Prudential Financial (NYSE:PRU) Price Target Raised to $128.00 at Barclays

Prudential Financial (NYSE:PRU) had its price objective boosted by Barclays from $127.00 to $128.00 in a research note released on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts have also weighed in on PRU. Bank of America lifted their price objective on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods reduced their price objective on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research report on Thursday, January 16th. TD Cowen raised their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. 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. Finally, Wells Fargo & Company cut their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $125.31.

Prudential Financial Stock Down 0.5 %

Shares of Prudential Financial stock opened at $116.75 on Thursday. 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 52-week low of $100.60 and a 52-week high of $130.55. The company’s 50 day moving average price is $121.68 and its 200-day moving average price is $120.69. The stock has a market capitalization of $41.56 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 1.11 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion for 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 quarter in the previous year, the company earned $3.44 earnings per share. Equities research analysts forecast that Prudential Financial will post 13.26 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were paid a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.45%. Prudential Financial’s dividend payout ratio is currently 46.22%.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Prudential Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. raised its position in Prudential Financial by 14.4% in the 2nd quarter. Sei Investments Co. now owns 66,187 shares of the financial services provider’s stock worth $7,757,000 after buying an additional 8,334 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Prudential Financial by 20.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 298 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Prudential Financial by 59.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 68,757 shares of the financial services provider’s stock valued at $8,058,000 after purchasing an additional 25,521 shares during the period. AlTi Global Inc. grew its position in Prudential Financial by 9.2% in the 2nd quarter. AlTi Global Inc. now owns 3,381 shares of the financial services provider’s stock worth $396,000 after purchasing an additional 285 shares during the period. Finally, AXA S.A. raised its stake in Prudential Financial by 2.5% during the 2nd quarter. AXA S.A. now owns 43,644 shares of the financial services provider’s stock valued at $5,115,000 after buying an additional 1,077 shares during the last quarter. 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.