Keefe, Bruyette & Woods Issues Positive Forecast for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its target price boosted by investment analysts at Keefe, Bruyette & Woods from $106.00 to $113.00 in a report released on Monday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 3.11% from the stock’s current price.

PRU has been the subject of a number of other research reports. BMO Capital Markets decreased their target price on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating for the company in a report on Thursday, April 23rd. Wells Fargo & Company raised their price target on shares of Prudential Financial from $100.00 to $103.00 and gave the stock an “underweight” rating in a research report on Thursday. Jefferies Financial Group lifted their price objective on shares of Prudential Financial from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Friday. Bank of America dropped their price objective on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Finally, Piper Sandler increased their price objective on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Eleven research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $104.58.

Prudential Financial Price Performance

NYSE PRU opened at $116.63 on Monday. The company has a market cap of $40.47 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 2.10 and a beta of 0.85. 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’s fifty day moving average price is $105.58 and its 200 day moving average price is $104.02. Prudential Financial has a 1 year low of $91.89 and a 1 year high of $119.76.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. The company had revenue of $15.23 billion during the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the previous year, the firm posted $3.29 EPS. As a group, equities research analysts forecast that Prudential Financial will post 13.82 earnings per share for the current year.

Hedge Funds Weigh In On Prudential Financial

Several institutional investors and hedge funds have recently modified their holdings of PRU. State Street Corp raised its holdings in Prudential Financial by 1.2% in the 4th quarter. State Street Corp now owns 17,234,061 shares of the financial services provider’s stock worth $1,945,381,000 after purchasing an additional 210,959 shares during the period. Geode Capital Management LLC grew its holdings in Prudential Financial by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 9,533,806 shares of the financial services provider’s stock valued at $1,078,904,000 after purchasing an additional 26,414 shares during the period. Morgan Stanley increased its position in shares of Prudential Financial by 6.7% in the fourth quarter. Morgan Stanley now owns 6,649,202 shares of the financial services provider’s stock valued at $750,562,000 after buying an additional 420,081 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Prudential Financial by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,758,545 shares of the financial services provider’s stock worth $367,089,000 after buying an additional 166,641 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Prudential Financial by 95.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,556,748 shares of the financial services provider’s stock valued at $249,769,000 after buying an additional 1,247,371 shares in the last quarter. Hedge funds and other institutional investors 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.