Prudential Financial (NYSE:PRU) Price Target Raised to $90.00

Prudential Financial (NYSE:PRU) had its price objective lifted by Barclays from $89.00 to $90.00 in a report published on Wednesday morning,Benzinga reports. Barclays currently has an underweight rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on PRU. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $104.00 to $100.00 and set a “market perform” rating on the stock in a research report on Thursday, April 23rd. UBS Group reduced their price target on shares of Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. BMO Capital Markets reduced their price target on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a research report on Thursday, April 23rd. Zacks Research cut shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company cut their target price on shares of Prudential Financial from $95.00 to $93.00 and set an “underweight” rating on the stock in a report on Tuesday. Nine analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $99.92.

Prudential Financial Stock Up 1.3%

Shares of NYSE PRU opened at $100.76 on Wednesday. Prudential Financial has a one year low of $91.89 and a one year high of $119.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The firm’s 50 day simple moving average is $96.87 and its two-hundred day simple moving average is $104.57. The stock has a market capitalization of $34.96 billion, a P/E ratio of 10.37, a PEG ratio of 1.81 and a beta of 0.86.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The business had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $14.10 billion. During the same period last year, the business earned $3.29 earnings per share. As a group, analysts expect that Prudential Financial will post 13.66 EPS for the current fiscal year.

Insider Activity at Prudential Financial

In other news, Director Joseph J. Wolk bought 400 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were purchased at an average price of $105.32 per share, for a total transaction of $42,128.00. Following the completion of the acquisition, the director owned 400 shares of the company’s stock, valued at approximately $42,128. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas D. Stoddard bought 250 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was purchased at an average price of $102.97 per share, for a total transaction of $25,742.50. Following the acquisition, the director directly owned 250 shares of the company’s stock, valued at approximately $25,742.50. The trade was a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.05% of the stock is currently owned by company insiders.

Institutional Trading of Prudential Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jessup Wealth Management Inc purchased a new stake in Prudential Financial in the fourth quarter worth $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in Prudential Financial in the fourth quarter worth $26,000. Salomon & Ludwin LLC lifted its stake in Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 114 shares during the period. Lodestone Wealth Management LLC purchased a new stake in Prudential Financial in the fourth quarter worth $28,000. Finally, Basepoint Wealth LLC purchased a new stake in Prudential Financial in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.