Mizuho Cuts Prudential Financial (NYSE:PRU) Price Target to $113.00

Prudential Financial (NYSE:PRU) had its target price reduced by Mizuho from $126.00 to $113.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Mizuho’s price objective points to a potential upside of 9.63% from the stock’s current price.

Several other brokerages also recently weighed in on PRU. Keefe, Bruyette & Woods lifted their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Piper Sandler lifted their price target on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. JPMorgan Chase & Co. lowered their target price on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Wall Street Zen cut Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average price target of $117.11.

Prudential Financial Stock Up 0.9%

Shares of Prudential Financial stock opened at $103.07 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial has a 1-year low of $90.38 and a 1-year high of $119.76. The business has a 50-day moving average of $112.32 and a 200-day moving average of $107.41. The company has a market capitalization of $36.07 billion, a PE ratio of 10.28, a P/E/G ratio of 1.17 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.07). The business had revenue of $14.52 billion for the quarter, compared to analysts’ expectations of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same quarter in the prior year, the firm earned $2.96 earnings per share. As a group, equities analysts forecast that Prudential Financial will post 14.36 EPS for the current fiscal year.

Insider Activity

In related news, SVP Timothy L. Schmidt sold 8,000 shares of the 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 transaction, the senior vice president directly owned 11,535 shares in the company, valued at $1,242,204.15. This represents a 40.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 1,406,739 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was bought at an average cost of $24.87 per share, for a total transaction of $34,985,598.93. Following the purchase, the insider owned 7,709,624 shares in the company, valued at $191,738,348.88. This trade represents a 22.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PRU. Salomon & Ludwin LLC increased its holdings in shares of Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 114 shares during the last quarter. Lodestone Wealth Management LLC bought a new stake in Prudential Financial during the fourth quarter worth $28,000. Coston McIsaac & Partners boosted its stake in Prudential Financial by 93.4% in the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after buying an additional 128 shares in the last quarter. Basepoint Wealth LLC bought a new stake in Prudential Financial during the 4th quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new position in Prudential Financial in the third quarter valued at approximately $30,000. 56.83% of the stock is currently 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.