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

Prudential Financial (NYSE:PRU) had its price target increased by Barclays from $94.00 to $98.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an underweight rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the company. TD Cowen reduced their price objective on Prudential Financial from $114.00 to $112.00 and set a “hold” rating on the stock in a research note on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft lowered their target price on Prudential Financial from $105.00 to $102.00 and set a “hold” rating for the company in a research note on Friday, October 23rd. Evercore cut their price target on Prudential Financial from $110.00 to $106.00 in a report on Friday, October 9th. JPMorgan Chase & Co. reduced their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, October 22nd. Finally, Wells Fargo & Company decreased their price objective on Prudential Financial from $104.00 to $103.00 and set an “underweight” rating for the company in a research note on Wednesday, October 28th. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $111.53.

Prudential Financial Trading Up 6.6%

NYSE PRU opened at $126.67 on Wednesday. The firm has a 50 day simple moving average of $116.96 and a 200-day simple moving average of $108.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial has a one year low of $91.89 and a one year high of $127.79. The firm has a market cap of $43.70 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.99 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.44. The firm had revenue of $14.45 billion for the quarter, compared to the consensus estimate of $14.66 billion. Prudential Financial had a net margin of 6.75% and a return on equity of 16.08%. During the same period in the prior year, the firm earned $4.26 EPS. Equities research analysts anticipate that Prudential Financial will post 13.51 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were paid a $1.40 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $5.60 dividend on an annualized basis and a yield of 4.4%. Prudential Financial’s dividend payout ratio (DPR) is currently 50.72%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann Kappler sold 7,652 shares of Prudential Financial stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the sale, the executive vice president directly owned 14,407 shares of the company’s stock, valued at $1,801,019.07. The trade was a 34.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Lido Advisors LLC grew its holdings in shares of Prudential Financial by 16.4% during the third quarter. Lido Advisors LLC now owns 39,094 shares of the financial services provider’s stock worth $4,440,000 after purchasing an additional 5,510 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in shares of Prudential Financial by 19.7% during the third quarter. Cornerstone Wealth Management LLC now owns 11,163 shares of the financial services provider’s stock worth $1,268,000 after purchasing an additional 1,841 shares in the last quarter. Csenge Advisory Group lifted its holdings in shares of Prudential Financial by 7.6% in the 3rd quarter. Csenge Advisory Group now owns 3,002 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 213 shares during the last quarter. 71 West Capital Partners lifted its holdings in shares of Prudential Financial by 15.0% in the 3rd quarter. 71 West Capital Partners now owns 2,726 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 356 shares during the last quarter. Finally, Gryphon Financial Partners LLC boosted its position in shares of Prudential Financial by 12.5% in the 3rd quarter. Gryphon Financial Partners LLC now owns 2,634 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 292 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Trending Headlines about Prudential Financial

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Earnings topped expectations. Third-quarter earnings were $3.77 per share, ahead of analyst estimates of $3.34. Reports cited PGIM and U.S. protection as sources of strength. Read More.
• Positive Sentiment: Annuity sales reached a 13-year high, offering evidence of strong demand in an important business line. Read More.
• Neutral Sentiment: Investors may look to management’s outlook and strategy. Prudential’s Q3 earnings call covered the company’s results and business reshaping. Read More.
• Negative Sentiment: Revenue missed estimates and earnings declined year over year. Revenue of $14.45 billion was below the $14.66 billion consensus, while earnings fell from $4.26 per share in the year-ago quarter. Read More.
• Negative Sentiment: Japan remains a headwind. The suspension of business there reduced income by $191 million, while Prudential is also accounting for a reported $1.3 billion Japan-related cost as it reshapes its Asia and emerging-markets footprint. Read More.
• Negative Sentiment: Some analyst signals remain cautious. Barclays raised its price target to $98 from $94 but kept an “underweight” rating; Zacks also added PRU to its Strong Sell list. Read More. · Read More.

Prudential Financial Company Profile

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.