Prudential Financial (NYSE:PRU) PT Lowered to $121.00 at Piper Sandler

Prudential Financial (NYSE:PRU) had its target price cut by Piper Sandler from $125.00 to $121.00 in a report published on Monday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the stock. Raymond James downgraded shares of Prudential Financial from a strong-buy rating to a market perform rating in a research note on Friday, February 9th. Morgan Stanley lifted their target price on Prudential Financial from $109.00 to $117.00 and gave the company an equal weight rating in a research report on Monday, April 15th. Wells Fargo & Company raised their price objective on Prudential Financial from $100.00 to $106.00 and gave the stock an underweight rating in a research report on Thursday, April 11th. TheStreet raised shares of Prudential Financial from a c+ rating to an a- rating in a research report on Tuesday, February 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the company a market perform rating in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $111.08.

Prudential Financial Trading Up 0.4 %

PRU opened at $116.72 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The company’s 50 day simple moving average is $112.48 and its two-hundred day simple moving average is $104.78. The firm has a market capitalization of $41.90 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 0.83 and a beta of 1.35. Prudential Financial has a 1-year low of $77.87 and a 1-year high of $118.69.

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

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be issued a $1.30 dividend. The ex-dividend date is Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.46%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insiders Place Their Bets

In related news, EVP Andrew F. Sullivan sold 7,685 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total value of $857,415.45. Following the sale, the executive vice president now owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the transaction, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Andrew F. Sullivan sold 7,685 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the sale, the executive vice president now directly owns 13,691 shares in the company, valued at approximately $1,527,504.87. The disclosure for this sale can be found here. Insiders have sold a total of 29,255 shares of company stock worth $3,215,664 in the last quarter. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Prudential Financial

Several hedge funds have recently added to or reduced their stakes in PRU. Private Wealth Advisors LLC acquired a new stake in shares of Prudential Financial during the first quarter worth about $209,000. Bleakley Financial Group LLC grew its stake in Prudential Financial by 3.2% during the 1st quarter. Bleakley Financial Group LLC now owns 8,649 shares of the financial services provider’s stock worth $1,015,000 after buying an additional 272 shares during the last quarter. Russell Investments Group Ltd. increased its position in Prudential Financial by 25.0% during the first quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock worth $21,171,000 after buying an additional 36,159 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Prudential Financial by 5.2% in the first quarter. QRG Capital Management Inc. now owns 14,876 shares of the financial services provider’s stock valued at $1,746,000 after acquiring an additional 737 shares during the period. Finally, Verus Capital Partners LLC purchased a new position in shares of Prudential Financial during the first quarter worth approximately $201,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

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.