Prudential Financial (NYSE:PRU) Stock Price Expected to Rise, TD Cowen Analyst Says

Prudential Financial (NYSE:PRU) had its price target hoisted by research analysts at TD Cowen from $130.00 to $133.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective would indicate a potential upside of 2.69% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Barclays upped their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Bank of America raised their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. Argus upgraded Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company upped their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $125.92.

Prudential Financial Trading Up 0.3 %

PRU stock opened at $129.52 on Wednesday. Prudential Financial has a 1-year low of $95.10 and a 1-year high of $130.55. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $124.08 and its 200-day moving average is $120.03. The firm has a market cap of $46.11 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.91 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The firm had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period in the prior year, the company posted $3.44 earnings per share. Equities analysts anticipate that Prudential Financial will post 13.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the company’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 completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRU. Annex Advisory Services LLC lifted its holdings in shares of Prudential Financial by 3.4% during the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 81 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Prudential Financial by 1.1% in the second quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock valued at $951,000 after buying an additional 87 shares during the period. Avidian Wealth Enterprises LLC increased its position in shares of Prudential Financial by 1.2% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after acquiring an additional 89 shares in the last quarter. Quotient Wealth Partners LLC raised its holdings in shares of Prudential Financial by 3.9% during the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after acquiring an additional 92 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its position in Prudential Financial by 4.6% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,131 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 94 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Company Profile

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.