Prudential Financial (NYSE:PRU) Price Target Raised to $118.00

Prudential Financial (NYSE:PRU) had its price objective lifted by Wells Fargo & Company from $113.00 to $118.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 5.64% from the company’s previous close.

Several other brokerages have also recently weighed in on PRU. Piper Sandler decreased their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays increased their price target on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Keefe, Bruyette & Woods reduced their price objective on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. Finally, BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. 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. Based on data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average price target of $125.69.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $111.71 on Wednesday. Prudential Financial has a 1-year low of $104.44 and a 1-year high of $130.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The business’s fifty day moving average price is $117.46 and its two-hundred day moving average price is $119.71. The firm has a market capitalization of $39.99 billion, a PE ratio of 14.95, a P/E/G ratio of 0.99 and a beta of 1.31.

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

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Glenmede Trust Co. NA raised its stake in shares of Prudential Financial by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after acquiring an additional 1,234 shares in the last quarter. Avanza Fonder AB acquired a new stake in Prudential Financial in the 4th quarter valued at approximately $3,423,000. Gateway Investment Advisers LLC grew its holdings in Prudential Financial by 56.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after buying an additional 7,907 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Prudential Financial by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after buying an additional 15,695 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Prudential Financial by 2.3% in the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after buying an additional 1,765 shares during the last quarter. 56.83% of the stock is owned by 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.