Barclays Has Lowered Expectations for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRUGet Free Report) had its price target reduced by equities research analysts at Barclays from $129.00 to $127.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 6.74% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company lowered their target price on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group lifted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler decreased their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday. TD Cowen lifted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $127.25.

Check Out Our Latest Stock Report on PRU

Prudential Financial Stock Up 0.5 %

NYSE:PRU opened at $118.98 on Friday. The company’s 50-day simple moving average is $122.06 and its 200-day simple moving average is $120.66. The stock has a market capitalization of $42.36 billion, a P/E ratio of 10.58, a P/E/G ratio of 0.75 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial has a fifty-two week low of $100.60 and a fifty-two week high of $130.55.

Prudential Financial (NYSE:PRUGet Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion during 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 business earned $3.44 EPS. On average, equities analysts anticipate that Prudential Financial will post 13.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Prudential Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRU. Glenmede Trust Co. NA boosted its stake in Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after purchasing an additional 1,234 shares during the last quarter. Avanza Fonder AB acquired a new stake in Prudential Financial during the 4th quarter worth $3,423,000. Gateway Investment Advisers LLC boosted its stake in Prudential Financial by 56.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after purchasing an additional 7,907 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Prudential Financial by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after purchasing an additional 15,695 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Prudential Financial by 2.3% during the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock worth $9,597,000 after purchasing an additional 1,765 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

About Prudential Financial

(Get Free Report)

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.

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