Prudential Financial (NYSE:PRU) PT Raised to $128.00

Prudential Financial (NYSE:PRU) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $118.00 to $128.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 8.01% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Piper Sandler reduced their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Wells Fargo & Company increased their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods increased their target price on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Jefferies Financial Group cut their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Evercore ISI increased their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $115.92.

Prudential Financial Price Performance

PRU opened at $118.51 on Tuesday. The firm has a market cap of $42.55 billion, a P/E ratio of 20.16, a PEG ratio of 0.88 and a beta of 1.34. The firm has a 50-day moving average of $116.63 and a 200 day moving average of $111.15. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial has a fifty-two week low of $87.57 and a fifty-two week high of $121.39.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.04). The company had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. Prudential Financial’s quarterly revenue was up 69.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.66 EPS. On average, research analysts expect that Prudential Financial will post 13.41 EPS for the current year.

Insider Activity at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was bought at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the purchase, the insider now directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PRU. Cambridge Trust Co. grew its position in Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in Prudential Financial during the fourth quarter valued at approximately $26,000. Headinvest LLC bought a new position in Prudential Financial during the third quarter valued at approximately $27,000. Creekmur Asset Management LLC grew its position in Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares during the last quarter. Finally, Arlington Trust Co LLC grew its holdings in shares of Prudential Financial by 151.6% in the fourth 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. 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.