Prudential Financial (NYSE:PRU) Price Target Raised to $115.00

Prudential Financial (NYSE:PRU) had its target price hoisted by Wells Fargo & Company from $113.00 to $115.00 in a research report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other analysts also recently issued reports on the company. Barclays cut their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Wolfe Research started coverage on Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Prudential Financial in a report on Monday, December 29th. Piper Sandler increased their price objective on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, December 23rd. Finally, Wall Street Zen lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $118.80.

Prudential Financial Trading Down 1.1%

Prudential Financial stock opened at $116.42 on Tuesday. Prudential Financial has a 1 year low of $90.38 and a 1 year high of $123.88. The firm’s 50-day moving average is $111.98 and its 200-day moving average is $107.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $40.75 billion, a P/E ratio of 15.99, a PEG ratio of 0.94 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $4.26 earnings per share for the quarter, topping the consensus estimate of $3.72 by $0.54. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. The firm had revenue of $17.89 billion for the quarter, compared to analyst estimates of $13.77 billion. During the same quarter in the prior year, the business earned $3.48 earnings per share. On average, equities analysts expect that Prudential Financial will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.6%. Prudential Financial’s payout ratio is currently 74.18%.

Insider Activity at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total value of $861,520.00. Following the completion of the transaction, the senior vice president owned 11,535 shares of the company’s stock, valued at approximately $1,242,204.15. This trade represents a 40.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 6,555 shares of Prudential Financial stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $116.28, for a total transaction of $762,215.40. Following the transaction, the executive vice president owned 22,523 shares in the company, valued at approximately $2,618,974.44. The trade was a 22.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 62,719 shares of company stock worth $6,796,067. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Prudential Financial

Hedge funds have recently bought and sold shares of the business. Capital Advisors Inc. OK grew its stake in Prudential Financial by 5.5% during the 4th quarter. Capital Advisors Inc. OK now owns 405,696 shares of the financial services provider’s stock valued at $45,795,000 after acquiring an additional 21,292 shares in the last quarter. Hengehold Capital Management LLC boosted its holdings in shares of Prudential Financial by 0.4% during the fourth quarter. Hengehold Capital Management LLC now owns 43,792 shares of the financial services provider’s stock worth $4,943,000 after purchasing an additional 170 shares during the period. Lodestone Wealth Management LLC purchased a new position in Prudential Financial during the fourth quarter valued at approximately $28,000. Silver Oak Securities Incorporated acquired a new position in Prudential Financial in the 4th quarter valued at approximately $213,000. Finally, McGlone Suttner Wealth Management Inc. lifted its position in Prudential Financial by 8.0% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 9,505 shares of the financial services provider’s stock worth $1,073,000 after buying an additional 705 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

About Prudential Financial

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.