Prudential Financial (NYSE:PRU) Given New $116.00 Price Target at Wells Fargo & Company

Prudential Financial (NYSE:PRU) had its price objective increased by investment analysts at Wells Fargo & Company from $113.00 to $116.00 in a report released on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 4.93% from the company’s current price.

A number of other brokerages have also weighed in on PRU. TD Cowen assumed coverage on Prudential Financial in a research note on Wednesday. They issued a “hold” rating and a $130.00 target price for the company. Citigroup raised their price target on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Barclays assumed coverage on Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price target on the stock. Jefferies Financial Group decreased their price target on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, UBS Group raised their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average target price of $124.17.

Prudential Financial Price Performance

Shares of NYSE:PRU traded down $0.11 during midday trading on Thursday, reaching $122.01. The company’s stock had a trading volume of 182,771 shares, compared to its average volume of 1,491,171. Prudential Financial has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The company has a market capitalization of $43.80 billion, a P/E ratio of 20.75, a P/E/G ratio of 0.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The business’s fifty day simple moving average is $116.68 and its 200-day simple moving average is $117.06.

Prudential Financial (NYSE:PRU) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. As a group, equities research analysts expect that Prudential Financial will post 13.29 EPS for the current fiscal year.

Insider Activity at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Prudential Financial

A number of large investors have recently bought and sold shares of the company. Annex Advisory Services LLC boosted its position in Prudential Financial by 3.4% during the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 81 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Prudential Financial by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock worth $951,000 after purchasing an additional 87 shares in the last quarter. Peoples Bank OH raised its stake in shares of Prudential Financial by 2.3% during the 1st quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 90 shares in the last quarter. Quotient Wealth Partners LLC raised its stake in shares of Prudential Financial by 3.9% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 92 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Prudential Financial by 1.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock worth $875,000 after purchasing an additional 94 shares in the last quarter. 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.