Wells Fargo & Company Lowers Prudential Financial (NYSE:PRU) Price Target to $97.00

Prudential Financial (NYSE:PRUGet Rating) had its target price dropped by equities research analysts at Wells Fargo & Company from $101.00 to $97.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 0.06% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Morgan Stanley increased their price target on Prudential Financial from $112.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 10th. Barclays reduced their price target on Prudential Financial from $106.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 10th. Citigroup raised their price objective on Prudential Financial from $98.00 to $105.00 in a research report on Wednesday, November 16th. Piper Sandler cut their price objective on Prudential Financial from $110.00 to $106.00 and set a “neutral” rating for the company in a research report on Tuesday, December 20th. Finally, The Goldman Sachs Group cut Prudential Financial from a “neutral” rating to a “sell” rating and cut their price objective for the company from $98.00 to $96.00 in a research report on Monday, January 9th. Four equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $105.23.

Prudential Financial Stock Down 1.7 %

PRU stock opened at $96.94 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a market capitalization of $36.06 billion, a P/E ratio of 134.64 and a beta of 1.41. The business has a 50-day moving average of $102.55 and a 200-day moving average of $98.88. Prudential Financial has a fifty-two week low of $85.46 and a fifty-two week high of $124.22.

Prudential Financial (NYSE:PRUGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The financial services provider reported $2.13 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.08). Prudential Financial had a net margin of 0.52% and a return on equity of 10.20%. The company had revenue of $21.61 billion for the quarter, compared to analyst estimates of $12.76 billion. On average, sell-side analysts anticipate that Prudential Financial will post 10.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Prudential Financial news, SVP Timothy L. Schmidt sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $103.55, for a total transaction of $207,100.00. Following the transaction, the senior vice president now owns 16,198 shares in the company, valued at approximately $1,677,302.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Timothy L. Schmidt sold 2,000 shares of Prudential Financial stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $103.55, for a total value of $207,100.00. Following the transaction, the senior vice president now owns 16,198 shares in the company, valued at approximately $1,677,302.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ann M. Kappler sold 3,609 shares of Prudential Financial stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $108.62, for a total value of $392,009.58. Following the completion of the transaction, the executive vice president now owns 9,779 shares in the company, valued at approximately $1,062,194.98. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Total Clarity Wealth Management Inc. acquired a new stake in shares of Prudential Financial during the 2nd quarter valued at $25,000. Wagner Wealth Management LLC acquired a new stake in shares of Prudential Financial during the 2nd quarter valued at $26,000. Pacific Center for Financial Services acquired a new stake in shares of Prudential Financial during the 2nd quarter valued at $31,000. Fairfield Bush & CO. acquired a new stake in shares of Prudential Financial during the 1st quarter valued at $36,000. Finally, Exos TFP Holdings LLC acquired a new stake in shares of Prudential Financial during the 3rd quarter valued at $36,000. Institutional investors own 56.33% of the company’s stock.

Prudential Financial Company Profile

(Get Rating)

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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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