Prudential Financial (NYSE:PRU) Stock Gets Price Target Cut from Mizuho

Prudential Financial (NYSE:PRU – Free Report) had its price objective cut by Mizuho from $113.00 to $109.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

PRU has been the subject of a number of other research reports. TD Cowen boosted their price target on Prudential Financial from $102.00 to $114.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group increased their price objective on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Piper Sandler boosted their target price on shares of Prudential Financial from $110.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Morgan Stanley upped their price target on shares of Prudential Financial from $92.00 to $105.00 and gave the stock an “underweight” rating in a report on Monday, August 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $129.00 to $131.00 and gave the stock a “neutral” rating in a research report on Monday, August 17th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial presently has an average rating of “Reduce” and a consensus price target of $109.62.

Read Our Latest Analysis on Prudential Financial

Prudential Financial Price Performance

Prudential Financial stock opened at $113.09 on Wednesday. The stock’s fifty day moving average price is $119.18 and its two-hundred day moving average price is $110.08. Prudential Financial has a one year low of $91.89 and a one year high of $127.72. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market cap of $39.02 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 1.70 and a beta of 0.85.

Prudential Financial (NYSE:PRU – Get Free Report) last released its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%. During the same period in the prior year, the company posted $3.58 EPS. As a group, research analysts expect that Prudential Financial will post 14.54 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $5.60 annualized dividend and a yield of 5.0%. Prudential Financial’s payout ratio is presently 50.72%.

Insider Buying and Selling

In other news, EVP Ann Kappler sold 7,652 shares of the firm’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 sale, the executive vice president directly owned 14,407 shares in the company, valued at approximately $1,801,019.07. This trade represents a 34.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the transaction, the insider owned 7,973,657 shares of the company’s stock, valued at approximately $197,348,010.75. This represents a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Prudential Financial during the 2nd quarter worth $3,507,481,000. State Street Corp boosted its stake in shares of Prudential Financial by 1.2% during the second quarter. State Street Corp now owns 17,164,760 shares of the financial services provider’s stock valued at $1,852,593,000 after purchasing an additional 209,179 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Prudential Financial by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,758,545 shares of the financial services provider’s stock worth $367,089,000 after purchasing an additional 166,641 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Prudential Financial by 95.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,556,748 shares of the financial services provider’s stock valued at $249,769,000 after buying an additional 1,247,371 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Prudential Financial in the 2nd quarter valued at approximately $209,055,000. 56.83% of the stock is currently owned by institutional investors.

Key Headlines Impacting Prudential Financial

Here are the key news stories impacting Prudential Financial this week:

Prudential Financial Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Prudential Financial (NYSE:PRU)

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