Prudential Financial (NYSE:PRU) Given New $134.00 Price Target at Barclays

Prudential Financial (NYSE:PRU) had its target price boosted by research analysts at Barclays from $128.00 to $134.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential upside of 13.65% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Wells Fargo & Company lowered their price target on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. TD Cowen boosted their price objective on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Jefferies Financial Group lifted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Bank of America upped their target price on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, BMO Capital Markets assumed coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus target price of $125.77.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $117.91 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial has a one year low of $101.72 and a one year high of $130.55. The stock has a market cap of $41.97 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. The stock has a 50 day moving average price of $120.38 and a 200-day moving average price of $120.46.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. Equities analysts expect that Prudential Financial will post 13.24 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Savant Capital LLC grew its position in Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock valued at $1,705,000 after purchasing an additional 83 shares in the last quarter. Grove Bank & Trust increased its stake in shares of Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares during the last quarter. Avidian Wealth Enterprises LLC raised its holdings in shares of Prudential Financial by 1.2% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after acquiring an additional 89 shares in the last quarter. Asset Dedication LLC boosted its position in Prudential Financial by 28.4% during the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 93 shares during the last quarter. Finally, RNC Capital Management LLC grew its stake in Prudential Financial by 3.3% in the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock valued at $354,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds 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.