Prudential Financial (NYSE:PRU) Stock Price Target Cut by TD Cowen

Prudential Financial (NYSE:PRU) had its price target dropped by TD Cowen from $114.00 to $112.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s target price would suggest a potential downside of 3.00% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Barclays lowered their price target on Prudential Financial from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday. Weiss Ratings cut Prudential Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Piper Sandler decreased their target price on Prudential Financial from $128.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $123.00 to $119.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Jefferies Financial Group lifted their price target on Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $107.15.

Prudential Financial Price Performance

NYSE PRU opened at $115.46 on Wednesday. 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 company has a fifty day simple moving average of $118.14 and a 200 day simple moving average of $111.13. The company has a market cap of $39.83 billion, a P/E ratio of 10.47, a P/E/G ratio of 1.70 and a beta of 0.85. Prudential Financial has a 1 year low of $91.89 and a 1 year high of $127.72.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.52 by $0.56. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same quarter last year, the firm posted $3.58 EPS. On average, sell-side analysts predict that Prudential Financial will post 14.47 EPS for the current year.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total value of $5,314,963.50. Following the completion of the transaction, the insider owned 7,973,657 shares in the company, valued at approximately $197,348,010.75. This represents a 2.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann Kappler sold 7,652 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the transaction, the executive vice president directly owned 14,407 shares of the company’s stock, valued at $1,801,019.07. The trade was a 34.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRU. Integrated Advisors Network LLC grew its stake in shares of Prudential Financial by 10.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 6,725 shares of the financial services provider’s stock valued at $764,000 after purchasing an additional 652 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of Prudential Financial by 266.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 485,344 shares of the financial services provider’s stock worth $55,125,000 after buying an additional 352,793 shares during the period. MBM Wealth Consultants LLC lifted its position in shares of Prudential Financial by 17.1% during the 3rd quarter. MBM Wealth Consultants LLC now owns 6,004 shares of the financial services provider’s stock worth $682,000 after buying an additional 877 shares during the period. Prime Capital Investment Advisors LLC boosted its stake in Prudential Financial by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 5,261 shares of the financial services provider’s stock valued at $598,000 after buying an additional 203 shares in the last quarter. Finally, Investment Research Partners LLC boosted its stake in Prudential Financial by 8.8% in the 3rd quarter. Investment Research Partners LLC now owns 7,572 shares of the financial services provider’s stock valued at $860,000 after buying an additional 612 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Key Stories Impacting Prudential Financial

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

• Positive Sentiment: Prudential agreed to sell its Brazil and Mexico businesses to CNP Assurances for approximately $4.025 billion in cash. The transaction narrows PRU’s exposure to emerging markets and could provide substantial liquidity for debt reduction, capital returns or investment in its core businesses, although final proceeds remain subject to closing adjustments. Prudential Financial to sell Brazil and Mexico units for $4 billion
• Positive Sentiment: The divestitures reinforce management’s effort to simplify Prudential’s portfolio and concentrate on its higher-priority businesses. Investors may view the cash sale as favorable if proceeds are deployed effectively. Prudential Financial announces sale of Prudential of Brazil and Prudential of Mexico
• Neutral Sentiment: Prudential Wealth Advisors plans to accelerate recruiting through a new centralized operating model. The initiative could support longer-term distribution and asset-gathering growth, but its financial impact is not yet clear. Prudential Wealth Advisors set to ramp up recruiting with new centralized model
• Neutral Sentiment: Prudential Life Insurance Ghana introduced PRUConnect, a digital platform intended to give customers more control over insurance services. The product may improve customer engagement, but it is unlikely to materially affect near-term valuation for the parent company. Prudential Life Insurance Ghana introduces PRUConnect
• Negative Sentiment: Barclays lowered its price target for PRU from $96 to $94 and maintained an “underweight” rating. The new target implies significant downside from the referenced share price, signaling concerns about the company’s outlook. Barclays Has Lowered Expectations for Prudential Financial Stock Price
• Negative Sentiment: Morgan Stanley cut its target from $105 to $100 and also rated the stock “underweight.” The back-to-back target reductions may reinforce near-term selling pressure despite PRU’s low valuation and recent earnings outperformance. Prudential Financial Stock Price Target Cut by Morgan Stanley

About Prudential Financial

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.