Prudential Financial (NYSE:PRU) Price Target Cut to $129.00 by Analysts at Keefe, Bruyette & Woods

Prudential Financial (NYSE:PRU) had its price objective reduced by Keefe, Bruyette & Woods from $135.00 to $129.00 in a research report sent to investors on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their target price for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Jefferies Financial Group raised their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. TD Cowen upped their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Wells Fargo & Company decreased their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Barclays increased their target price on Prudential Financial from $119.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Eleven analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $127.42.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $118.47 on Thursday. The company has a market cap of $42.17 billion, a P/E ratio of 10.53, a PEG ratio of 0.75 and a beta of 1.31. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $122.23 and a two-hundred day moving average price of $120.66. Prudential Financial has a 1-year low of $100.60 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share 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 the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the company posted $3.44 earnings per share. As a group, analysts anticipate that Prudential Financial will post 13.34 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is currently 46.22%.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Grove Bank & Trust lifted its holdings in shares of Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 89 shares in the last quarter. Daymark Wealth Partners LLC boosted its holdings in Prudential Financial by 3.9% in the 3rd quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 97 shares during the period. UMB Bank n.a. grew its position in shares of Prudential Financial by 2.7% during the 3rd quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 97 shares in the last quarter. Finally, Pure Financial Advisors LLC increased its holdings in shares of Prudential Financial by 2.7% in the third quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 97 shares during the period. Institutional investors 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.