Barclays Has Lowered Expectations for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its target price reduced by research analysts at Barclays from $129.00 to $127.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 6.74% from the company’s previous close.

Several other equities analysts have also commented on PRU. Wells Fargo & Company lowered their price objective on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods lowered their price objective on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. TD Cowen increased their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Finally, Bank of America increased their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $127.25.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $118.98 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a fifty day moving average price of $122.06 and a 200 day moving average price of $120.66. Prudential Financial has a fifty-two week low of $100.60 and a fifty-two week high of $130.55. The firm has a market cap of $42.36 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 0.75 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the business earned $3.44 earnings per share. As a group, sell-side analysts expect that Prudential Financial will post 13.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Grove Bank & Trust increased its position in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the period. Ashton Thomas Securities LLC purchased a new position in Prudential Financial during the 3rd quarter valued at about $31,000. Quarry LP increased its position in Prudential Financial by 376.3% during the 3rd 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. Retirement Wealth Solutions LLC purchased a new position in Prudential Financial during the 4th quarter valued at about $37,000. Finally, 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 valued at $44,000 after buying an additional 140 shares in the last quarter. 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.