JPMorgan Chase & Co. Issues Pessimistic Forecast for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its price target decreased by research analysts at JPMorgan Chase & Co. from $128.00 to $126.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 13.78% from the company’s previous close.

PRU has been the subject of several other reports. Barclays upped their price objective on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. BMO Capital Markets assumed coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. Keefe, Bruyette & Woods cut their price objective on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Piper Sandler lowered their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Jefferies Financial Group lifted their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and a consensus price target of $126.00.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $110.74 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market cap of $39.65 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.98 and a beta of 1.28. The stock has a 50 day moving average of $112.78 and a two-hundred day moving average of $118.92. Prudential Financial has a twelve month low of $104.45 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates 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 forecast that Prudential Financial will post 14.36 earnings per share for the current year.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the acquisition, the insider now directly owns 87,047 shares of the company’s stock, valued at $2,499,989.84. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Prudential Financial

Several hedge funds and other institutional investors have recently bought and sold shares of PRU. Benjamin Edwards Inc. raised its holdings in Prudential Financial by 1,843.0% in the third quarter. Benjamin Edwards Inc. now owns 26,794 shares of the financial services provider’s stock valued at $3,246,000 after acquiring an additional 25,415 shares in the last quarter. Ascent Group LLC acquired a new stake in shares of Prudential Financial in the 3rd quarter valued at about $200,000. Hilltop Holdings Inc. lifted its position in shares of Prudential Financial by 25.3% during the third quarter. Hilltop Holdings Inc. now owns 11,473 shares of the financial services provider’s stock worth $1,389,000 after purchasing an additional 2,316 shares during the last quarter. HighTower Advisors LLC grew its stake in Prudential Financial by 18.7% in the third quarter. HighTower Advisors LLC now owns 69,542 shares of the financial services provider’s stock worth $8,395,000 after purchasing an additional 10,964 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Prudential Financial by 2.3% during the third 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 in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Company Profile

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.