Jefferies Financial Group Lowers Prudential Financial (NYSE:PRU) Price Target to $141.00

Prudential Financial (NYSE:PRU) had its target price cut by stock analysts at Jefferies Financial Group from $143.00 to $141.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 20.32% from the company’s previous close.

Several other equities analysts have also commented on the company. Piper Sandler reduced their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Keefe, Bruyette & Woods upped their target price on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Morgan Stanley boosted their price target on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Evercore ISI boosted their price target on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company boosted their price target on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $115.08.

Prudential Financial Trading Down 0.1 %

Prudential Financial stock opened at $117.19 on Friday. The stock has a market cap of $42.07 billion, a PE ratio of 19.93, a P/E/G ratio of 0.88 and a beta of 1.35. The stock has a 50-day moving average price of $116.38 and a 200 day moving average price of $110.91. Prudential Financial has a 52 week low of $86.69 and a 52 week high of $121.39. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). The business had revenue of $15.01 billion during 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 firm’s quarterly revenue was up 69.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.66 EPS. Equities research analysts predict that Prudential Financial will post 13.41 earnings per share for the current fiscal year.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the acquisition, the insider now directly owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the stock in a transaction dated Thursday, June 20th. The shares were bought at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the acquisition, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cambridge Trust Co. boosted its stake in Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 105 shares during the period. Creekmur Asset Management LLC increased its stake in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after buying an additional 108 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Prudential Financial in the 4th quarter valued at $26,000. Crewe Advisors LLC bought a new position in shares of Prudential Financial in the 1st quarter worth $33,000. Finally, Headinvest LLC bought a new position in shares of Prudential Financial in the 3rd quarter worth $27,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

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.