Prudential Financial (NYSE:PRU) Research Coverage Started at Barclays

Equities research analysts at Barclays initiated coverage on shares of Prudential Financial (NYSE:PRU) in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm set an “equal weight” rating and a $118.00 price target on the financial services provider’s stock. Barclays‘s price objective points to a potential downside of 1.30% from the stock’s previous close.

Several other research firms also recently commented on PRU. Argus upgraded Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. Citigroup increased their price objective on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price target on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Finally, UBS Group lifted their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average target price of $119.23.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $119.55 on Wednesday. Prudential Financial has a 12 month low of $87.95 and a 12 month high of $128.52. The firm has a market capitalization of $42.68 billion, a P/E ratio of 20.33, a P/E/G ratio of 0.94 and a beta of 1.30. The business has a fifty day simple moving average of $118.22 and a two-hundred day simple moving average of $115.56. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.04). The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. On average, equities analysts forecast that Prudential Financial will post 13.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the stock in a transaction dated Thursday, June 20th. The stock was purchased at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Prudential Financial

Hedge funds have recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC lifted its holdings in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after buying an additional 108 shares during the period. Lynx Investment Advisory bought a new stake in Prudential Financial during the second quarter valued at about $29,000. Strategic Financial Concepts LLC raised its holdings in Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 25,027 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Prudential Financial during the 1st quarter worth approximately $33,000. Finally, ESL Trust Services LLC acquired a new stake in shares of Prudential Financial in the first quarter worth $34,000. 56.83% of the stock is currently owned by institutional investors.

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.