Piper Sandler Increases Prudential Financial (NYSE:PRU) Price Target to $127.00

Prudential Financial (NYSE:PRU) had its target price upped by investment analysts at Piper Sandler from $121.00 to $127.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 6.81% from the company’s current price.

Other research analysts also recently issued reports about the stock. Morgan Stanley cut their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Barclays assumed coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group cut their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average price target of $121.33.

Prudential Financial Stock Down 0.0 %

Shares of NYSE PRU opened at $118.90 on Wednesday. The firm’s 50-day simple moving average is $116.95 and its 200 day simple moving average is $116.84. The company has a market cap of $42.69 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial has a 12-month low of $87.95 and a 12-month high of $128.52.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. On average, research analysts expect that Prudential Financial will post 13.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the firm’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 directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Prudential Financial

Several large investors have recently made changes to their positions in PRU. Jones Financial Companies Lllp lifted its holdings in Prudential Financial by 1,261.2% during the 4th quarter. Jones Financial Companies Lllp now owns 1,157 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 1,072 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Prudential Financial by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 271,480 shares of the financial services provider’s stock valued at $28,155,000 after purchasing an additional 2,661 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in Prudential Financial by 6.0% during the 4th quarter. CWA Asset Management Group LLC now owns 2,983 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 169 shares during the last quarter. NEOS Investment Management LLC lifted its holdings in Prudential Financial by 36.7% during the 4th quarter. NEOS Investment Management LLC now owns 5,113 shares of the financial services provider’s stock valued at $530,000 after purchasing an additional 1,374 shares during the last quarter. Finally, Lake Street Advisors Group LLC acquired a new stake in Prudential Financial during the 4th quarter valued at $289,000. Institutional investors and hedge funds 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.