Barclays Forecasts Strong Price Appreciation for Prudential Financial (NYSE:PRU) Stock

Prudential Financial (NYSE:PRU – Get Free Report) had its target price increased by equities research analysts at Barclays from $92.00 to $96.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential downside of 14.25% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Prudential Financial from $113.00 to $123.00 and gave the company a “market perform” rating in a report on Tuesday, August 11th. Wells Fargo & Company raised their target price on shares of Prudential Financial from $103.00 to $110.00 and gave the stock an “underweight” rating in a report on Wednesday, August 19th. Zacks Research upgraded Prudential Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Morgan Stanley increased their price target on Prudential Financial from $92.00 to $105.00 and gave the stock an “underweight” rating in a research report on Monday, August 24th. Finally, JPMorgan Chase & Co. raised their price objective on Prudential Financial from $129.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $109.62.

View Our Latest Report on Prudential Financial

Prudential Financial Stock Performance

PRU stock traded down $1.58 during trading hours on Wednesday, hitting $111.96. 223,513 shares of the stock were exchanged, compared to its average volume of 2,028,232. Prudential Financial has a 12 month low of $91.89 and a 12 month high of $127.72. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $38.63 billion, a P/E ratio of 10.15, a P/E/G ratio of 1.70 and a beta of 0.85. The company has a 50-day simple moving average of $119.77 and a two-hundred day simple moving average of $109.78.

Prudential Financial (NYSE:PRU – Get Free Report) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The company had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.36 billion. During the same quarter in the previous year, the business posted $3.58 earnings per share. On average, analysts forecast that Prudential Financial will post 14.54 earnings per share for the current fiscal year.

Insider Activity at Prudential Financial

In other news, EVP Ann Kappler sold 7,652 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the sale, the executive vice president owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the sale, the insider owned 7,973,657 shares in the company, valued at $197,348,010.75. This represents a 2.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Archer Investment Corp acquired a new stake in Prudential Financial in the second quarter valued at about $26,000. SJS Investment Consulting Inc. lifted its holdings in shares of Prudential Financial by 93.1% in the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 134 shares during the last quarter. Union Savings Bank bought a new position in shares of Prudential Financial in the fourth quarter worth about $35,000. Reflection Asset Management acquired a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $39,000. Finally, EFG International AG grew its holdings in shares of Prudential Financial by 452.2% during the 2nd quarter. EFG International AG now owns 381 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 312 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Key Prudential Financial News

Here are the key news stories impacting Prudential Financial this week:

Prudential Financial Company Profile

(Get Free Report)

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in 1875 and headquartered in Newark, New Jersey, the company serves individual, institutional and workplace customers through businesses in the United States and selected international markets.

In the United States, Prudential offers life insurance, annuities, retirement plans and group insurance products, including coverage for employees and their families.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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