the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider's stock valued at $354,000 after acquiring an additional 95 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

About Prudential Financial

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.