Prudential Financial (NYSE:PRU) PT Lowered to $122.00 at Morgan Stanley

Prudential Financial (NYSE:PRU) had its target price reduced by Morgan Stanley from $123.00 to $122.00 in a research report released on Monday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the company. Jefferies Financial Group cut their price target on Prudential Financial from $143.00 to $141.00 and set a buy rating on the stock in a report on Friday, June 28th. Piper Sandler reduced their price target on shares of Prudential Financial from $125.00 to $121.00 and set a neutral rating for the company in a report on Monday, May 6th. Argus raised shares of Prudential Financial to a strong-buy rating in a report on Thursday, August 8th. Wells Fargo & Company raised shares of Prudential Financial from an underweight rating to an equal weight rating and set a $113.00 target price for the company in a research note on Monday, August 12th. Finally, UBS Group increased their price objective on Prudential Financial from $112.00 to $119.00 and gave the stock a neutral rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial currently has a consensus rating of Hold and an average target price of $119.33.

Prudential Financial Trading Up 1.0 %

Prudential Financial stock opened at $114.37 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial has a 1 year low of $87.95 and a 1 year high of $128.52. The firm’s 50-day moving average is $117.69 and its 200-day moving average is $114.69. The company has a market cap of $41.06 billion, a P/E ratio of 19.45, a PEG ratio of 0.86 and a beta of 1.34.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.55%. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the transaction, the insider now directly owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Prudential Financial

A number of hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC increased its holdings in shares of Prudential Financial by 25.6% in the 4th quarter. Lindbrook Capital LLC now owns 1,424 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 290 shares during the period. CWM LLC lifted its position in Prudential Financial by 4.6% in the 4th quarter. CWM LLC now owns 10,977 shares of the financial services provider’s stock worth $1,138,000 after buying an additional 480 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Prudential Financial by 33.9% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 3,810 shares of the financial services provider’s stock valued at $396,000 after acquiring an additional 964 shares in the last quarter. Capital Investment Advisory Services LLC increased its stake in shares of Prudential Financial by 2.6% in the fourth quarter. Capital Investment Advisory Services LLC now owns 6,788 shares of the financial services provider’s stock worth $704,000 after acquiring an additional 171 shares during the last quarter. Finally, Foster & Motley Inc. raised its holdings in shares of Prudential Financial by 36.6% during the fourth quarter. Foster & Motley Inc. now owns 44,041 shares of the financial services provider’s stock worth $4,567,000 after acquiring an additional 11,791 shares in the last quarter. Hedge funds and other 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.