Wall Street Zen Upgrades Prudential Financial (NYSE:PRU) to "Hold"

Key Points

• Wall Street Zen upgraded Prudential Financial (NYSE:PRU) from a "sell" rating to a "hold" rating in a recent research report.
• Prudential Financial's stock price has experienced a decline of 2.8% and currently trades at $100.64, with an average price target of $121.75 among analysts.
• Prudential Financial reported earnings of $3.58 per share for the last quarter, exceeding analysts' expectations of $3.22, but noted a 2.5% decline in revenue year-over-year.

Prudential Financial (NYSE:PRU - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Several other research analysts have also recently commented on the stock. Piper Sandler reduced their target price on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. JPMorgan Chase & Co. raised their price objective on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Morgan Stanley lowered their target price on Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating on the stock in a research report on Monday, July 14th. Keefe, Bruyette & Woods reduced their price target on 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 lowered their price target on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $121.75.

Prudential Financial Trading Down 2.8%

Shares of NYSE PRU opened at $100.64 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.17 and a debt-to-equity ratio of 0.60. The company has a market cap of $35.63 billion, a PE ratio of 22.31, a P/E/G ratio of 1.02 and a beta of 1.07. The company has a 50-day moving average of $104.90 and a two-hundred day moving average of $107.40. Prudential Financial has a 1-year low of $90.38 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data 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. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business had revenue of $13.50 billion during the quarter, compared to analysts' expectations of $13.47 billion. During the same quarter in the prior year, the company earned $3.39 EPS. The firm's quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts expect that Prudential Financial will post 14.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the transaction, the insider owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. This trade represents a 112.29% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Prudential Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp grew its stake in shares of Prudential Financial by 23.7% in the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock worth $555,513,000 after buying an additional 897,916 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Prudential Financial by 11,280.3% in the first quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock worth $96,923,000 after acquiring an additional 860,239 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Prudential Financial in the first quarter worth $90,010,000. Goldman Sachs Group Inc. increased its holdings 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 valued at $469,777,000 after acquiring an additional 678,028 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Prudential Financial by 49.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider's stock worth $184,192,000 after purchasing an additional 567,571 shares during the last quarter. 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.