Barclays Increases Prudential Financial (NYSE:PRU) Price Target to $129.00

Prudential Financial (NYSE:PRU) had its price objective upped by equities research analysts at Barclays from $119.00 to $129.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would suggest a potential upside of 7.58% from the company’s previous close.

PRU has been the topic of a number of other research reports. TD Cowen upped their target price 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. Piper Sandler boosted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Bank of America increased their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and increased their price target for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Finally, Jefferies Financial Group increased their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $127.17.

Prudential Financial Price Performance

Shares of NYSE:PRU traded up $0.77 on Monday, hitting $119.91. The company had a trading volume of 425,811 shares, compared to its average volume of 767,798. The business has a 50 day moving average of $123.17 and a 200 day moving average of $120.68. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a market cap of $42.69 billion, a PE ratio of 10.66, a PEG ratio of 0.87 and a beta of 1.29. Prudential Financial has a 52-week low of $100.60 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the company earned $3.44 EPS. As a group, equities analysts anticipate that Prudential Financial will post 13.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Prudential Financial in the third quarter valued at $31,000. Strategic Financial Concepts LLC grew its stake in Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after buying an additional 25,027 shares during the last quarter. Quarry LP raised its holdings in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 222 shares in the last quarter. Tompkins Financial Corp grew its holdings in shares of Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in Prudential Financial by 235.4% in the third quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 266 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

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.