Prudential Financial (NYSE:PRU) PT Raised to $128.00 at JPMorgan Chase & Co.

Prudential Financial (NYSE:PRU) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $118.00 to $128.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 8.73% from the stock’s current price.

A number of other brokerages have also issued reports on PRU. Piper Sandler cut their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Wells Fargo & Company upped their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Evercore ISI boosted their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. Keefe, Bruyette & Woods upped their target price on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Finally, Jefferies Financial Group decreased their price target on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $115.92.

Prudential Financial Stock Up 0.2 %

Shares of PRU stock traded up $0.19 on Tuesday, hitting $117.72. The stock had a trading volume of 127,763 shares, compared to its average volume of 1,471,301. The stock’s 50 day moving average is $116.38 and its 200-day moving average is $110.96. The firm has a market capitalization of $42.26 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 0.88 and a beta of 1.34. Prudential Financial has a 52-week low of $87.57 and a 52-week high of $121.39. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The firm had revenue of $15.01 billion during the quarter, compared to analysts’ expectations of $14.50 billion. During the same period in the previous year, the company earned $2.66 earnings per share. The business’s quarterly revenue was up 69.9% on a year-over-year basis. As a group, research analysts expect that Prudential Financial will post 13.41 earnings per share for the current year.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the acquisition, the insider now directly owns 3,883,390 shares in the company, valued at $107,065,062.30. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the purchase, the insider now directly owns 3,883,390 shares in the company, valued at $107,065,062.30. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the sale, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Choreo LLC boosted its position in shares of Prudential Financial by 163.5% during the 4th quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock valued at $720,000 after purchasing an additional 4,306 shares in the last quarter. Greenwood Capital Associates LLC bought a new position in shares of Prudential Financial in the fourth quarter valued at $1,087,000. Crestline Management LP boosted its stake in shares of Prudential Financial by 50.0% during the 4th quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock worth $6,223,000 after acquiring an additional 20,000 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Prudential Financial in the 4th quarter worth $761,000. Finally, Brookstone Capital Management lifted its holdings in shares of Prudential Financial by 1,635.0% during the first quarter. Brookstone Capital Management now owns 87,201 shares of the financial services provider’s stock valued at $10,237,000 after purchasing an additional 82,175 shares during the last quarter. Institutional investors 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.