Barclays Issues Positive Forecast for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its target price lifted by analysts at Barclays from $118.00 to $119.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price indicates a potential downside of 3.00% from the stock’s current price.

A number of other research analysts have also weighed in on PRU. TD Cowen started coverage on shares of Prudential Financial in a research note on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price objective on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. Bank of America raised their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price target on shares of Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Argus raised shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $123.77.

Prudential Financial Trading Up 0.2 %

Shares of PRU traded up $0.20 during trading hours on Friday, hitting $122.68. 468,240 shares of the stock were exchanged, compared to its average volume of 1,475,531. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market capitalization of $43.80 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. The business has a 50-day moving average of $121.02 and a 200-day moving average of $118.16. Prudential Financial has a fifty-two week low of $89.90 and a fifty-two week high of $128.52.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.66%. During the same period last year, the company posted $3.44 earnings per share. On average, research analysts expect that Prudential Financial will post 13.3 EPS for the current year.

Insider Transactions at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the stock in a transaction on Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Institutional investors have recently added to or reduced their stakes in the stock. Norden Group LLC bought a new stake in Prudential Financial in the first quarter worth $2,789,000. Diversify Advisory Services LLC bought a new position in Prudential Financial in the first quarter worth about $272,000. Sequoia Financial Advisors LLC increased its holdings in shares of Prudential Financial by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 94 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Prudential Financial by 4.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,164 shares of the financial services provider’s stock valued at $12,698,000 after acquiring an additional 4,802 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Prudential Financial by 3.0% during the first quarter. Janney Montgomery Scott LLC now owns 166,822 shares of the financial services provider’s stock valued at $19,585,000 after acquiring an additional 4,787 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

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.