TD Cowen Raises Prudential Financial (NYSE:PRU) Price Target to $133.00

Prudential Financial (NYSE:PRU) had its price objective increased by TD Cowen from $130.00 to $133.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price target indicates a potential upside of 2.67% from the stock’s current price.

A number of other research analysts have also recently issued reports on PRU. Bank of America lifted their price objective 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. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Morgan Stanley cut their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Piper Sandler boosted their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Barclays boosted their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Eleven analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average target price of $125.92.

Prudential Financial Stock Up 0.3 %

PRU traded up $0.43 during midday trading on Wednesday, hitting $129.54. The company had a trading volume of 274,818 shares, compared to its average volume of 1,495,969. Prudential Financial has a 52 week low of $95.10 and a 52 week high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $46.12 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 0.91 and a beta of 1.29. The stock’s 50 day moving average price is $123.72 and its 200 day moving average price is $119.89.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the previous year, the firm posted $3.44 earnings per share. On average, research analysts anticipate that Prudential Financial will post 13.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 6.61 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Prudential Financial

Institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. boosted its position in Prudential Financial by 4.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock valued at $19,701,000 after buying an additional 6,641 shares during the period. ORG Partners LLC purchased a new stake in Prudential Financial during the 2nd quarter valued at $156,000. PGGM Investments boosted its position in Prudential Financial by 98.0% during the 2nd quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock valued at $7,533,000 after buying an additional 31,807 shares during the period. Janus Henderson Group PLC boosted its position in Prudential Financial by 49.5% during the 1st quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock valued at $9,409,000 after buying an additional 26,520 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new stake in Prudential Financial during the 2nd quarter valued at $530,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

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.