Prudential Financial (NYSE:PRU) PT Raised to $127.00

Prudential Financial (NYSE:PRU) had its target price upped by analysts at Piper Sandler from $121.00 to $127.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would suggest a potential upside of 6.40% from the stock’s previous close.

Several other equities research analysts also recently issued reports on PRU. Jefferies Financial Group cut their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. UBS Group raised their price objective on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Argus raised Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays started coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective for the company. Finally, Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price for the company in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $121.33.

Prudential Financial Stock Performance

PRU opened at $119.36 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The business’s 50-day simple moving average is $117.12 and its 200 day simple moving average is $116.81. The firm has a market capitalization of $42.85 billion, a PE ratio of 20.30, a PEG ratio of 0.95 and a beta of 1.30. Prudential Financial has a 52-week low of $87.95 and a 52-week high of $128.52.

Prudential Financial (NYSE:PRU) last issued its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. As a group, sell-side analysts expect that Prudential Financial will post 13.3 earnings per share for the current fiscal year.

Insider Transactions at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Prudential Financial

Hedge funds have recently modified their holdings of the business. Verity & Verity LLC lifted its holdings in Prudential Financial by 0.6% during the 2nd quarter. Verity & Verity LLC now owns 162,881 shares of the financial services provider’s stock worth $19,088,000 after buying an additional 973 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in Prudential Financial by 99.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 597 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 297 shares during the last quarter. Heritage Wealth Management Inc. acquired a new position in shares of Prudential Financial in the 2nd quarter worth approximately $255,000. Sanctuary Advisors LLC bought a new stake in shares of Prudential Financial in the 2nd quarter valued at $6,129,000. Finally, Dana Investment Advisors Inc. increased its position in shares of Prudential Financial by 0.7% during the second quarter. Dana Investment Advisors Inc. now owns 21,365 shares of the financial services provider’s stock worth $2,504,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

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.