Barclays Issues Positive Forecast for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its price objective increased by Barclays from $118.00 to $119.00 in a research note published on Friday, Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

PRU has been the topic of a number of other research reports. Bank of America boosted their target price 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. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Piper Sandler boosted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Citigroup boosted their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $123.77.

Prudential Financial Price Performance

NYSE:PRU traded down $1.20 during mid-day trading on Friday, reaching $121.28. The stock had a trading volume of 1,992,051 shares, compared to its average volume of 1,305,887. The stock has a 50-day simple moving average of $121.10 and a two-hundred day simple moving average of $118.25. The stock has a market capitalization of $43.30 billion, a PE ratio of 10.78, a P/E/G ratio of 0.93 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.13. Prudential Financial has a 12 month low of $89.90 and a 12 month high of $128.52.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period last year, the firm posted $3.44 earnings per share. On average, equities analysts anticipate that Prudential Financial will post 13.32 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.29%. Prudential Financial’s payout ratio is 46.22%.

Insider Activity at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Prudential Financial

Several institutional investors have recently made changes to their positions in the stock. Creekmur Asset Management LLC increased its position in shares of Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of Prudential Financial during the second quarter worth about $29,000. Strategic Financial Concepts LLC grew its position in Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 25,027 shares in the last quarter. Crewe Advisors LLC bought a new stake in Prudential Financial in the 1st quarter worth about $33,000. Finally, ESL Trust Services LLC bought a new stake in Prudential Financial in the 1st quarter worth about $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

About Prudential Financial

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.