Prudential Financial (NYSE:PRU) Given New $121.00 Price Target at Piper Sandler

Prudential Financial (NYSE:PRU) had its price target reduced by equities researchers at Piper Sandler from $125.00 to $121.00 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 7.79% from the company’s previous close.

Several other analysts have also recently issued reports on PRU. Evercore ISI increased their price objective on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. Raymond James cut Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Morgan Stanley raised their price target on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, UBS Group raised their price target on Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $111.08.

Prudential Financial Trading Up 0.9 %

PRU opened at $112.26 on Monday. Prudential Financial has a 52 week low of $77.22 and a 52 week high of $118.69. The business has a fifty day simple moving average of $112.14 and a 200-day simple moving average of $104.45. The firm has a market cap of $40.30 billion, a P/E ratio of 19.09, a P/E/G ratio of 0.83 and a beta of 1.35. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). The company had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The firm’s revenue was up 69.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.66 earnings per share. On average, equities analysts expect that Prudential Financial will post 13.36 earnings per share for the current year.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the sale, the senior vice president now owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the sale, the senior vice president now directly owns 14,754 shares in the company, valued at approximately $1,595,350.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the sale, the senior vice president now owns 7,901 shares of the company’s stock, valued at $883,805.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,255 shares of company stock valued at $3,215,664. 0.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Prudential Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Trust Co. raised its position in shares of Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Prudential Financial during the 4th quarter worth approximately $26,000. Headinvest LLC acquired a new position in Prudential Financial in the 3rd quarter valued at $27,000. Arlington Trust Co LLC raised its holdings in Prudential Financial by 151.6% in the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 185 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in Prudential Financial in the 1st quarter valued at $37,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

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.