Prudential Financial (NYSE:PRU) Price Target Lowered to $127.00 at Barclays

Prudential Financial (NYSE:PRU) had its price objective decreased by analysts at Barclays from $129.00 to $127.00 in a report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target suggests a potential upside of 6.46% from the company’s previous close.

Several other research firms have also recently weighed in on PRU. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Jefferies Financial Group boosted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler lowered their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday. Wells Fargo & Company cut their price objective on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average price target of $127.25.

Prudential Financial Stock Performance

PRU stock traded up $0.89 during midday trading on Friday, reaching $119.29. 648,300 shares of the company were exchanged, compared to its average volume of 1,357,587. Prudential Financial has a one year low of $100.60 and a one year high of $130.55. The firm has a market capitalization of $42.47 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 0.75 and a beta of 1.31. The business has a 50-day moving average price of $122.23 and a two-hundred day moving average price of $120.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the previous year, the firm posted $3.44 EPS. Equities research analysts forecast that Prudential Financial will post 13.34 EPS for the current year.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by insiders.

Institutional Trading of Prudential Financial

A number of hedge funds and other institutional investors have recently modified their holdings of PRU. Edgestream Partners L.P. acquired a new position in Prudential Financial in the 2nd quarter worth about $258,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of Prudential Financial by 0.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 34,074 shares of the financial services provider’s stock worth $3,993,000 after purchasing an additional 291 shares during the last quarter. Blair William & Co. IL raised its holdings in Prudential Financial by 148.4% in the 2nd quarter. Blair William & Co. IL now owns 26,585 shares of the financial services provider’s stock valued at $3,116,000 after buying an additional 15,884 shares during the last quarter. Intech Investment Management LLC boosted its position in Prudential Financial by 70.8% during the 2nd quarter. Intech Investment Management LLC now owns 17,570 shares of the financial services provider’s stock worth $2,059,000 after buying an additional 7,281 shares during the period. Finally, Brighton Jones LLC grew its holdings in Prudential Financial by 3.0% during the 2nd quarter. Brighton Jones LLC now owns 3,536 shares of the financial services provider’s stock worth $414,000 after acquiring an additional 103 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.