Evercore ISI Upgrades Prudential Financial (NYSE:PRU) to “Inline”

Prudential Financial (NYSE:PRU) was upgraded by stock analysts at Evercore ISI from an “underperform” rating to an “inline” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm currently has a $140.00 price objective on the financial services provider’s stock, up from their previous price objective of $117.00. Evercore ISI’s price objective indicates a potential upside of 9.88% from the company’s current price.

PRU has been the topic of a number of other reports. Wells Fargo & Company boosted their price objective on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Morgan Stanley cut their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Piper Sandler upped their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Barclays raised their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $125.69.

Prudential Financial Price Performance

Prudential Financial stock opened at $127.41 on Thursday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The business’s 50 day simple moving average is $121.92 and its 200 day simple moving average is $119.11. Prudential Financial has a 12 month low of $93.32 and a 12 month high of $129.13. The company has a market cap of $45.36 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 0.89 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates 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 last year, the firm posted $3.44 EPS. Sell-side analysts forecast that Prudential Financial will post 13.33 EPS for the current year.

Insider Activity

In related news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. This represents a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

A number of large investors have recently bought and sold shares of PRU. Annex Advisory Services LLC grew its holdings in shares of Prudential Financial by 3.4% in the second quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 81 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Prudential Financial by 1.1% in the second quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock valued at $951,000 after acquiring an additional 87 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in shares of Prudential Financial by 1.2% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 89 shares during the period. Quotient Wealth Partners LLC grew its stake in shares of Prudential Financial by 3.9% in the second 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 during the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its holdings in Prudential Financial by 4.6% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,131 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 94 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

About Prudential Financial

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.