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

Prudential Financial (NYSE:PRU) had its price objective boosted by research analysts at Barclays from $118.00 to $119.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential downside of 1.88% from the company’s previous close.

Other analysts also recently issued reports about the stock. TD Cowen began coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price target on the stock. Citigroup raised their target price on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Wells Fargo & Company raised their price objective on Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, UBS Group upped their target price on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial has an average rating of “Hold” and an average target price of $123.77.

Prudential Financial Price Performance

Shares of PRU opened at $121.28 on Friday. The business’s 50-day moving average is $121.10 and its two-hundred day moving average is $118.32. The company has a market capitalization of $43.30 billion, a P/E ratio of 10.78, a P/E/G ratio of 0.93 and a beta of 1.29. Prudential Financial has a fifty-two week low of $89.90 and a fifty-two week high of $128.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.13 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The company had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period last year, the business earned $3.44 earnings per share. Research analysts predict that Prudential Financial will post 13.32 earnings per share for the current year.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction on Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction on Tuesday, October 8th. The stock was acquired at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Prudential Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Creekmur Asset Management LLC raised its stake in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares during the period. Lynx Investment Advisory acquired a new position in Prudential Financial during the second quarter worth $29,000. Crewe Advisors LLC acquired a new stake in shares of Prudential Financial in the first quarter valued at $33,000. ESL Trust Services LLC purchased a new stake in shares of Prudential Financial in the 1st quarter valued at $34,000. Finally, Bank & Trust Co acquired a new position in Prudential Financial during the 2nd quarter worth about $37,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Company Profile

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.