Prudential Financial (NYSE:PRU – Get Free Report) had its target price lowered by investment analysts at JPMorgan Chase & Co. from $131.00 to $127.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 10.49% from the company’s current price.
Other research analysts also recently issued research reports about the company. TD Cowen upped their price objective on Prudential Financial from $102.00 to $114.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Barclays boosted their price target on shares of Prudential Financial from $92.00 to $96.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 7th. Wells Fargo & Company cut their price target on Prudential Financial from $110.00 to $104.00 and set an “underweight” rating on the stock in a research note on Monday. Mizuho set a $108.00 price target on Prudential Financial in a research report on Monday. Finally, Keefe, Bruyette & Woods upped their price objective on Prudential Financial from $113.00 to $123.00 and gave the company a “market perform” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Prudential Financial currently has a consensus rating of “Reduce” and an average price target of $108.15.
View Our Latest Research Report on Prudential Financial
Prudential Financial Price Performance
Prudential Financial (NYSE:PRU – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. During the same quarter in the prior year, the company earned $3.58 EPS. On average, analysts anticipate that Prudential Financial will post 14.50 earnings per share for the current year.
Insider Buying and Selling
In other news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total value of $5,314,963.50. Following the sale, the insider owned 7,973,657 shares of the company’s stock, valued at $197,348,010.75. The trade was a 2.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ann Kappler sold 7,652 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the transaction, the executive vice president owned 14,407 shares of the company’s stock, valued at $1,801,019.07. The trade was a 34.69% decrease in their position. The SEC filing for this sale provides additional information. 0.05% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of PRU. Archer Investment Corp bought a new position in shares of Prudential Financial in the second quarter valued at $26,000. SJS Investment Consulting Inc. increased its stake in shares of Prudential Financial by 93.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 134 shares during the last quarter. Union Savings Bank acquired a new position in shares of Prudential Financial during the 4th quarter worth about $35,000. Reflection Asset Management bought a new stake in shares of Prudential Financial in the 4th quarter valued at about $39,000. Finally, EFG International AG raised its holdings in shares of Prudential Financial by 452.2% in the 2nd quarter. EFG International AG now owns 381 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 312 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.
Prudential Financial Company Profile
Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in 1875 and headquartered in Newark, New Jersey, the company serves individual, institutional and workplace customers through businesses in the United States and selected international markets.
In the United States, Prudential offers life insurance, annuities, retirement plans and group insurance products, including coverage for employees and their families.
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