Prudential Financial (NYSE:PRU – Get Free Report) had its price objective decreased by stock analysts at Wells Fargo & Company from $95.00 to $93.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 4.82% from the stock’s previous close.
Several other brokerages have also commented on PRU. Weiss Ratings lowered shares of Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Morgan Stanley reaffirmed an “underweight” rating and set a $92.00 target price (down from $106.00) on shares of Prudential Financial in a research note on Monday. Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Jefferies Financial Group cut shares of Prudential Financial from a “buy” rating to a “hold” rating and lowered their target price for the stock from $124.00 to $98.00 in a research note on Wednesday, April 22nd. Finally, Zacks Research cut shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Nine analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $100.00.
Read Our Latest Research Report on PRU
Prudential Financial Price Performance
Prudential Financial (NYSE:PRU – Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing the consensus estimate of $3.37 by ($0.07). The company had revenue of $14.52 billion during the quarter, compared to analysts’ expectations of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same period in the previous year, the firm posted $2.96 EPS. On average, equities research analysts forecast that Prudential Financial will post 13.86 EPS for the current fiscal year.
Insider Buying and Selling
In other Prudential Financial news, EVP Jacques Chappuis acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was purchased at an average cost of $100.97 per share, with a total value of $100,970.00. Following the transaction, the executive vice president owned 1,000 shares of the company’s stock, valued at $100,970. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph J. Wolk bought 400 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were purchased at an average price of $105.32 per share, with a total value of $42,128.00. Following the completion of the acquisition, the director directly owned 400 shares in the company, valued at $42,128. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 1,650 shares of company stock valued at $168,841. 0.05% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Prudential Financial
A number of hedge funds have recently bought and sold shares of PRU. Norges Bank acquired a new stake in Prudential Financial in the 4th quarter valued at about $140,530,000. Marshall Wace LLP increased its holdings in shares of Prudential Financial by 230.3% in the 4th quarter. Marshall Wace LLP now owns 1,374,966 shares of the financial services provider’s stock valued at $155,206,000 after acquiring an additional 958,672 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Prudential Financial by 183.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 804,316 shares of the financial services provider’s stock valued at $83,440,000 after acquiring an additional 520,425 shares during the last quarter. Morgan Stanley increased its holdings in shares of Prudential Financial by 6.7% in the 4th quarter. Morgan Stanley now owns 6,649,202 shares of the financial services provider’s stock valued at $750,562,000 after acquiring an additional 420,081 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Prudential Financial by 209.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 520,025 shares of the financial services provider’s stock valued at $55,871,000 after acquiring an additional 351,849 shares during the last quarter. Institutional investors and hedge funds 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.
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