Wells Fargo & Company Forecasts Strong Price Appreciation for Prudential Financial (NYSE:PRU) Stock

Prudential Financial (NYSE:PRU) had its price target lifted by equities researchers at Wells Fargo & Company from $100.00 to $103.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 11.12% from the company’s previous close.

PRU has been the topic of several other reports. Weiss Ratings upgraded Prudential Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Bank of America dropped their price objective on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Barclays lifted their target price on shares of Prudential Financial from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Tuesday. Jefferies Financial Group cut shares of Prudential Financial from a “buy” rating to a “hold” rating and decreased their price target for the company from $124.00 to $98.00 in a research report on Wednesday, April 22nd. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $92.00 price target (down from $106.00) on shares of Prudential Financial in a research note on Monday, May 4th. Eleven equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Prudential Financial presently has an average rating of “Reduce” and an average target price of $103.00.

Prudential Financial Price Performance

Shares of PRU traded up $3.22 during trading hours on Thursday, reaching $115.89. The stock had a trading volume of 1,112,666 shares, compared to its average volume of 2,189,157. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial has a 12 month low of $91.89 and a 12 month high of $119.76. The stock has a market capitalization of $40.21 billion, a PE ratio of 11.93, a PEG ratio of 2.10 and a beta of 0.85. The company’s 50-day moving average is $104.84 and its two-hundred day moving average is $104.02.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. The business had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the previous year, the company posted $3.29 EPS. Research analysts expect that Prudential Financial will post 13.81 EPS for the current year.

Institutional Investors Weigh In On Prudential Financial

A number of institutional investors have recently modified their holdings of PRU. Sunflower Bank N.A. boosted its holdings in Prudential Financial by 3.2% in the fourth quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 91 shares in the last quarter. Wetzel Investment Advisors Inc. lifted its holdings in shares of Prudential Financial by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider’s stock worth $1,131,000 after purchasing an additional 94 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Prudential Financial by 0.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock valued at $2,987,000 after purchasing an additional 97 shares during the period. Transcend Capital Advisors LLC increased its stake in Prudential Financial by 2.4% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 98 shares in the last quarter. Finally, Mindset Wealth Management LLC raised its holdings in Prudential Financial by 2.1% during the third quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock worth $496,000 after buying an additional 100 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Company Profile

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.