UBS Group Issues Positive Forecast for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its price objective increased by analysts at UBS Group from $92.00 to $125.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. UBS Group‘s target price points to a potential upside of 1.62% from the stock’s previous close.

Several other brokerages have also recently issued reports on PRU. Jefferies Financial Group dropped their target price on Prudential Financial from $116.00 to $109.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. JPMorgan Chase & Co. decreased their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, October 22nd. Morgan Stanley dropped their price objective on Prudential Financial from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. BMO Capital Markets boosted their target price on shares of Prudential Financial from $90.00 to $120.00 and gave the stock an “underperform” rating in a report on Friday, August 21st. Finally, Zacks Research lowered shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, October 23rd. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $114.20.

Prudential Financial Stock Down 0.2%

Shares of Prudential Financial stock traded down $0.30 during trading on Wednesday, hitting $123.00. 1,107,159 shares of the stock traded hands, compared to its average volume of 2,012,656. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $117.14 and its 200 day simple moving average is $109.10. The firm has a market cap of $42.19 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 1.93 and a beta of 0.85. Prudential Financial has a 52-week low of $91.89 and a 52-week high of $128.78.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.44. Prudential Financial had a net margin of 6.75% and a return on equity of 16.38%. The business had revenue of $14.45 billion for the quarter, compared to the consensus estimate of $14.66 billion. During the same quarter last year, the firm posted $4.26 EPS. On average, equities analysts predict that Prudential Financial will post 13.60 earnings per share for the current fiscal year.

Insider Transactions at Prudential Financial

In other Prudential Financial news, CEO Andrew F. Sullivan sold 3,544 shares of the stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $121.32, for a total value of $429,958.08. Following the completion of the sale, the chief executive officer directly owned 50,317 shares in the company, valued at approximately $6,104,458.44. This trade represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann M. Kappler sold 2,797 shares of Prudential Financial stock in a transaction on Friday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $337,318.20. Following the sale, the executive vice president owned 14,482 shares of the company’s stock, valued at $1,746,529.20. The trade was a 16.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 16,787 shares of company stock valued at $2,062,597 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Prudential Financial in the 2nd quarter valued at $3,507,481,000. Bank of New York Mellon Corp acquired a new position in Prudential Financial during the second quarter valued at $209,055,000. Bank of America Corp DE purchased a new stake in Prudential Financial in the second quarter valued at $208,957,000. Deutsche Bank AG purchased a new stake in Prudential Financial in the second quarter valued at $157,752,000. Finally, Arrowstreet Capital Limited Partnership grew its position in 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 worth $249,769,000 after purchasing an additional 1,247,371 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial News Summary

Here’s some of the latest news about PRU:

• Positive Sentiment: Prudential declared a quarterly dividend of $1.40 per share, payable December 10 to shareholders of record November 24. That equates to $5.60 annually and a roughly 4.5%–4.6% yield, supporting the stock’s appeal to income investors. The announcement did not indicate a dividend increase. Dividend announcement
• Negative Sentiment: Three executives reported selling a combined 9,135 shares on November 6 for about $1.11 million. CEO Andrew F. Sullivan, EVP Ann Kappler, and SVP Robert E. Boyle each reduced their holdings. Insider sales can create a near-term sentiment headwind, although the filings do not explain the reasons for the transactions. Read More., Read More., Read More..

About Prudential Financial

Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.