Wells Fargo & Company Boosts Prudential Financial (NYSE:PRU) Price Target to $118.00

Prudential Financial (NYSE:PRU) had its price target increased by Wells Fargo & Company from $113.00 to $118.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 6.23% from the company’s current price.

Several other equities research analysts have also issued reports on PRU. BMO Capital Markets started coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. Barclays lifted their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Piper Sandler lowered their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Keefe, Bruyette & Woods lowered their price target on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. Finally, TD Cowen lifted their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average price target of $125.69.

Prudential Financial Trading Down 0.5 %

PRU opened at $111.08 on Wednesday. The stock has a market capitalization of $39.77 billion, a P/E ratio of 14.87, a P/E/G ratio of 0.99 and a beta of 1.31. Prudential Financial has a 12 month low of $104.44 and a 12 month high of $130.55. The firm’s fifty day simple moving average is $117.10 and its 200 day simple moving average is $119.59. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, research analysts anticipate that Prudential Financial will post 14.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The stock was acquired 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 of the company’s stock, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Prudential Financial

Several hedge funds and other institutional investors have recently modified their holdings of PRU. Grove Bank & Trust boosted its holdings in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the period. Centricity Wealth Management LLC bought a new stake in Prudential Financial in the 4th quarter valued at about $29,000. Ashton Thomas Securities LLC bought a new stake in Prudential Financial in the 3rd quarter valued at about $31,000. CGC Financial Services LLC boosted its holdings in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 124 shares during the period. Finally, Wingate Wealth Advisors Inc. bought a new stake in Prudential Financial in the 4th quarter valued at about $33,000. 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.