Prudential Financial (NYSE:PRU) Price Target Lowered to $124.00 at Piper Sandler

Prudential Financial (NYSE:PRU) had its target price trimmed by Piper Sandler from $127.00 to $124.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on PRU. Bank of America increased their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. TD Cowen upped their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Jefferies Financial Group increased their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Barclays increased their target price on Prudential Financial from $119.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company lowered their target price on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $127.25.

Prudential Financial Stock Performance

PRU stock opened at $118.98 on Thursday. The business’s fifty day moving average is $122.06 and its 200-day moving average is $120.66. 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 cap of $42.36 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 0.75 and a beta of 1.31. Prudential Financial has a twelve month low of $100.60 and a twelve month high of $130.55.

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 analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the prior year, the business posted $3.44 EPS. Equities research analysts forecast that Prudential Financial will post 13.34 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were paid a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.37%. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Prudential Financial

Several hedge funds have recently bought and sold shares of PRU. Grove Bank & Trust lifted its position in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial during the third quarter worth approximately $31,000. Quarry LP raised its position in shares of Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after buying an additional 222 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Prudential Financial in the fourth quarter valued at approximately $37,000. Finally, Tompkins Financial Corp raised its position in shares of Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after buying an additional 140 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

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.