Brokerages Set Prudential Financial, Inc. (NYSE:PRU) Target Price at $126.33

Prudential Financial, Inc. (NYSE:PRU) has earned an average recommendation of “Hold” from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. Eleven research 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. The average 1 year price target among analysts that have issued a report on the stock in the last year is $126.33.

Several equities analysts have recently weighed in on PRU shares. Morgan Stanley lowered their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. TD Cowen lifted their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and raised their target price for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Piper Sandler boosted their price target on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st.

Prudential Financial Stock Down 0.1 %

PRU opened at $120.48 on Wednesday. Prudential Financial has a twelve month low of $100.60 and a twelve month high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average price of $125.04 and a 200-day moving average price of $120.44. The stock has a market capitalization of $42.89 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 0.86 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the prior year, the firm earned $3.44 EPS. Equities research analysts forecast that Prudential Financial will post 13.35 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.32%. Prudential Financial’s payout ratio is 46.22%.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

A number of hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new stake in shares of Prudential Financial during the 3rd quarter valued at about $31,000. Quarry LP raised its position in Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Prudential Financial in the 2nd quarter valued at approximately $38,000. Tompkins Financial Corp boosted its holdings in shares of Prudential Financial by 61.7% in the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares during the period. Finally, GHP Investment Advisors Inc. raised its holdings in Prudential Financial by 235.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock valued at $46,000 after buying an additional 266 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

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.