Prudential Financial (NYSE:PRU) Raised to “Hold” at Wall Street Zen

Prudential Financial (NYSE:PRU) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Morgan Stanley lifted their price target on Prudential Financial from $108.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Keefe, Bruyette & Woods decreased their price target on Prudential Financial from $120.00 to $117.00 and set a “market perform” rating for the company in a report on Wednesday, May 7th. Finally, UBS Group decreased their target price on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $120.15.

Prudential Financial Trading Down 0.5%

Shares of PRU stock opened at $103.84 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market cap of $36.76 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The company has a 50-day moving average of $103.48 and a two-hundred day moving average of $112.70. Prudential Financial has a 1-year low of $90.38 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The company had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $14.76 billion. During the same period last year, the business posted $3.12 EPS. Prudential Financial’s revenue for the quarter was down 38.2% on a year-over-year basis. On average, analysts predict that Prudential Financial will post 14.36 EPS for the current year.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the acquisition, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. The trade was a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Institutional Trading of Prudential Financial

Several hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. raised its stake in Prudential Financial by 90.2% during the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 111 shares in the last quarter. Cheviot Value Management LLC bought a new stake in shares of Prudential Financial during the 1st quarter worth about $26,000. North Capital Inc. bought a new stake in Prudential Financial during the first quarter worth approximately $28,000. AlphaQuest LLC raised its holdings in Prudential Financial by 12,250.0% during the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 245 shares in the last quarter. Finally, Centricity Wealth Management LLC bought a new stake in Prudential Financial during the fourth quarter worth approximately $29,000. Institutional investors own 56.83% of the company’s stock.

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.