Prudential Financial (NYSE:PRU) Price Target Cut to $125.00 by Analysts at Keefe, Bruyette & Woods

Prudential Financial (NYSE:PRU) had its target price decreased by stock analysts at Keefe, Bruyette & Woods from $129.00 to $125.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 11.92% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Piper Sandler reduced their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group increased their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Barclays raised their target price on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Finally, BMO Capital Markets initiated coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $125.46.

Prudential Financial Stock Performance

Shares of PRU stock opened at $111.68 on Wednesday. The company has a fifty day moving average price of $119.08 and a two-hundred day moving average price of $120.16. Prudential Financial has a one year low of $104.02 and a one year high of $130.55. The stock has a market cap of $39.76 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.14.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, equities analysts predict that Prudential Financial will post 14.38 EPS for the current year.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the stock in a transaction on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Several large investors have recently made changes to their positions in the business. Grove Bank & Trust increased its holdings in shares of Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Prudential Financial during the 4th quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new stake in Prudential Financial in the 3rd quarter worth approximately $31,000. CGC Financial Services LLC raised its holdings in shares of Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Prudential Financial during the 4th quarter valued at approximately $33,000. 56.83% of the stock is currently owned by hedge funds and other 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.