Prudential Financial (NYSE:PRU) Rating Lowered to Sell at Wall Street Zen

Prudential Financial (NYSE:PRU) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Several other brokerages have also recently issued reports on PRU. Morgan Stanley lifted their price objective on Prudential Financial from $108.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. UBS Group decreased their target price on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research report on Tuesday, May 27th. Barclays reduced their price target on Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Wells Fargo & Company upped their price objective on Prudential Financial from $108.00 to $113.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Finally, Piper Sandler dropped their price target on Prudential Financial from $110.00 to $109.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average target price of $120.15.

Prudential Financial Stock Performance

NYSE PRU opened at $105.82 on Friday. The stock has a fifty day simple moving average of $102.49 and a 200-day simple moving average of $111.60. Prudential Financial has a twelve month low of $90.38 and a twelve month high of $130.55. The stock has a market cap of $37.46 billion, a PE ratio of 14.17, a P/E/G ratio of 0.98 and a beta of 1.07. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.11. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The business’s quarterly revenue was down 38.2% on a year-over-year basis. During the same quarter last year, the company earned $3.12 EPS. Equities analysts anticipate that Prudential Financial will post 14.36 earnings per share for the current year.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. The trade was a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the stock in a transaction on Tuesday, March 25th. The stock was purchased at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the purchase, the insider now owns 139,987 shares of the company’s stock, valued at approximately $3,992,429.24. This trade represents a 60.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Prudential Financial

A number of institutional investors have recently added to or reduced their stakes in PRU. 1248 Management LLC purchased a new position in shares of Prudential Financial in the 1st quarter worth about $61,000. Strs Ohio bought a new position in Prudential Financial during the 1st quarter valued at approximately $2,150,000. Jacobi Capital Management LLC lifted its stake in shares of Prudential Financial by 4.1% in the 1st quarter. Jacobi Capital Management LLC now owns 11,409 shares of the financial services provider’s stock valued at $1,274,000 after purchasing an additional 449 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Prudential Financial by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider’s stock valued at $12,217,000 after purchasing an additional 3,183 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Prudential Financial by 5.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,299 shares of the financial services provider’s stock valued at $703,000 after purchasing an additional 321 shares during the period. 56.83% of the stock is currently owned by 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.