Wells Fargo & Company Boosts Prudential Financial (NYSE:PRU) Price Target to $117.00

Prudential Financial (NYSE:PRU) had its price objective boosted by equities research analysts at Wells Fargo & Company from $116.00 to $117.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 2.93% from the company’s previous close.

A number of other brokerages have also weighed in on PRU. Morgan Stanley dropped their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. TD Cowen started coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective for the company. UBS Group lifted their target price on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Piper Sandler raised their price target on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Citigroup upped their price objective on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $123.85.

Prudential Financial Stock Performance

Prudential Financial stock traded down $0.13 during midday trading on Tuesday, hitting $120.53. The stock had a trading volume of 135,034 shares, compared to its average volume of 1,476,831. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial has a 52-week low of $89.90 and a 52-week high of $128.52. The company has a market capitalization of $42.91 billion, a PE ratio of 10.72, a P/E/G ratio of 0.86 and a beta of 1.29. The firm’s fifty day moving average is $121.16 and its two-hundred day moving average is $118.49.

Prudential Financial (NYSE:PRU) last released its earnings results 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 analysts’ expectations of $14.57 billion. During the same quarter last year, the business posted $3.44 earnings per share. On average, research analysts forecast that Prudential Financial will post 13.32 EPS for the current year.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. National Bank of Canada FI grew its stake in Prudential Financial by 44.9% in the first quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock valued at $27,327,000 after purchasing an additional 71,274 shares during the last quarter. ORG Partners LLC bought a new position in shares of Prudential Financial during the 2nd quarter worth approximately $156,000. Russell Investments Group Ltd. lifted its position in Prudential Financial by 25.0% during the first quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock valued at $21,171,000 after acquiring an additional 36,159 shares during the last quarter. PGGM Investments boosted its stake in Prudential Financial by 98.0% in the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock valued at $7,533,000 after acquiring an additional 31,807 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Prudential Financial by 6.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 406,295 shares of the financial services provider’s stock worth $47,699,000 after purchasing an additional 25,196 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

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.