TD Cowen Increases Prudential Financial (NYSE:PRU) Price Target to $114.00

Prudential Financial (NYSE:PRU) had its price objective upped by equities researchers at TD Cowen from $102.00 to $114.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s target price would suggest a potential downside of 4.18% from the company’s previous close.

A number of other research firms have also commented on PRU. Argus lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Mizuho increased their target price on Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Jefferies Financial Group raised their price target on Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Barclays upped their price objective on shares of Prudential Financial from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Reduce” and an average target price of $105.46.

Prudential Financial Stock Performance

NYSE:PRU traded up $0.38 during mid-day trading on Wednesday, reaching $118.97. 640,507 shares of the company’s stock were exchanged, compared to its average volume of 2,155,011. Prudential Financial has a one year low of $91.89 and a one year high of $120.59. 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 business’s fifty day simple moving average is $107.93 and its two-hundred day simple moving average is $104.18. The firm has a market capitalization of $41.28 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 2.35 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The firm had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. During the same quarter in the prior year, the business posted $3.29 EPS. Analysts anticipate that Prudential Financial will post 13.81 earnings per share for the current fiscal year.

Institutional Trading of Prudential Financial

Several large investors have recently bought and sold shares of PRU. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Prudential Financial by 95.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,556,748 shares of the financial services provider’s stock worth $249,769,000 after acquiring an additional 1,247,371 shares during the last quarter. Norges Bank acquired a new position in Prudential Financial during the 4th quarter worth approximately $140,530,000. Marshall Wace LLP lifted its stake in Prudential Financial by 230.3% in the 4th quarter. Marshall Wace LLP now owns 1,374,966 shares of the financial services provider’s stock valued at $155,206,000 after purchasing an additional 958,672 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Prudential Financial by 379.8% in the second quarter. Assenagon Asset Management S.A. now owns 619,701 shares of the financial services provider’s stock valued at $66,884,000 after buying an additional 490,553 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Prudential Financial by 37.3% during the first quarter. First Trust Advisors LP now owns 1,588,247 shares of the financial services provider’s stock worth $155,156,000 after buying an additional 431,527 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

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.