Prudential Financial (NYSE:PRU) Stock Price Expected to Rise, Piper Sandler Analyst Says

Prudential Financial (NYSE:PRU) had its price target lifted by research analysts at Piper Sandler from $110.00 to $128.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target would indicate a potential upside of 4.96% from the stock’s current price.

PRU has been the topic of a number of other reports. TD Cowen lifted their price target on Prudential Financial from $102.00 to $114.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. BMO Capital Markets reduced their target price on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a research note on Thursday, April 23rd. Weiss Ratings upgraded Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Zacks Research raised Prudential Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Prudential Financial from $113.00 to $123.00 and gave the company a “market perform” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $107.62.

Prudential Financial Stock Up 0.6%

Shares of NYSE PRU opened at $121.95 on Tuesday. The stock has a market capitalization of $42.07 billion, a P/E ratio of 11.05, a PEG ratio of 2.35 and a beta of 0.84. Prudential Financial has a one year low of $91.89 and a one year high of $127.72. The firm’s 50 day simple moving average is $113.28 and its two-hundred day simple moving average is $104.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. The company had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same quarter in the prior year, the company earned $3.58 EPS. As a group, analysts expect that Prudential Financial will post 13.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total value of $5,314,963.50. Following the sale, the insider directly owned 7,973,657 shares of the company’s stock, valued at approximately $197,348,010.75. The trade was a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Prudential Financial

A number of hedge funds have recently modified their holdings of PRU. BlackRock Inc. purchased a new position in Prudential Financial during the second quarter valued at approximately $3,507,481,000. Bank of New York Mellon Corp purchased a new stake in Prudential Financial during the 2nd quarter valued at approximately $209,055,000. Deutsche Bank AG bought a new position in shares of Prudential Financial during the second quarter worth $157,752,000. Arrowstreet Capital Limited Partnership boosted its holdings 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 purchasing an additional 1,247,371 shares during the last quarter. Finally, Norges Bank purchased a new position in Prudential Financial during the 4th quarter valued at approximately $140,530,000. Institutional investors own 56.83% of the company’s stock.

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.