Prudential Financial (PRU) Given a $122.00 Price Target by Wells Fargo & Company Analysts
Prudential Financial (NYSE:PRU) has been assigned a $122.00 target price by research analysts at Wells Fargo & Company in a research report issued on Thursday. The firm presently has a “hold” rating on the financial services provider’s stock. Wells Fargo & Company’s target price points to a potential upside of 6.58% from the company’s previous close.
A number of other equities analysts have also recently weighed in on PRU. Royal Bank of Canada reaffirmed a “hold” rating and issued a $117.00 price target on shares of Prudential Financial in a report on Wednesday, September 6th. Morgan Stanley upped their price target on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. FBR & Co raised Prudential Financial from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $117.00 to $100.00 in a report on Tuesday, October 10th. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a report on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Monday, October 16th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $115.78.
Prudential Financial (NYSE PRU) traded up $0.52 during midday trading on Thursday, reaching $114.47. The company had a trading volume of 1,981,848 shares, compared to its average volume of 1,843,200. The firm has a market cap of $49,040.00, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.31 and a beta of 1.55. Prudential Financial has a 12 month low of $97.88 and a 12 month high of $117.99. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.30. The company had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same quarter in the prior year, the firm posted $2.66 EPS. equities analysts anticipate that Prudential Financial will post 10.44 EPS for the current fiscal year.
In other news, insider Nicholas C. Silitch sold 44,860 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $111.77, for a total value of $5,014,002.20. Following the completion of the sale, the insider now directly owns 27,927 shares in the company, valued at $3,121,400.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy P. Harris sold 10,527 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total value of $1,210,605.00. The disclosure for this sale can be found here. Insiders have sold 100,017 shares of company stock valued at $11,219,151 in the last three months. Insiders own 0.66% of the company’s stock.
Several hedge funds have recently bought and sold shares of PRU. Fieldpoint Private Securities LLC purchased a new stake in shares of Prudential Financial in the second quarter valued at approximately $103,000. Grove Bank & Trust grew its position in shares of Prudential Financial by 507.0% in the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 943 shares in the last quarter. Hudock Capital Group LLC grew its position in shares of Prudential Financial by 0.7% in the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 8 shares in the last quarter. Legacy Advisors LLC purchased a new stake in shares of Prudential Financial in the third quarter valued at approximately $129,000. Finally, Zions Bancorporation grew its position in shares of Prudential Financial by 44.9% in the third quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 524 shares in the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.
About Prudential Financial
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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