Prudential Financial (NYSE:PRU) Price Target Raised to $100.00

Prudential Financial (NYSE:PRU) had its target price boosted by equities researchers at Wells Fargo & Company from $93.00 to $100.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 0.14% from the stock’s current price.

A number of other research firms also recently commented on PRU. Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $104.00 to $100.00 and set a “market perform” rating on the stock in a report on Thursday, April 23rd. UBS Group cut their target price on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Mizuho increased their price target on Prudential Financial from $96.00 to $101.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings cut Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Finally, Bank of America reduced their price objective on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Nine analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, Prudential Financial presently has an average rating of “Reduce” and an average price target of $101.00.

Prudential Financial Trading Down 1.0%

Prudential Financial stock opened at $100.14 on Tuesday. Prudential Financial has a 12-month low of $91.89 and a 12-month 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. The stock has a market capitalization of $34.75 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 1.83 and a beta of 0.86. The firm has a 50 day simple moving average of $96.85 and a 200-day simple moving average of $104.56.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results 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 analyst estimates of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same period last year, the company posted $3.29 EPS. As a group, equities research analysts expect that Prudential Financial will post 13.66 EPS for the current fiscal year.

Insider Activity

In other Prudential Financial news, Director Joseph J. Wolk acquired 400 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was purchased 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 $42,128. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas D. Stoddard purchased 250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average price of $102.97 per share, with a total value of $25,742.50. Following the completion of the acquisition, the director owned 250 shares of the company’s stock, valued at $25,742.50. 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 corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sunflower Bank N.A. lifted its holdings in shares of Prudential Financial by 3.2% during the 4th quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider’s stock valued at $329,000 after buying an additional 91 shares during the last quarter. Wetzel Investment Advisors Inc. raised its position in Prudential Financial by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider’s stock valued at $1,131,000 after acquiring an additional 94 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in Prudential Financial by 0.3% in the third quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock valued at $2,987,000 after acquiring an additional 97 shares during the last quarter. Transcend Capital Advisors LLC boosted its holdings in Prudential Financial by 2.4% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 98 shares in the last quarter. Finally, Mindset Wealth Management LLC increased its position in Prudential Financial by 2.1% during the third quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock worth $496,000 after buying an additional 100 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

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.