Prudential Financial (NYSE:PRU) Stock Gets Price Target Bump from Piper Sandler

Prudential Financial (NYSE:PRU – Get Free Report) had its price target lifted by Piper Sandler from $120.00 to $133.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler‘s price target would suggest a potential upside of 11.43% from the company’s previous close.

PRU has been the topic of a number of other reports. Jefferies Financial Group dropped their target price on shares of Prudential Financial from $116.00 to $109.00 and set a “buy” rating on the stock in a report on Monday, October 12th. BMO Capital Markets raised their target price on shares of Prudential Financial from $90.00 to $120.00 and gave the stock an “underperform” rating in a report on Friday, August 21st. Weiss Ratings lowered shares of Prudential Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Wells Fargo & Company decreased their price target on shares of Prudential Financial from $104.00 to $103.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 28th. Finally, Evercore dropped their price target on Prudential Financial from $110.00 to $106.00 in a report on Friday, October 9th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $112.40.

Get Our Latest Research Report on PRU

Prudential Financial Price Performance

Prudential Financial stock traded down $3.10 during midday trading on Thursday, hitting $119.36. The company’s stock had a trading volume of 2,082,336 shares, compared to its average volume of 1,705,684. Prudential Financial has a 12 month low of $91.89 and a 12 month high of $128.78. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $41.18 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 1.98 and a beta of 0.85. The stock’s 50-day moving average price is $116.98 and its 200-day moving average price is $108.97.

Prudential Financial (NYSE:PRU – Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.44. The company had revenue of $14.45 billion during the quarter, compared to analyst estimates of $14.66 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same quarter last year, the firm posted $4.26 EPS. Analysts anticipate that Prudential Financial will post 13.51 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Ann Kappler sold 7,652 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the sale, the executive vice president owned 14,407 shares in the company, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Prudential Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Archer Investment Corp purchased a new position in Prudential Financial during the 2nd quarter worth approximately $26,000. Team Financial Group LLC purchased a new stake in shares of Prudential Financial in the third quarter valued at $27,000. Heritage Family Offices LLP purchased a new stake in shares of Prudential Financial in the third quarter valued at $33,000. MADDEN SECURITIES Corp purchased a new stake in shares of Prudential Financial in the third quarter valued at $38,000. Finally, Center for Financial Planning Inc. boosted its position in shares of Prudential Financial by 90.4% in the third quarter. Center for Financial Planning Inc. now owns 339 shares of the financial services provider’s stock worth $39,000 after buying an additional 161 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Company Profile

(Get Free Report)

Prudential Financial, Inc is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services.

The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors.

Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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