Prudential Financial (NYSE:PRU) Price Target Raised to $116.00

Prudential Financial (NYSE:PRU) had its target price hoisted by equities research analysts at UBS Group from $111.00 to $116.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. UBS Group’s target price suggests a potential downside of 2.86% from the company’s previous close.

PRU has been the subject of a number of other reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Prudential Financial in a research note on Monday, December 29th. Keefe, Bruyette & Woods upped their price target on Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research note on Monday, November 3rd. Piper Sandler lifted their target price on shares of Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Mizuho began coverage on Prudential Financial in a report on Tuesday, December 16th. They set a “neutral” rating and a $125.00 price target for the company. Eleven analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial has an average rating of “Reduce” and a consensus target price of $118.60.

Prudential Financial Trading Up 2.2%

PRU traded up $2.56 during midday trading on Thursday, reaching $119.41. 375,462 shares of the company’s stock traded hands, compared to its average volume of 1,347,328. The stock has a market capitalization of $41.79 billion, a price-to-earnings ratio of 16.41, a P/E/G ratio of 0.94 and a beta of 0.97. Prudential Financial has a 52 week low of $90.38 and a 52 week high of $123.88. The firm has a fifty day moving average of $110.40 and a two-hundred day moving average of $106.73. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.The company had revenue of $8.35 billion during the quarter. On average, equities analysts anticipate that Prudential Financial will post 14.36 earnings per share for the current fiscal year.

Insider Transactions at Prudential Financial

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the sale, the chairman owned 165,564 shares in the company, valued at approximately $17,779,917.96. This represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy L. Schmidt sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total value of $861,520.00. Following the completion of the transaction, the senior vice president directly owned 11,535 shares in the company, valued at $1,242,204.15. The trade was a 40.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 62,719 shares of company stock worth $6,796,067 in the last ninety days. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

A number of institutional investors have recently bought and sold shares of PRU. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Prudential Financial by 21.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 100,492 shares of the financial services provider’s stock worth $11,826,000 after acquiring an additional 17,849 shares during the period. NorthCrest Asset Manangement LLC lifted its holdings in Prudential Financial by 12.7% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 3,361 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 379 shares in the last quarter. Gryphon Financial Partners LLC purchased a new position in Prudential Financial in the 4th quarter worth approximately $283,000. Wedmont Private Capital boosted its stake in Prudential Financial by 3.8% in the 4th quarter. Wedmont Private Capital now owns 3,461 shares of the financial services provider’s stock worth $404,000 after purchasing an additional 127 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Prudential Financial by 16.6% during the 4th quarter. Nordea Investment Management AB now owns 2,044,374 shares of the financial services provider’s stock valued at $231,321,000 after buying an additional 291,422 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Company Profile

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.