Prudential Financial (NYSE:PRU) Price Target Lowered to $115.00 at Wells Fargo & Company

Prudential Financial (NYSE:PRU) had its target price reduced by Wells Fargo & Company from $117.00 to $115.00 in a report issued on Tuesday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the company. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Jefferies Financial Group lifted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Piper Sandler upped their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. TD Cowen lifted their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, Bank of America increased their target price on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Eleven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $127.42.

Prudential Financial Trading Down 1.3 %

Shares of NYSE PRU opened at $118.47 on Tuesday. 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 has a 12 month low of $100.60 and a 12 month high of $130.55. The company has a market cap of $42.17 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 0.75 and a beta of 1.31. The business has a fifty day simple moving average of $122.23 and a 200-day simple moving average of $120.66.

Prudential Financial (NYSE:PRU) last issued its quarterly 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. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the previous year, the company posted $3.44 earnings per share. Sell-side analysts predict that Prudential Financial will post 13.34 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is 46.22%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Prudential Financial

Several large investors have recently modified their holdings of the stock. Grove Bank & Trust boosted its stake in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Prudential Financial during the third quarter valued at $31,000. Quarry LP grew its holdings in shares of Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Prudential Financial during the 4th quarter worth about $37,000. Finally, Tompkins Financial Corp lifted its holdings in Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 140 shares during the last quarter. 56.83% of the stock is currently 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.