Prudential Financial Inc (PRU) Price Target Raised to $117.00
Prudential Financial Inc (NYSE:PRU) had its price target upped by investment analysts at Deutsche Bank AG from $114.00 to $117.00 in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Deutsche Bank AG’s price objective indicates a potential upside of 10.54% from the stock’s current price.
Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research note on Wednesday, December 28th. Vetr raised Prudential Financial from a “hold” rating to a “buy” rating and set a $109.90 price target for the company in a research report on Wednesday, March 22nd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $117.00 price target on shares of Prudential Financial in a research report on Tuesday, March 21st. Barclays PLC reissued a “buy” rating and set a $129.00 price target on shares of Prudential Financial in a research report on Sunday, February 19th. Finally, Atlantic Securities downgraded Prudential Financial from an “overweight” rating to a “neutral” rating in a research report on Friday, February 10th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $106.45.
Prudential Financial (NYSE:PRU) traded up 1.60% on Wednesday, reaching $105.84. The company had a trading volume of 1,963,775 shares. Prudential Financial has a 52-week low of $66.51 and a 52-week high of $114.55. The company’s 50-day moving average is $107.74 and its 200-day moving average is $101.63. The company has a market capitalization of $45.51 billion, a PE ratio of 10.90 and a beta of 1.69.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, February 8th. The financial services provider reported $2.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.32 by $0.14. The firm earned $13.42 billion during the quarter, compared to analyst estimates of $12.09 billion. Prudential Financial had a return on equity of 7.96% and a net margin of 7.63%. During the same period in the prior year, the firm posted $1.94 earnings per share. Equities analysts anticipate that Prudential Financial will post $10.48 EPS for the current fiscal year.
In other news, EVP Timothy P. Harris sold 6,087 shares of the stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $110.75, for a total transaction of $674,135.25. Following the sale, the executive vice president now directly owns 26,022 shares in the company, valued at approximately $2,881,936.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Todman purchased 450 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were bought at an average price of $111.11 per share, for a total transaction of $49,999.50. Following the completion of the transaction, the director now directly owns 450 shares in the company, valued at approximately $49,999.50. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Oakbrook Investments LLC bought a new stake in shares of Prudential Financial during the first quarter worth $4,307,000. Ledyard National Bank boosted its stake in shares of Prudential Financial by 4,178.6% in the first quarter. Ledyard National Bank now owns 1,797 shares of the financial services provider’s stock worth $192,000 after buying an additional 1,755 shares during the last quarter. Barometer Capital Management Inc. boosted its stake in shares of Prudential Financial by 72.0% in the first quarter. Barometer Capital Management Inc. now owns 158,200 shares of the financial services provider’s stock worth $16,877,000 after buying an additional 66,200 shares during the last quarter. Patten & Patten Inc. TN boosted its stake in shares of Prudential Financial by 11.5% in the first quarter. Patten & Patten Inc. TN now owns 12,887 shares of the financial services provider’s stock worth $1,375,000 after buying an additional 1,328 shares during the last quarter. Finally, Coastline Trust Co boosted its stake in shares of Prudential Financial by 13.0% in the first quarter. Coastline Trust Co now owns 3,555 shares of the financial services provider’s stock worth $380,000 after buying an additional 410 shares during the last quarter. Institutional investors and hedge funds own 60.91% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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