Prudential Financial (NYSE:PRU) PT Lowered to $121.00

Prudential Financial (NYSE:PRU) had its target price decreased by stock analysts at Piper Sandler from $125.00 to $121.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price suggests a potential upside of 4.10% from the company’s current price.

A number of other analysts have also recently commented on the stock. UBS Group lifted their target price on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Morgan Stanley boosted their price objective on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods raised their target price on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. Finally, TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $111.08.

Prudential Financial Price Performance

NYSE PRU opened at $116.23 on Monday. The firm’s fifty day simple moving average is $112.48 and its two-hundred day simple moving average is $104.78. The firm has a market capitalization of $41.73 billion, a P/E ratio of 19.77, a P/E/G ratio of 0.83 and a beta of 1.35. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial has a 12-month low of $77.87 and a 12-month high of $118.69.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). The business had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company’s quarterly revenue was up 69.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.66 earnings per share. Analysts forecast that Prudential Financial will post 13.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Ann M. Kappler sold 7,222 shares of Prudential Financial stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the transaction, the executive vice president now owns 24,381 shares in the company, valued at approximately $2,642,656.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the sale, the senior vice president now owns 14,754 shares in the company, valued at $1,595,350.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the transaction, the executive vice president now owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,255 shares of company stock worth $3,215,664. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Several large investors have recently bought and sold shares of the company. Cambridge Trust Co. lifted its holdings in Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $26,000. Headinvest LLC acquired a new position in Prudential Financial during the third quarter worth about $27,000. Arlington Trust Co LLC grew its stake in Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 185 shares in the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in Prudential Financial in the 4th quarter valued at about $36,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

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.