Prudential Financial (NYSE:PRU) Stock Price Expected to Rise, Barclays Analyst Says

Prudential Financial (NYSE:PRU) had its price objective boosted by equities research analysts at Barclays from $90.00 to $92.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential downside of 20.65% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Prudential Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. BMO Capital Markets cut their price objective on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a research note on Thursday, April 23rd. Morgan Stanley restated an “underweight” rating and issued a $92.00 target price (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. Piper Sandler upped their target price on Prudential Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Finally, Jefferies Financial Group lowered shares of Prudential Financial from a “buy” rating to a “hold” rating and dropped their price target for the company from $124.00 to $98.00 in a research report on Wednesday, April 22nd. Eleven analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $102.08.

Prudential Financial Stock Up 1.5%

Shares of Prudential Financial stock traded up $1.67 on Tuesday, hitting $115.94. 426,240 shares of the company traded hands, compared to its average volume of 2,196,531. Prudential Financial has a 12-month low of $91.89 and a 12-month high of $119.76. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The company has a market cap of $40.23 billion, a PE ratio of 11.93, a PEG ratio of 2.06 and a beta of 0.85. The company has a 50-day moving average price of $103.68 and a 200 day moving average price of $104.06.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The business had revenue of $15.23 billion during the quarter, compared to analyst estimates of $14.10 billion. During the same period last year, the company earned $3.29 earnings per share. Sell-side analysts predict that Prudential Financial will post 13.81 earnings per share for the current year.

Institutional Trading of Prudential Financial

Several institutional investors have recently made changes to their positions in PRU. Sunflower Bank N.A. increased its stake in shares of Prudential Financial by 3.2% in the 4th quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider’s stock valued at $329,000 after buying an additional 91 shares during the period. Wetzel Investment Advisors Inc. raised its holdings in Prudential Financial by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider’s stock worth $1,131,000 after purchasing an additional 94 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Prudential Financial by 0.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock valued at $2,987,000 after purchasing an additional 97 shares during the period. Transcend Capital Advisors LLC boosted its stake in Prudential Financial by 2.4% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 98 shares during the last quarter. Finally, Mindset Wealth Management LLC boosted its position in shares of Prudential Financial by 2.1% in the 3rd quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 100 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.