Prudential Financial (NYSE:PRU) Stock Price Expected to Rise, UBS Group Analyst Says

Prudential Financial (NYSE:PRU) had its price target increased by analysts at UBS Group from $111.00 to $116.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective indicates a potential downside of 2.86% from the company’s current price.

A number of other research analysts have also weighed in on the stock. Evercore ISI raised their target price on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. Piper Sandler lifted their price objective on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. Barclays decreased their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Mizuho started coverage on Prudential Financial in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price target for the company. Finally, Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Eleven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $118.60.

Prudential Financial Price Performance

Shares of Prudential Financial stock traded up $2.56 during trading on Thursday, reaching $119.41. 375,462 shares of the stock traded hands, compared to its average volume of 1,347,328. Prudential Financial has a 52-week low of $90.38 and a 52-week high of $123.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The business has a fifty day simple moving average of $110.40 and a two-hundred day simple moving average of $106.73. The company has a market capitalization of $41.79 billion, a price-to-earnings ratio of 16.41, a P/E/G ratio of 0.94 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.The company had revenue of $8.35 billion during the quarter. Sell-side analysts expect that Prudential Financial will post 14.36 EPS for the current year.

Insider Buying and Selling

In other news, EVP Caroline Feeney sold 6,555 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $116.28, for a total transaction of $762,215.40. Following the transaction, the executive vice president directly owned 22,523 shares of the company’s stock, valued at approximately $2,618,974.44. This trade represents a 22.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Charles F. Lowrey sold 48,164 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.39, for a total value of $5,172,331.96. Following the completion of the sale, the chairman owned 165,564 shares of the company’s stock, valued at $17,779,917.96. The trade was a 22.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 62,719 shares of company stock valued at $6,796,067 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Prudential Financial by 1.4% in the second quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock worth $4,566,432,000 after acquiring an additional 600,482 shares during the period. Geode Capital Management LLC lifted its position in shares of Prudential Financial by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 9,402,393 shares of the financial services provider’s stock worth $1,010,474,000 after purchasing an additional 163,874 shares during the period. Legal & General Group Plc boosted its stake in shares of Prudential Financial by 2.4% during the third quarter. Legal & General Group Plc now owns 2,701,116 shares of the financial services provider’s stock valued at $280,214,000 after purchasing an additional 62,366 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Prudential Financial by 1.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,408,942 shares of the financial services provider’s stock valued at $258,817,000 after buying an additional 31,088 shares during the period. Finally, Nordea Investment Management AB raised its stake in Prudential Financial by 16.6% in the fourth quarter. Nordea Investment Management AB now owns 2,044,374 shares of the financial services provider’s stock worth $231,321,000 after buying an additional 291,422 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.