Prudential Financial (NYSE:PRU) Given New $92.00 Price Target at Barclays

Prudential Financial (NYSE:PRU) had its price target increased by analysts at Barclays from $90.00 to $92.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential downside of 20.65% from the stock’s previous close.

Several other equities research analysts have also recently commented on PRU. BMO Capital Markets cut their price objective on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a research report on Thursday, April 23rd. Wells Fargo & Company increased their target price on Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a report on Tuesday, May 12th. Mizuho boosted their price target on Prudential Financial from $96.00 to $101.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Piper Sandler upped their price objective on Prudential Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Finally, UBS Group decreased their price objective on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Eleven analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $102.08.

Prudential Financial Trading Up 1.5%

Shares of Prudential Financial stock traded up $1.67 during trading hours on Tuesday, hitting $115.94. The company’s stock had a trading volume of 426,240 shares, compared to its average volume of 2,196,531. The stock has a 50 day moving average of $103.68 and a 200 day moving average of $104.06. 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 company has a market capitalization of $40.23 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 2.06 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. The firm had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same quarter in the previous year, the firm posted $3.29 earnings per share. Analysts predict that Prudential Financial will post 13.81 earnings per share for the current year.

Institutional Trading of Prudential Financial

Several institutional investors and hedge funds have recently bought and sold shares of PRU. Arrowstreet Capital Limited Partnership boosted its position in Prudential Financial by 95.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,556,748 shares of the financial services provider’s stock valued at $249,769,000 after purchasing an additional 1,247,371 shares during the last quarter. Norges Bank acquired a new position in shares of Prudential Financial during the 4th quarter worth approximately $140,530,000. Marshall Wace LLP raised its stake in shares of Prudential Financial by 230.3% during the 4th quarter. Marshall Wace LLP now owns 1,374,966 shares of the financial services provider’s stock worth $155,206,000 after purchasing an additional 958,672 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Prudential Financial by 37.3% in the 1st quarter. First Trust Advisors LP now owns 1,588,247 shares of the financial services provider’s stock valued at $155,156,000 after buying an additional 431,527 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Prudential Financial by 6.7% in the fourth quarter. Morgan Stanley now owns 6,649,202 shares of the financial services provider’s stock valued at $750,562,000 after buying an additional 420,081 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Company Profile

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.