Piper Sandler Cuts Prudential Financial (NYSE:PRU) Price Target to $121.00

Prudential Financial (NYSE:PRU) had its price target reduced by Piper Sandler from $125.00 to $121.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group upped their price objective on shares of Prudential Financial from $108.00 to $112.00 and gave the company a neutral rating in a research note on Monday, February 12th. Wells Fargo & Company lifted their price objective on Prudential Financial from $100.00 to $106.00 and gave the stock an underweight rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods increased their target price on Prudential Financial from $112.00 to $118.00 and gave the company a market perform rating in a report on Wednesday, April 10th. TheStreet upgraded Prudential Financial from a c+ rating to an a- rating in a research report on Tuesday, February 6th. Finally, Raymond James downgraded shares of Prudential Financial from a strong-buy rating to a market perform rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of Hold and a consensus target price of $111.08.

Prudential Financial Trading Up 1.1 %

NYSE PRU opened at $117.97 on Monday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The stock’s 50-day simple moving average is $112.65 and its two-hundred day simple moving average is $104.87. Prudential Financial has a twelve month low of $77.87 and a twelve month high of $118.69. The company has a market capitalization of $42.35 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 0.83 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The firm had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The business’s quarterly revenue was up 69.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.66 earnings per share. Research analysts forecast that Prudential Financial will post 13.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $5.20 annualized dividend and a yield of 4.41%. Prudential Financial’s payout ratio is 88.44%.

Insiders Place Their Bets

In related news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the sale, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the sale, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the transaction, the senior vice president now owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,444 shares of company stock worth $3,820,597. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Prudential Financial

A number of institutional investors and hedge funds have recently bought and sold shares of PRU. Peoples Bank OH increased its position in shares of Prudential Financial by 2.3% during the first quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 90 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Prudential Financial by 1.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock worth $875,000 after purchasing an additional 94 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Prudential Financial by 38.6% in the first quarter. Bruce G. Allen Investments LLC now owns 352 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 98 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of Prudential Financial by 2.0% during the first quarter. Checchi Capital Advisers LLC now owns 4,932 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 99 shares in the last quarter. Finally, First Financial Corp IN boosted its position in shares of Prudential Financial by 13.7% during the fourth quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock valued at $88,000 after buying an additional 102 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.