Morgan Stanley Lowers Prudential Financial (NYSE:PRU) Price Target to $128.00

Prudential Financial (NYSE:PRU) had its price target cut by Morgan Stanley from $136.00 to $128.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other research analysts also recently commented on PRU. Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Jefferies Financial Group increased their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. BMO Capital Markets assumed coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. Finally, TD Cowen upped their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average price target of $126.15.

Prudential Financial Stock Performance

NYSE PRU opened at $115.07 on Friday. The firm has a 50-day moving average price of $116.35 and a two-hundred day moving average price of $119.77. Prudential Financial has a 12-month low of $104.44 and a 12-month high of $130.55. The company has a market capitalization of $41.20 billion, a P/E ratio of 15.40, a P/E/G ratio of 0.98 and a beta of 1.31. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Analysts anticipate that Prudential Financial will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s payout ratio is 72.29%.

Institutional Investors Weigh In On Prudential Financial

Hedge funds have recently added to or reduced their stakes in the business. Grove Bank & Trust raised its stake in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Prudential Financial in the fourth quarter valued at $29,000. Ashton Thomas Securities LLC bought a new position in Prudential Financial during the 3rd quarter worth $31,000. CGC Financial Services LLC lifted its holdings in Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after buying an additional 124 shares during the period. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial in the 4th quarter valued at about $33,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

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.