Prudential Financial (NYSE:PRU) Stock Rating Lowered by Wall Street Zen

Prudential Financial (NYSE:PRU) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. Zacks Research raised shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. JPMorgan Chase & Co. lifted their target price on Prudential Financial from $129.00 to $131.00 and gave the stock a “neutral” rating in a report on Monday, August 17th. Mizuho boosted their target price on Prudential Financial from $101.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. TD Cowen increased their price target on Prudential Financial from $102.00 to $114.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $109.31.

Prudential Financial Stock Performance

Shares of PRU stock opened at $119.18 on Friday. The stock has a market cap of $41.12 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.79 and a beta of 0.83. The stock has a 50-day moving average of $120.03 and a 200-day moving average of $107.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial has a one year low of $91.89 and a one year high of $127.72.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.36 billion. During the same quarter last year, the firm earned $3.58 EPS. As a group, sell-side analysts expect that Prudential Financial will post 14.51 earnings per share for the current year.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total value of $5,314,963.50. Following the sale, the insider owned 7,973,657 shares in the company, valued at approximately $197,348,010.75. The trade was a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ann M. Kappler sold 7,652 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the transaction, the executive vice president directly owned 14,407 shares of the company’s stock, valued at $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Plimoth Trust Co. LLC grew its position in Prudential Financial by 2.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 3,860 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 90 shares during the last quarter. Keating Financial Advisory Services Inc. raised its position in Prudential Financial by 34.8% in the 2nd quarter. Keating Financial Advisory Services Inc. now owns 395 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 102 shares during the last quarter. Rossby Financial LCC boosted its stake in Prudential Financial by 32.4% in the fourth quarter. Rossby Financial LCC now owns 421 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 103 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Prudential Financial by 5.6% during the fourth quarter. TD Private Client Wealth LLC now owns 1,972 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 104 shares during the last quarter. Finally, Western Wealth Management LLC increased its stake in shares of Prudential Financial by 1.7% in the fourth quarter. Western Wealth Management LLC now owns 6,215 shares of the financial services provider’s stock valued at $702,000 after buying an additional 105 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Company Profile

Prudential Financial, Inc is a global financial services company headquartered in Newark, New Jersey. Founded in 1875 as The Widows and Orphans Friendly Society, the company has grown from a life insurance provider into a diversified business offering insurance, retirement, investment management and related financial services.

Through its U.S. businesses, Prudential provides individual life insurance and annuities, workplace retirement plans, pension risk transfer solutions, group life and disability insurance, and other benefits and financial wellness products.