Prudential Financial (NYSE:PRU) Price Target Raised to $128.00 at Barclays

Prudential Financial (NYSE:PRU) had its price objective increased by research analysts at Barclays from $127.00 to $128.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 9.11% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company cut their price target on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Bank of America lifted their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods cut their price objective on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research report on Thursday, January 16th. TD Cowen upped their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Finally, BMO Capital Markets assumed coverage on Prudential Financial in a research report on Thursday. They set an “underperform” rating and a $101.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.31.

Prudential Financial Stock Performance

NYSE:PRU opened at $117.32 on Thursday. Prudential Financial has a fifty-two week low of $100.60 and a fifty-two week high of $130.55. The firm’s 50 day moving average is $121.68 and its two-hundred day moving average is $120.69. The company has a market cap of $41.76 billion, a P/E ratio of 10.43, a P/E/G ratio of 1.11 and a beta of 1.31. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter last year, the firm earned $3.44 earnings per share. Analysts expect that Prudential Financial will post 13.26 EPS for the current year.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Prudential Financial

Institutional investors have recently made changes to their positions in the stock. Sei Investments Co. increased its position in Prudential Financial by 14.4% in the second quarter. Sei Investments Co. now owns 66,187 shares of the financial services provider’s stock worth $7,757,000 after buying an additional 8,334 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Prudential Financial by 20.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 298 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Prudential Financial by 59.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 68,757 shares of the financial services provider’s stock valued at $8,058,000 after purchasing an additional 25,521 shares during the period. AlTi Global Inc. grew its position in Prudential Financial by 9.2% in the 2nd quarter. AlTi Global Inc. now owns 3,381 shares of the financial services provider’s stock worth $396,000 after purchasing an additional 285 shares during the last quarter. Finally, AXA S.A. increased its stake in shares of Prudential Financial by 2.5% in the second quarter. AXA S.A. now owns 43,644 shares of the financial services provider’s stock valued at $5,115,000 after purchasing an additional 1,077 shares during the period. 56.83% of the stock is 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.