Prudential Financial (NYSE:PRU) Price Target Cut to $113.00 by Analysts at Mizuho

Prudential Financial (NYSE:PRU) had its price target reduced by equities researchers at Mizuho from $126.00 to $113.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Mizuho’s price objective suggests a potential upside of 9.63% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Piper Sandler lifted their target price on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Wall Street Zen lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Keefe, Bruyette & Woods increased their target price on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Weiss Ratings upgraded Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $117.11.

Prudential Financial Price Performance

PRU stock opened at $103.07 on Tuesday. Prudential Financial has a one year low of $90.38 and a one year high of $119.76. 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’s fifty day moving average price is $112.32 and its 200-day moving average price is $107.41. The company has a market capitalization of $36.07 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.17 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). The business had revenue of $14.52 billion during the quarter, compared to the consensus estimate of $14.48 billion. Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. During the same period in the previous year, the business posted $2.96 EPS. On average, equities analysts anticipate that Prudential Financial will post 14.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Caroline Feeney sold 6,555 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $116.28, for a total value of $762,215.40. Following the completion of the transaction, the executive vice president owned 22,523 shares in the company, valued at $2,618,974.44. This trade represents a 22.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 1,406,739 shares of the stock in a transaction on Friday, January 23rd. The shares were bought at an average price of $24.87 per share, for a total transaction of $34,985,598.93. Following the completion of the transaction, the insider directly owned 7,709,624 shares of the company’s stock, valued at $191,738,348.88. This trade represents a 22.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Prudential Financial

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Prudential Financial by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock worth $4,566,432,000 after purchasing an additional 600,482 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Prudential Financial by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 9,533,806 shares of the financial services provider’s stock worth $1,078,904,000 after purchasing an additional 26,414 shares during the period. Legal & General Group Plc increased its stake in shares of Prudential Financial by 2.4% during the 3rd quarter. Legal & General Group Plc now owns 2,701,116 shares of the financial services provider’s stock valued at $280,214,000 after acquiring an additional 62,366 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Prudential Financial by 1.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,408,942 shares of the financial services provider’s stock worth $258,817,000 after acquiring an additional 31,088 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Prudential Financial by 16.6% in the fourth quarter. Nordea Investment Management AB now owns 2,044,374 shares of the financial services provider’s stock valued at $231,321,000 after purchasing an additional 291,422 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

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.