Analysts Set Prudential Financial, Inc. (NYSE:PRU) Target Price at $126.33

Prudential Financial, Inc. (NYSE:PRU) has been assigned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $127.17.

PRU has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler increased their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. TD Cowen raised their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Barclays increased their price target on Prudential Financial from $119.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Wells Fargo & Company boosted their price objective on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Prudential Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its position in shares of Prudential Financial by 29.2% in the second quarter. Van ECK Associates Corp now owns 11,775 shares of the financial services provider’s stock valued at $1,380,000 after purchasing an additional 2,663 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Prudential Financial by 5.6% in the second quarter. Foundations Investment Advisors LLC now owns 3,941 shares of the financial services provider’s stock worth $462,000 after buying an additional 208 shares during the period. Larson Financial Group LLC lifted its holdings in Prudential Financial by 66.5% in the 2nd quarter. Larson Financial Group LLC now owns 606 shares of the financial services provider’s stock worth $71,000 after buying an additional 242 shares during the period. TD Asset Management Inc raised its holdings in Prudential Financial by 55.4% in the 2nd quarter. TD Asset Management Inc now owns 209,395 shares of the financial services provider’s stock worth $24,539,000 after purchasing an additional 74,665 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Prudential Financial by 18.5% during the 2nd quarter. Victory Capital Management Inc. now owns 401,045 shares of the financial services provider’s stock worth $46,998,000 after acquiring an additional 62,487 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $119.07 on Friday. The stock has a market cap of $42.39 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 0.87 and a beta of 1.31. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial has a twelve month low of $100.60 and a twelve month high of $130.55. The company’s fifty day moving average is $122.90 and its 200 day moving average is $120.70.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the previous year, the company earned $3.44 EPS. Sell-side analysts forecast that Prudential Financial will post 13.35 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is currently 46.22%.

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.