Goldman Sachs Group Inc started coverage on shares of Prudential Financial, Inc. (NYSE:PRU) in a report released on Wednesday. The brokerage issued a neutral rating and a $114.00 price target on the financial services provider’s stock.

PRU has been the topic of a number of other reports. BidaskClub cut shares of Prudential Financial from a hold rating to a sell rating in a report on Tuesday, June 27th. Royal Bank Of Canada reissued a hold rating and set a $113.00 target price on shares of Prudential Financial in a report on Tuesday, June 27th. Wells Fargo & Company reissued a hold rating on shares of Prudential Financial in a report on Thursday, August 3rd. Keefe, Bruyette & Woods reissued a buy rating on shares of Prudential Financial in a report on Friday, August 11th. Finally, Morgan Stanley increased their target price on shares of Prudential Financial from $118.00 to $123.00 and gave the stock an equal weight rating in a report on Thursday, October 5th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Prudential Financial presently has a consensus rating of Buy and an average price target of $114.56.

Shares of Prudential Financial (NYSE:PRU) traded up 1.08% on Wednesday, reaching $110.78. 1,519,219 shares of the company’s stock traded hands. The company has a 50 day moving average of $105.78 and a 200-day moving average of $106.81. Prudential Financial has a 52 week low of $82.45 and a 52 week high of $115.26. The stock has a market capitalization of $47.30 billion, a PE ratio of 12.37 and a beta of 1.51.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by ($0.61). The company had revenue of $13.03 billion during the quarter, compared to analyst estimates of $12.45 billion. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. During the same period in the prior year, the company earned $1.84 earnings per share. Equities research analysts forecast that Prudential Financial will post $10.15 earnings per share for the current year.

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In related news, insider Stephen Pelletier sold 4,133 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the completion of the transaction, the insider now owns 10,924 shares in the company, valued at approximately $1,225,454.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas C. Silitch sold 14,897 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the completion of the transaction, the insider now owns 21,274 shares of the company’s stock, valued at approximately $2,340,140. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Prudential Financial by 2.9% in the 2nd quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock valued at $3,585,415,000 after buying an additional 934,352 shares in the last quarter. Vanguard Group Inc. grew its position in Prudential Financial by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 30,885,285 shares of the financial services provider’s stock valued at $3,339,935,000 after buying an additional 612,799 shares in the last quarter. Capital Research Global Investors grew its position in Prudential Financial by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 13,662,673 shares of the financial services provider’s stock valued at $1,477,481,000 after buying an additional 162,833 shares in the last quarter. Geode Capital Management LLC grew its position in Prudential Financial by 9.4% in the 1st quarter. Geode Capital Management LLC now owns 4,297,520 shares of the financial services provider’s stock valued at $457,822,000 after buying an additional 368,321 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Prudential Financial by 11.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,157,881 shares of the financial services provider’s stock valued at $449,637,000 after buying an additional 442,168 shares in the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

Analyst Recommendations for Prudential Financial (NYSE:PRU)

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