TD Cowen Raises Prudential Financial (NYSE:PRU) Price Target to $133.00

Prudential Financial (NYSE:PRU) had its target price lifted by research analysts at TD Cowen from $130.00 to $133.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s target price would indicate a potential upside of 2.67% from the company’s current price.

Other research analysts have also issued reports about the stock. Bank of America increased their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Morgan Stanley decreased their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Barclays increased their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, UBS Group increased their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $125.92.

Prudential Financial Trading Up 0.3 %

NYSE PRU traded up $0.43 during trading on Wednesday, hitting $129.54. The company had a trading volume of 274,818 shares, compared to its average volume of 1,495,969. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial has a one year low of $95.10 and a one year high of $130.55. The company has a market cap of $46.12 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. The company’s fifty day moving average is $123.72 and its 200-day moving average is $119.89.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period in the prior year, the business earned $3.44 EPS. On average, sell-side analysts predict that Prudential Financial will post 13.33 earnings per share for the current year.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 6.61 % increase 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 Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Lynx Investment Advisory purchased a new position in shares of Prudential Financial in the second quarter worth approximately $29,000. Ashton Thomas Securities LLC purchased a new position in Prudential Financial during the third quarter valued at approximately $31,000. Quarry LP lifted its holdings in Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares in the last quarter. Bank & Trust Co purchased a new position in Prudential Financial during the second quarter valued at approximately $37,000. Finally, Hobbs Group Advisors LLC purchased a new position in Prudential Financial during the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.