Prudential Financial (NYSE:PRU) Given New $127.00 Price Target at Piper Sandler

Prudential Financial (NYSE:PRU) had its price objective upped by analysts at Piper Sandler from $121.00 to $127.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 6.40% from the stock’s previous close.

A number of other research analysts have also weighed in on PRU. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective on the stock in a report on Monday, August 12th. Barclays began coverage on Prudential Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price target for the company. UBS Group raised their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Citigroup upped their price objective on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus target price of $121.33.

Prudential Financial Stock Down 1.4 %

Prudential Financial stock opened at $119.36 on Wednesday. The company has a market capitalization of $42.85 billion, a PE ratio of 20.30, a PEG ratio of 0.95 and a beta of 1.30. Prudential Financial has a 12-month low of $87.95 and a 12-month high of $128.52. The firm’s fifty day moving average is $117.12 and its 200 day moving average is $116.81. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. As a group, sell-side analysts predict that Prudential Financial will post 13.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Prudential Financial

A number of hedge funds have recently modified their holdings of PRU. Creekmur Asset Management LLC lifted its position in Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares in the last quarter. Lynx Investment Advisory bought a new stake in Prudential Financial during the 2nd quarter valued at approximately $29,000. Strategic Financial Concepts LLC lifted its holdings in shares of Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after buying an additional 25,027 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Prudential Financial during the 1st quarter valued at about $33,000. Finally, ESL Trust Services LLC bought a new position in Prudential Financial during the first quarter valued at approximately $34,000. Institutional investors own 56.83% of the company’s stock.

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.