Prudential Financial (NYSE:PRU) PT Raised to $123.00 at Morgan Stanley

Prudential Financial (NYSE:PRU) had its price objective upped by investment analysts at Morgan Stanley from $120.00 to $123.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 0.51% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods increased their target price on Prudential Financial from $118.00 to $121.00 and gave the stock a “market perform” rating in a research note on Monday. Jefferies Financial Group cut their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Wells Fargo & Company increased their target price on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. Piper Sandler dropped their price objective 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. Finally, Evercore ISI increased their price objective on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and an average price target of $116.67.

Prudential Financial Price Performance

PRU opened at $122.38 on Wednesday. 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 52-week low of $87.95 and a 52-week high of $122.47. The stock has a market capitalization of $43.93 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 0.88 and a beta of 1.34. The stock’s 50 day moving average price is $117.67 and its 200-day moving average price is $111.80.

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

Insider Transactions at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was 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 $1,426,472.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Robert Falzon sold 130,092 shares of the firm’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 owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial 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 in the company, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Prudential Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Choreo LLC raised its stake in Prudential Financial by 163.5% during the 4th quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock valued at $720,000 after purchasing an additional 4,306 shares during the period. Cullinan Associates Inc. raised its stake in Prudential Financial by 2,355.0% during the 1st quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock valued at $17,798,000 after purchasing an additional 145,423 shares during the period. Greenwood Capital Associates LLC bought a new stake in Prudential Financial during the 4th quarter valued at approximately $1,087,000. Crestline Management LP grew its holdings in Prudential Financial by 50.0% during the 4th quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock valued at $6,223,000 after buying an additional 20,000 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in Prudential Financial during the 4th quarter valued at approximately $761,000. Institutional investors 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.