Prudential Financial (NYSE:PRU) Price Target Cut to $121.00

Prudential Financial (NYSE:PRU) had its price target decreased by Piper Sandler from $125.00 to $121.00 in a research report report published on Monday, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. UBS Group increased their price target on Prudential Financial from $108.00 to $112.00 and gave the stock a neutral rating in a research report on Monday, February 12th. Evercore ISI raised their target price on Prudential Financial from $115.00 to $116.00 and gave the stock an underperform rating in a report on Thursday, April 25th. Morgan Stanley boosted their price target on Prudential Financial from $109.00 to $117.00 and gave the company an equal weight rating in a report on Monday, April 15th. TheStreet raised shares of Prudential Financial from a c+ rating to an a- rating in a research note on Tuesday, February 6th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a market perform rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $111.08.

Prudential Financial Stock Up 1.1 %

Shares of PRU stock opened at $117.97 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial has a fifty-two week low of $77.87 and a fifty-two week high of $118.69. The firm has a market capitalization of $42.35 billion, a PE ratio of 20.06, a P/E/G ratio of 0.83 and a beta of 1.35. The stock’s 50-day simple moving average is $112.65 and its 200-day simple moving average is $104.87.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The business had revenue of $15.01 billion for 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 quarterly revenue was up 69.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.66 earnings per share. Equities analysts expect that Prudential Financial will post 13.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Monday, May 20th. Prudential Financial’s payout ratio is 88.44%.

Insider Buying and Selling at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the sale, the senior vice president now directly owns 14,754 shares in the company, valued at $1,595,350.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the sale, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the transaction, the senior vice president now owns 14,754 shares in the company, valued at approximately $1,595,350.02. The disclosure for this sale can be found here. Insiders sold 34,444 shares of company stock valued at $3,820,597 over the last quarter. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Prudential Financial

A number of institutional investors have recently bought and sold shares of PRU. Nwam LLC acquired a new position in shares of Prudential Financial in the 1st quarter valued at $209,000. Dorsey & Whitney Trust CO LLC lifted its position in Prudential Financial by 4.0% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 5,910 shares of the financial services provider’s stock valued at $694,000 after buying an additional 230 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in Prudential Financial by 19.3% during the first quarter. Kingsview Wealth Management LLC now owns 6,910 shares of the financial services provider’s stock worth $811,000 after buying an additional 1,116 shares during the period. Zega Financial LLC purchased a new stake in shares of Prudential Financial in the 1st quarter valued at approximately $247,000. Finally, TBH Global Asset Management LLC acquired a new position in shares of Prudential Financial in the 1st quarter worth approximately $281,000. 56.83% of the stock is 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.