Prudential Financial (NYSE:PRU) Given New $116.00 Price Target at Evercore ISI

Prudential Financial (NYSE:PRU) had its price objective increased by Evercore ISI from $115.00 to $116.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an underperform rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on PRU. JPMorgan Chase & Co. restated a neutral rating and issued a $118.00 target price (down previously from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Piper Sandler raised their target price on shares of Prudential Financial from $114.00 to $125.00 and gave the stock a neutral rating in a report on Friday, April 5th. Morgan Stanley raised their price target on Prudential Financial from $109.00 to $117.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. TheStreet raised Prudential Financial from a c+ rating to an a- rating in a research note on Tuesday, February 6th. Finally, Keefe, Bruyette & Woods raised their price target on Prudential Financial from $112.00 to $118.00 and gave the stock a market perform rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat.com, Prudential Financial currently has a consensus rating of Hold and an average target price of $111.42.

Prudential Financial Stock Down 1.4 %

PRU stock opened at $111.18 on Thursday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $111.68 and its 200 day moving average is $103.61. The stock has a market cap of $39.91 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 0.76 and a beta of 1.37. Prudential Financial has a 1-year low of $77.22 and a 1-year high of $118.69.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The business had revenue of $13.02 billion for the quarter, compared to the consensus estimate of $12.99 billion. During the same quarter in the previous year, the business earned $2.42 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Sell-side analysts predict that Prudential Financial will post 13.38 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.68%. The ex-dividend date was Friday, February 16th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s payout ratio is currently 77.73%.

Insider Transactions at Prudential Financial

In other news, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the transaction, the senior vice president now owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the sale, the senior vice president now directly owns 7,901 shares in the company, valued at approximately $883,805.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the sale, the executive vice president now owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock valued at $3,215,664 in the last quarter. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Cambridge Trust Co. raised its holdings in shares of Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Prudential Financial during the 4th quarter worth $26,000. Headinvest LLC bought a new position in shares of Prudential Financial during the 3rd quarter worth $27,000. Arlington Trust Co LLC lifted its stake in shares of Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Pineridge Advisors LLC purchased a new stake in shares of Prudential Financial during the 4th quarter worth $36,000. 56.83% of the stock is 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.