Prudential Financial (NYSE:PRU) Stock Gets Price Target Trim from Morgan Stanley

Prudential Financial (NYSE:PRU) had its target price reduced by Morgan Stanley from $105.00 to $100.00 in a report issued on Monday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the financial services provider’s stock.

Several other research firms have also recently commented on PRU. Wells Fargo & Company cut their target price on Prudential Financial from $110.00 to $104.00 and set an “underweight” rating on the stock in a research note on Monday, October 12th. Jefferies Financial Group raised their price target on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Barclays lifted their price objective on shares of Prudential Financial from $92.00 to $96.00 and gave the company an “underweight” rating in a report on Wednesday, October 7th. Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $123.00 to $119.00 and set a “market perform” rating on the stock in a research report on Friday, October 16th. Finally, TD Cowen boosted their price objective on shares of Prudential Financial from $102.00 to $114.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $107.15.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $114.80 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market cap of $39.61 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 1.73 and a beta of 0.85. The stock’s 50-day moving average is $117.98 and its 200-day moving average is $111.25. Prudential Financial has a one year low of $91.89 and a one year high of $127.72.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%. The business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.36 billion. During the same period last year, the company earned $3.58 earnings per share. Equities analysts predict that Prudential Financial will post 14.37 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Tuesday, August 25th. Prudential Financial’s payout ratio is currently 50.72%.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the 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 owned 7,973,657 shares in the company, valued at approximately $197,348,010.75. This represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann M. Kappler sold 7,652 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the sale, the executive vice president directly owned 14,407 shares of the company’s stock, valued at $1,801,019.07. This represents a 34.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Cantor Fitzgerald Investment Advisors L.P. raised its stake in Prudential Financial by 2.2% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 139,967 shares of the financial services provider’s stock worth $15,898,000 after acquiring an additional 2,966 shares in the last quarter. Magnus Financial Group LLC lifted its holdings in shares of Prudential Financial by 4.8% in the third quarter. Magnus Financial Group LLC now owns 2,472 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 113 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Prudential Financial by 11.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 22,217 shares of the financial services provider’s stock valued at $2,523,000 after purchasing an additional 2,263 shares in the last quarter. Integrated Advisors Network LLC boosted its stake in shares of Prudential Financial by 10.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 6,725 shares of the financial services provider’s stock valued at $764,000 after purchasing an additional 652 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Prudential Financial by 266.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 485,344 shares of the financial services provider’s stock valued at $55,125,000 after purchasing an additional 352,793 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Prudential Financial

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

• Positive Sentiment: Prudential agreed to sell its Brazil and Mexico insurance operations to CNP Assurances for approximately $4.025 billion in cash. The transaction could provide substantial capital, simplify Prudential’s international footprint and sharpen its focus on core businesses. The deal is subject to closing adjustments and customary conditions. Prudential Financial Agrees to Sell Operations in Brazil and Mexico
• Positive Sentiment: Prudential partnered with SoFi to expand access to life insurance. The relationship may broaden Prudential’s digital distribution and customer reach, although the financial contribution was not disclosed. SoFi ties up with Prudential Financial for expanded access to life insurance
• Neutral Sentiment: Prudential Wealth Advisors plans to increase recruiting through a centralized operating model. The initiative could support longer-term growth, but its near-term effect on earnings is uncertain. Prudential Wealth Advisors set to ramp up recruiting
• Neutral Sentiment: Prudential Life Insurance Ghana launched PRUConnect, a customer-facing digital insurance platform. The product supports engagement and service improvements, but appears unlikely to materially affect consolidated results immediately. Prudential Life Insurance Ghana introduces PRUConnect
• Negative Sentiment: Analysts lowered their expectations for PRU. TD Cowen cut its price target from $114 to $112 and maintained a “hold” rating. Barclays and Morgan Stanley also reduced their price targets, reinforcing concerns about limited near-term upside. Barclays lowers expectations for Prudential Financial Morgan Stanley cuts Prudential Financial price target

About Prudential Financial

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.