Prudential Financial (NYSE:PRU) Now Covered by TD Cowen

TD Cowen initiated coverage on shares of Prudential Financial (NYSE:PRU) in a report released on Wednesday, MarketBeat Ratings reports. The brokerage set a “hold” rating and a $130.00 price target on the financial services provider’s stock. TD Cowen’s target price would indicate a potential upside of 7.54% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Piper Sandler boosted their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target for the company in a report on Monday, August 12th. Morgan Stanley decreased their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Citigroup upped their target price on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Finally, UBS Group lifted their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $123.92.

Prudential Financial Stock Up 0.3 %

Prudential Financial stock opened at $120.88 on Wednesday. The firm has a market cap of $43.40 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 0.94 and a beta of 1.30. The firm has a fifty day moving average price of $116.75 and a two-hundred day moving average price of $117.02. Prudential Financial has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last released its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. As a group, analysts forecast that Prudential Financial will post 13.29 earnings per share for the current year.

Insider Activity at Prudential Financial

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 stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease 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 hyperlink. In other news, EVP Caroline Feeney sold 1,110 shares of the company’s 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 transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Trading of Prudential Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRU. Vanguard Group Inc. grew its position in shares of Prudential Financial by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after buying an additional 5,154,865 shares during the period. AQR Capital Management LLC raised its position in shares of Prudential Financial by 97.4% during the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after acquiring an additional 357,300 shares during the last quarter. Swedbank AB acquired a new position in shares of Prudential Financial in the 1st quarter valued at $35,855,000. Legal & General Group Plc boosted its position in shares of Prudential Financial by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after purchasing an additional 305,143 shares during the last quarter. Finally, Gillson Capital LP acquired a new stake in shares of Prudential Financial during the fourth quarter worth $16,536,000. 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.