Morgan Stanley Issues Positive Forecast for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its price target boosted by equities researchers at Morgan Stanley from $108.00 to $117.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 8.85% from the company’s current price.

PRU has been the topic of several other research reports. JPMorgan Chase & Co. cut their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Piper Sandler lowered their price objective on shares of Prudential Financial from $110.00 to $109.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company raised their target price on Prudential Financial from $108.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. BMO Capital Markets started 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. Finally, Barclays cut their price target on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $121.08.

Prudential Financial Stock Up 0.1%

Shares of NYSE PRU traded up $0.16 during mid-day trading on Monday, reaching $107.49. 273,462 shares of the company were exchanged, compared to its average volume of 1,614,433. The firm has a 50-day moving average of $104.71 and a 200 day moving average of $113.92. Prudential Financial has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market cap of $38.05 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.18 by $0.11. The firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Prudential Financial’s revenue was down 38.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.12 EPS. On average, research analysts expect that Prudential Financial will post 14.36 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost 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 in the company, valued at $2,499,989.84. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. The trade was a 18.14% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Grove Bank & Trust grew its holdings in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the period. Meeder Asset Management Inc. lifted its position in Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after buying an additional 111 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Prudential Financial during the fourth quarter valued at about $29,000. AlphaQuest LLC raised its stake in shares of Prudential Financial by 12,250.0% in the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 245 shares during the period. Finally, North Capital Inc. acquired a new position in shares of Prudential Financial in the 1st quarter worth approximately $28,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

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.