Evercore ISI Raises Prudential Financial (NYSE:PRU) Price Target to $116.00

Prudential Financial (NYSE:PRU) had its price target increased by research analysts at Evercore ISI from $115.00 to $116.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “underperform” rating on the financial services provider’s stock. Evercore ISI’s price target suggests a potential upside of 4.46% from the company’s previous close.

A number of other research analysts also recently weighed in on PRU. TheStreet raised Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Piper Sandler boosted their price objective on Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company increased their price objective on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods raised their price target on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Raymond James cut shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average target price of $111.42.

Prudential Financial Stock Performance

NYSE:PRU traded down $1.71 during trading hours on Thursday, hitting $111.05. 103,912 shares of the company traded hands, compared to its average volume of 1,498,527. The firm has a 50-day moving average of $111.65 and a 200 day moving average of $103.56. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial has a twelve month low of $77.22 and a twelve month high of $118.69. The stock has a market capitalization of $39.87 billion, a price-to-earnings ratio of 16.58, a P/E/G ratio of 0.76 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The firm had revenue of $13.02 billion for the quarter, compared to analyst estimates of $12.99 billion. During the same period in the prior year, the business posted $2.42 EPS. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, analysts forecast that Prudential Financial will post 13.38 EPS for the current year.

Insider Activity at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 7,912 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Robert Axel sold 6,436 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the transaction, the senior vice president now owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy L. Schmidt sold 7,912 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the sale, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,255 shares of company stock worth $3,215,664. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Prudential Financial by 13.9% in the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after acquiring an additional 5,154,865 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Prudential Financial by 9,281.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock valued at $141,962,000 after buying an additional 1,354,248 shares during the period. Norges Bank acquired a new stake in Prudential Financial during the 4th quarter worth approximately $113,478,000. Dimensional Fund Advisors LP raised its holdings in shares of Prudential Financial by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock valued at $414,926,000 after purchasing an additional 388,363 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Prudential Financial during the 3rd quarter worth $34,251,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.