Prudential Financial (NYSE:PRU) Stock Rating Upgraded by Wall Street Zen

Prudential Financial (NYSE:PRU) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday, Wall Street Zen reports.

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods lifted their price target on Prudential Financial from $113.00 to $123.00 and gave the stock a “market perform” rating in a report on Tuesday, August 11th. Barclays upped their price objective on shares of Prudential Financial from $90.00 to $92.00 and gave the company an “underweight” rating in a report on Tuesday, July 7th. Piper Sandler lifted their target price on shares of Prudential Financial from $110.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Argus lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Finally, Morgan Stanley raised their price target on shares of Prudential Financial from $92.00 to $105.00 and gave the stock an “underweight” rating in a report on Monday, August 24th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $109.31.

Prudential Financial Trading Up 0.1%

Shares of Prudential Financial stock opened at $118.56 on Friday. 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 stock’s 50 day simple moving average is $120.47 and its 200-day simple moving average is $108.20. The stock has a market cap of $40.90 billion, a P/E ratio of 10.74, a P/E/G ratio of 1.77 and a beta of 0.83. Prudential Financial has a 1-year low of $91.89 and a 1-year high of $127.72.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.52 by $0.56. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same quarter last year, the firm earned $3.58 earnings per share. Analysts predict that Prudential Financial will post 14.57 EPS for the current fiscal year.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of Prudential Financial stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total value of $5,314,963.50. Following the completion of the sale, the insider owned 7,973,657 shares in the company, valued at approximately $197,348,010.75. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann M. Kappler sold 7,652 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 14,407 shares in the company, valued at approximately $1,801,019.07. The trade was a 34.69% decrease in their position. The SEC filing for this sale provides additional information. 0.05% of the stock is owned by company insiders.

Institutional Investors Weigh In On Prudential Financial

Institutional investors have recently modified their holdings of the company. Security National Bank of SO Dak lifted its stake in Prudential Financial by 0.6% during the 2nd quarter. Security National Bank of SO Dak now owns 14,676 shares of the financial services provider’s stock worth $1,584,000 after acquiring an additional 90 shares in the last quarter. Security National Bank of Sioux City Iowa IA grew its position in Prudential Financial by 38.2% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 17,781 shares of the financial services provider’s stock valued at $1,919,000 after acquiring an additional 4,915 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Prudential Financial by 5.0% during the second quarter. Sequoia Financial Advisors LLC now owns 25,053 shares of the financial services provider’s stock worth $2,704,000 after purchasing an additional 1,182 shares during the period. Tidal Investments LLC lifted its position in shares of Prudential Financial by 25.7% during the second quarter. Tidal Investments LLC now owns 75,277 shares of the financial services provider’s stock worth $8,125,000 after purchasing an additional 15,378 shares in the last quarter. Finally, National Pension Service boosted its stake in shares of Prudential Financial by 4.4% in the second quarter. National Pension Service now owns 840,126 shares of the financial services provider’s stock valued at $90,675,000 after purchasing an additional 35,677 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Company Profile

Prudential Financial, Inc is a global financial services company headquartered in Newark, New Jersey. Founded in 1875 as The Widows and Orphans Friendly Society, the company has grown from a life insurance provider into a diversified business offering insurance, retirement, investment management and related financial services.

Through its U.S. businesses, Prudential provides individual life insurance and annuities, workplace retirement plans, pension risk transfer solutions, group life and disability insurance, and other benefits and financial wellness products.