Prudential Financial (NYSE:PRU) Upgraded to Buy by Jefferies Financial Group

Prudential Financial (NYSE:PRUGet Free Report) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report released on Wednesday, MarketBeat.com reports. The brokerage presently has a $143.00 price objective on the financial services provider’s stock, up from their previous price objective of $121.00. Jefferies Financial Group’s target price indicates a potential upside of 21.34% from the company’s current price.

A number of other equities analysts also recently commented on the company. Piper Sandler cut their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Morgan Stanley raised their price objective on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Wells Fargo & Company raised their target price on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Finally, TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $115.25.

View Our Latest Research Report on Prudential Financial

Prudential Financial Stock Down 1.4 %

Shares of NYSE:PRU opened at $117.85 on Wednesday. The stock’s 50-day moving average price is $114.55 and its two-hundred day moving average price is $106.92. 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 $78.40 and a 12-month high of $121.39. The firm has a market cap of $42.31 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 0.88 and a beta of 1.35.

Prudential Financial (NYSE:PRUGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The firm had revenue of $15.01 billion during the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The business’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.66 earnings per share. On average, research analysts forecast that Prudential Financial will post 13.42 EPS for the current year.

Insiders Place Their Bets

In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the sale, the executive vice president now directly owns 202,083 shares in the company, valued at approximately $23,960,981.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Ann M. Kappler sold 7,222 shares of Prudential Financial stock in a transaction that occurred on 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 legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the transaction, the executive vice president now owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The disclosure for this sale can be found here. Insiders have sold 164,536 shares of company stock worth $19,245,606 in the last three months. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Prudential Financial by 13.9% in 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 acquiring an additional 5,154,865 shares in the last quarter. Morgan Stanley boosted its position in Prudential Financial by 0.9% during the 3rd quarter. Morgan Stanley now owns 6,317,338 shares of the financial services provider’s stock valued at $599,452,000 after purchasing an additional 57,531 shares during the period. Northern Trust Corp boosted its position in Prudential Financial by 4.8% during the 3rd quarter. Northern Trust Corp now owns 4,353,086 shares of the financial services provider’s stock valued at $413,064,000 after purchasing an additional 197,422 shares during the period. Dimensional Fund Advisors LP boosted its position in Prudential Financial by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock valued at $414,926,000 after purchasing an additional 388,363 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Prudential Financial by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,346,612 shares of the financial services provider’s stock valued at $243,367,000 after purchasing an additional 72,696 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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