Prudential Financial (NYSE:PRU) Stock Price Target Lowered at Morgan Stanley

Prudential Financial (NYSE:PRU) had its price target decreased by equities research analysts at Morgan Stanley from $105.00 to $100.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential downside of 12.01% from the stock’s current price.

Several other research firms have also recently weighed in on PRU. Weiss Ratings cut Prudential Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on Prudential Financial from $131.00 to $127.00 and set a “neutral” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods decreased their target price on Prudential Financial from $123.00 to $119.00 and set a “market perform” rating for the company in a report on Friday. Barclays raised their price target on Prudential Financial from $92.00 to $96.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 7th. Finally, Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Monday, September 28th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Reduce” and an average target price of $107.46.

Prudential Financial Trading Down 2.0%

Shares of NYSE:PRU traded down $2.26 during midday trading on Monday, hitting $113.65. 527,959 shares of the stock traded hands, compared to its average volume of 2,015,592. The stock has a market capitalization of $39.21 billion, a PE ratio of 10.30, a P/E/G ratio of 1.72 and a beta of 0.85. The business’s 50 day moving average is $118.45 and its two-hundred day moving average is $110.90. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62. Prudential Financial has a one year low of $91.89 and a one year high of $127.72.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. During the same quarter in the previous year, the business earned $3.58 EPS. As a group, research analysts forecast that Prudential Financial will post 14.47 earnings per share for the current year.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann M. Kappler sold 7,652 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the transaction, the executive vice president owned 14,407 shares in the company, valued at $1,801,019.07. The trade was a 34.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the sale, the insider directly owned 7,973,657 shares in the company, valued at $197,348,010.75. This trade represents a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Orca Investment Management LLC bought a new stake in shares of Prudential Financial during the second quarter valued at approximately $2,605,000. Jones Financial Companies Lllp lifted its position in Prudential Financial by 21.3% in the 2nd quarter. Jones Financial Companies Lllp now owns 58,436 shares of the financial services provider’s stock valued at $6,325,000 after acquiring an additional 10,257 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Prudential Financial by 379.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 619,701 shares of the financial services provider’s stock valued at $66,884,000 after acquiring an additional 490,553 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Prudential Financial by 32.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 28,105 shares of the financial services provider’s stock valued at $3,033,000 after purchasing an additional 6,877 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Prudential Financial by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 739,294 shares of the financial services provider’s stock valued at $79,792,000 after purchasing an additional 19,451 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.