Prudential Financial (NYSE:PRU) Price Target Raised to $116.00

Prudential Financial (NYSE:PRU) had its target price hoisted by UBS Group from $111.00 to $116.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

A number of other brokerages have also commented on PRU. Morgan Stanley boosted their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Evercore ISI lifted their price target on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wolfe Research initiated coverage on Prudential Financial in a research report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Finally, Piper Sandler upped their target price on Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, December 23rd. Eleven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $118.60.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $118.13 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market cap of $41.35 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 0.94 and a beta of 0.97. The stock’s 50-day moving average is $111.00 and its 200-day moving average is $106.90. Prudential Financial has a one year low of $90.38 and a one year high of $123.88.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.The business had revenue of $8.35 billion for the quarter. Equities analysts predict that Prudential Financial will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, November 18th. Prudential Financial’s dividend payout ratio is presently 74.18%.

Insider Buying and Selling

In related news, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the transaction, the chairman owned 165,564 shares in the company, valued at approximately $17,779,917.96. This trade represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Timothy L. Schmidt sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total value of $861,520.00. Following the completion of the sale, the senior vice president owned 11,535 shares in the company, valued at $1,242,204.15. This represents a 40.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 62,719 shares of company stock worth $6,796,067. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Watch Advisors INC bought a new stake in shares of Prudential Financial during the 3rd quarter valued at approximately $30,000. Chilton Capital Management LLC increased its holdings in shares of Prudential Financial by 146.5% during the third quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock worth $36,000 after buying an additional 208 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Prudential Financial during the 2nd quarter valued at $36,000. AlphaCore Capital LLC bought a new stake in Prudential Financial during the 2nd quarter worth $39,000. Finally, Capital A Wealth Management LLC increased its holdings in Prudential Financial by 4,600.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 368 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.