Prudential Financial (NYSE:PRU) Upgraded at Wall Street Zen

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.

Wall Street Zen upgraded shares of Prudential Financial (NYSE:PRU - Free Report) from a sell rating to a hold rating in a report issued on Saturday morning.

Several other analysts have also recently issued reports on the company. Barclays increased their target price on Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods dropped their target price on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. Wells Fargo & Company dropped their target price 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. UBS Group dropped their target price on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Finally, Piper Sandler dropped their target price on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. One investment 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. According to MarketBeat.com, Prudential Financial currently has an average rating of "Hold" and an average target price of $121.75.

Prudential Financial Trading Up 1.5%

Shares of NYSE PRU traded up $1.48 during midday trading on Friday, hitting $103.21. The company's stock had a trading volume of 453,229 shares, compared to its average volume of 1,777,914. Prudential Financial has a 12-month low of $90.38 and a 12-month high of $130.55. The firm has a market cap of $36.54 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. The business's 50 day moving average is $104.89 and its two-hundred day moving average is $107.12. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. The company had revenue of $13.50 billion for the quarter, compared to analysts' expectations of $13.47 billion. During the same quarter in the prior year, the firm earned $3.39 earnings per share. Prudential Financial's revenue was down 2.5% compared to the same quarter last year. As a group, equities research analysts expect that Prudential Financial will post 14.36 EPS for the current year.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was acquired at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the purchase, the insider owned 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On Prudential Financial

A number of hedge funds have recently added to or reduced their stakes in PRU. Meeder Asset Management Inc. increased its holdings in Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock valued at $26,000 after buying an additional 111 shares in the last quarter. AlphaQuest LLC increased its holdings in Prudential Financial by 12,250.0% in the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider's stock valued at $28,000 after buying an additional 245 shares in the last quarter. North Capital Inc. purchased a new position in Prudential Financial in the first quarter valued at about $28,000. Cheviot Value Management LLC purchased a new position in Prudential Financial in the first quarter valued at about $26,000. Finally, Clearstead Trust LLC increased its holdings in Prudential Financial by 350.8% in the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider's stock valued at $30,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

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.