Piper Sandler Issues Pessimistic Forecast for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its price objective lowered by equities research analysts at Piper Sandler from $127.00 to $124.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective suggests a potential upside of 4.22% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Bank of America lifted their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group boosted their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company decreased their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday. TD Cowen raised their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Eleven 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $127.25.

Prudential Financial Trading Up 0.5 %

PRU opened at $118.98 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $42.36 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 0.75 and a beta of 1.31. The business has a fifty day moving average price of $122.12 and a 200 day moving average price of $120.65. Prudential Financial has a 12 month low of $100.60 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $3.44 EPS. Sell-side analysts expect that Prudential Financial will post 13.34 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its position in shares of Prudential Financial by 4,130.8% in the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after purchasing an additional 1,267,571 shares during the period. Nordea Investment Management AB grew its holdings in Prudential Financial by 176.8% in the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after buying an additional 665,180 shares during the period. AQR Capital Management LLC increased its stake in shares of Prudential Financial by 97.4% during the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after acquiring an additional 357,300 shares during the last quarter. FMR LLC lifted its holdings in shares of Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after acquiring an additional 344,254 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Prudential Financial by 4.1% in the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after acquiring an additional 341,787 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

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.