Prudential Financial (NYSE:PRU) Given New $119.00 Price Target at Barclays

Prudential Financial (NYSE:PRU) had its price target decreased by analysts at Barclays from $124.00 to $119.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 26.72% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Wall Street Zen cut Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Evercore reaffirmed a “negative” rating on shares of Prudential Financial in a report on Friday. Mizuho reduced their price target on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday, February 10th. Finally, Morgan Stanley lowered their price objective on Prudential Financial from $120.00 to $111.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Prudential Financial presently has an average rating of “Reduce” and a consensus price target of $115.22.

Prudential Financial Stock Performance

Prudential Financial stock traded down $1.57 during trading hours on Wednesday, hitting $93.91. 629,179 shares of the stock traded hands, compared to its average volume of 2,298,211. The firm’s 50 day moving average price is $106.97 and its 200-day moving average price is $106.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market capitalization of $32.68 billion, a price-to-earnings ratio of 9.41, a P/E/G ratio of 1.11 and a beta of 0.98. Prudential Financial has a 1 year low of $90.38 and a 1 year high of $119.76.

Prudential Financial (NYSE:PRU) last released its 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). Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.The firm had revenue of $14.52 billion for the quarter, compared to analyst estimates of $14.48 billion. During the same period last year, the firm earned $2.96 EPS. As a group, equities analysts expect that Prudential Financial will post 14.36 EPS for the current fiscal year.

Insider Activity at Prudential Financial

In related news, EVP Caroline Feeney sold 6,555 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $116.28, for a total transaction 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 represents a 22.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph J. Wolk acquired 400 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was purchased at an average price of $105.32 per share, for a total transaction of $42,128.00. Following the completion of the acquisition, the director owned 400 shares in the company, valued at $42,128. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 1,408,389 shares of company stock valued at $35,154,439 in the last three months. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Prudential Financial

Several large investors have recently made changes to their positions in PRU. Jessup Wealth Management Inc acquired a new stake in Prudential Financial during the 4th quarter worth $25,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $26,000. Salomon & Ludwin LLC lifted its stake in shares of Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after buying an additional 114 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in Prudential Financial during the fourth quarter worth about $28,000. Finally, Basepoint Wealth LLC purchased a new stake in Prudential Financial during the 4th quarter valued at about $30,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Company Profile

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.