Barclays Has Lowered Expectations for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its price target lowered by research analysts at Barclays from $134.00 to $106.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential upside of 7.39% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Piper Sandler decreased their price target on shares of Prudential Financial from $124.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. BMO Capital Markets started coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price on the stock. Morgan Stanley dropped their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. UBS Group dropped their price target on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company lowered their target price on shares of Prudential Financial from $118.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $122.77.

Prudential Financial Stock Up 0.2 %

PRU traded up $0.22 on Friday, hitting $98.70. The company had a trading volume of 1,930,519 shares, compared to its average volume of 1,597,603. Prudential Financial has a 12-month low of $90.38 and a 12-month high of $130.55. The stock has a fifty day moving average price of $109.36 and a 200-day moving average price of $117.72. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $34.98 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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%. Analysts predict that Prudential Financial will post 14.36 EPS for the current fiscal year.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 25th. The shares were purchased at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the transaction, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. This represents a 60.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Prudential Financial

Hedge funds have recently modified their holdings of the business. Joule Financial LLC raised its holdings in shares of Prudential Financial by 8.0% in the 1st quarter. Joule Financial LLC now owns 9,073 shares of the financial services provider’s stock valued at $1,013,000 after buying an additional 675 shares during the period. Procyon Advisors LLC increased its stake in Prudential Financial by 4.3% during the first quarter. Procyon Advisors LLC now owns 28,282 shares of the financial services provider’s stock worth $3,159,000 after purchasing an additional 1,153 shares during the period. Hudson Capital Management LLC lifted its position in shares of Prudential Financial by 3.7% during the first quarter. Hudson Capital Management LLC now owns 40,728 shares of the financial services provider’s stock worth $4,548,000 after purchasing an additional 1,438 shares in the last quarter. Curat Global LLC acquired a new position in shares of Prudential Financial in the first quarter valued at approximately $686,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Prudential Financial by 27.1% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,454 shares of the financial services provider’s stock valued at $163,000 after buying an additional 310 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

About Prudential Financial

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.