Prudential Financial (NYSE:PRU) had its target price cut by equities research analysts at Morgan Stanley from $122.00 to $120.00 in a research note issued to investors on Thursday. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 25.20% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. B. Riley dropped their target price on Prudential Financial from $129.00 to $116.00 and set a “buy” rating for the company in a research report on Monday, July 16th. Credit Suisse Group dropped their target price on Prudential Financial from $102.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, August 17th. UBS Group boosted their target price on Prudential Financial from $125.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. Finally, ValuEngine upgraded Prudential Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $119.31.

Shares of PRU opened at $95.85 on Thursday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.34. Prudential Financial has a 52-week low of $89.33 and a 52-week high of $127.14. The firm has a market capitalization of $41.99 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 0.92 and a beta of 1.44.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, November 7th. The financial services provider reported $3.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.16 by ($0.01). Prudential Financial had a net margin of 12.59% and a return on equity of 9.97%. The business had revenue of $14.43 billion during the quarter, compared to the consensus estimate of $13.51 billion. During the same quarter in the previous year, the firm posted $3.01 EPS. On average, equities research analysts forecast that Prudential Financial will post 12.21 earnings per share for the current year.

In related news, insider Scott Sleyster sold 23,300 shares of Prudential Financial stock in a transaction on Friday, September 28th. The stock was sold at an average price of $99.74, for a total transaction of $2,323,942.00. Following the completion of the sale, the insider now directly owns 57,758 shares of the company’s stock, valued at $5,760,782.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Prudential Financial Inc acquired 880,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The shares were bought at an average cost of $25.00 per share, with a total value of $22,000,000.00. The disclosure for this purchase can be found here. 0.66% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Natixis grew its stake in Prudential Financial by 6,036.0% in the second quarter. Natixis now owns 845,049 shares of the financial services provider’s stock valued at $79,021,000 after acquiring an additional 831,277 shares during the period. CIBC World Markets Inc. grew its stake in Prudential Financial by 985.8% in the third quarter. CIBC World Markets Inc. now owns 688,124 shares of the financial services provider’s stock valued at $69,721,000 after acquiring an additional 624,750 shares during the period. Advisors Asset Management Inc. grew its stake in Prudential Financial by 1,360.6% in the second quarter. Advisors Asset Management Inc. now owns 384,553 shares of the financial services provider’s stock valued at $2,158,000 after acquiring an additional 358,225 shares during the period. OppenheimerFunds Inc. grew its stake in Prudential Financial by 36.5% in the second quarter. OppenheimerFunds Inc. now owns 1,124,424 shares of the financial services provider’s stock valued at $105,145,000 after acquiring an additional 300,886 shares during the period. Finally, First Trust Advisors LP grew its stake in Prudential Financial by 92.0% in the second quarter. First Trust Advisors LP now owns 544,990 shares of the financial services provider’s stock valued at $50,962,000 after acquiring an additional 261,210 shares during the period. 63.15% of the stock is owned by institutional investors and hedge funds.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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