Barclays Has Lowered Expectations for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its price target decreased by equities researchers at Barclays from $120.00 to $117.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 14.09% from the company’s current price.

A number of other research firms also recently weighed in on PRU. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Morgan Stanley upped their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Wolfe Research started coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $122.27.

Prudential Financial Trading Down 0.3%

NYSE PRU opened at $102.55 on Wednesday. Prudential Financial has a 1-year low of $90.38 and a 1-year high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $36.10 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. The firm’s fifty day simple moving average is $105.18 and its 200-day simple moving average is $104.65.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.47 billion. During the same period in the prior year, the business posted $3.39 earnings per share. Prudential Financial’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Prudential Financial will post 14.36 earnings per share for the current fiscal year.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares in the company, valued at $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Prudential Financial

A number of hedge funds have recently bought and sold shares of PRU. Brighton Jones LLC boosted its holdings in Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 133 shares during the period. Park Avenue Securities LLC lifted its stake in shares of Prudential Financial by 14.1% in the first quarter. Park Avenue Securities LLC now owns 13,857 shares of the financial services provider’s stock valued at $1,548,000 after buying an additional 1,714 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Prudential Financial by 17.1% in the first quarter. Farther Finance Advisors LLC now owns 12,141 shares of the financial services provider’s stock valued at $1,356,000 after buying an additional 1,769 shares during the period. GAMMA Investing LLC lifted its stake in shares of Prudential Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 7,771 shares of the financial services provider’s stock valued at $868,000 after buying an additional 145 shares during the period. Finally, Accurate Wealth Management LLC lifted its stake in shares of Prudential Financial by 15.8% in the first quarter. Accurate Wealth Management LLC now owns 7,802 shares of the financial services provider’s stock valued at $871,000 after buying an additional 1,064 shares during the period. 56.83% of the stock is currently 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.