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

Prudential Financial (NYSE:PRU - Get Free Report) had its target price decreased by equities researchers at UBS Group from $122.00 to $110.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. UBS Group's price target points to a potential upside of 5.82% from the stock's previous close.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company lifted their price objective on Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Piper Sandler cut their price objective on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Barclays decreased their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. cut their price target on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, Morgan Stanley lifted their price objective 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $120.15.

Prudential Financial Stock Performance

Shares of Prudential Financial stock traded up $2.04 during trading on Tuesday, reaching $103.96. The company's stock had a trading volume of 470,031 shares, compared to its average volume of 1,622,603. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The business's 50-day moving average price is $104.14 and its 200-day moving average price is $113.12. Prudential Financial has a 52 week low of $90.38 and a 52 week high of $130.55. The firm has a market cap of $36.80 billion, a PE ratio of 13.91, a P/E/G ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last posted 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. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter in the previous year, the firm posted $3.12 EPS. The business's revenue for the quarter was down 38.2% compared to the same quarter last year. Equities analysts forecast that Prudential Financial will post 14.36 earnings per share for the current year.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were acquired at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the acquisition, the insider now owns 139,987 shares of the company's stock, valued at $3,992,429.24. This trade represents a 60.18% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On Prudential Financial

Several institutional investors and hedge funds have recently made changes to their positions in PRU. Vanguard Group Inc. lifted its stake in Prudential Financial by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider's stock valued at $4,960,547,000 after buying an additional 220,671 shares during the period. Geode Capital Management LLC increased its stake in Prudential Financial by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider's stock valued at $1,050,635,000 after purchasing an additional 193,681 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Prudential Financial by 23.7% in the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock valued at $555,513,000 after buying an additional 897,916 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Prudential Financial by 2.7% during the first quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider's stock valued at $495,859,000 after buying an additional 116,079 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Prudential Financial by 19.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock worth $469,777,000 after acquiring an additional 678,028 shares in the last quarter. Institutional investors and hedge funds 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.

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