Prudential Financial (NYSE:PRU) Given New $105.00 Price Target at Piper Sandler

Prudential Financial (NYSE:PRU) had its price target hoisted by investment analysts at Piper Sandler from $99.00 to $105.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target points to a potential upside of 3.77% from the company’s current price.

A number of other research analysts have also recently issued reports on PRU. JPMorgan Chase & Co. reduced their price objective on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. Weiss Ratings cut shares of Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Barclays lifted their price objective on shares of Prudential Financial from $89.00 to $90.00 and gave the company an “underweight” rating in a report on Wednesday, May 6th. Zacks Research cut shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Finally, BMO Capital Markets cut their price target on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a report on Thursday, April 23rd. Nine investment analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $100.42.

Prudential Financial Stock Up 0.4%

Shares of NYSE PRU traded up $0.38 during mid-day trading on Monday, reaching $101.19. 664,244 shares of the company’s stock traded hands, compared to its average volume of 2,339,743. The stock has a market cap of $35.11 billion, a P/E ratio of 10.41, a PEG ratio of 1.83 and a beta of 0.86. The business has a 50-day simple moving average of $96.87 and a 200 day simple moving average of $104.57. Prudential Financial has a 1-year low of $91.89 and a 1-year high of $119.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. The firm had revenue of $15.23 billion during the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same period last year, the company earned $3.29 earnings per share. On average, analysts expect that Prudential Financial will post 13.66 EPS for the current fiscal year.

Insider Activity

In related news, Director Thomas D. Stoddard acquired 250 shares of the stock in a transaction on Tuesday, February 17th. The shares were acquired at an average price of $102.97 per share, with a total value of $25,742.50. Following the completion of the transaction, the director owned 250 shares in the company, valued at approximately $25,742.50. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph J. Wolk acquired 400 shares of the stock in a transaction on Wednesday, February 11th. The stock was bought at an average cost of $105.32 per share, for a total transaction of $42,128.00. Following the transaction, the director owned 400 shares of the company’s stock, valued at approximately $42,128. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.05% of the stock is currently owned by insiders.

Institutional Trading of Prudential Financial

Several hedge funds have recently added to or reduced their stakes in PRU. Brighton Jones LLC raised its position in Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 133 shares during the period. Empowered Funds LLC raised its position in Prudential Financial by 30.5% in the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after acquiring an additional 4,134 shares during the period. Brown Advisory Inc. raised its position in Prudential Financial by 3.5% in the second quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider’s stock worth $447,000 after acquiring an additional 140 shares during the period. AXA S.A. raised its position in Prudential Financial by 25.8% in the second quarter. AXA S.A. now owns 56,700 shares of the financial services provider’s stock worth $6,092,000 after acquiring an additional 11,630 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of Prudential Financial by 15.1% in the second quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider’s stock valued at $4,005,000 after purchasing an additional 4,895 shares during the period. 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.