Wells Fargo & Company Has Lowered Expectations for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its price target decreased by investment analysts at Wells Fargo & Company from $117.00 to $115.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 4.25% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. TD Cowen increased their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Piper Sandler lifted their target price on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Bank of America increased their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Barclays boosted their price objective on shares of Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $127.00.

Prudential Financial Stock Performance

Shares of PRU opened at $120.10 on Tuesday. 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 firm has a market cap of $42.76 billion, a PE ratio of 10.68, a PEG ratio of 0.87 and a beta of 1.31. Prudential Financial has a 1 year low of $100.60 and a 1 year high of $130.55. The stock’s fifty day moving average price is $122.38 and its two-hundred day moving average price is $120.67.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the prior year, the firm earned $3.44 earnings per share. On average, equities research analysts forecast that Prudential Financial will post 13.35 EPS for the current year.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Prudential Financial

A number of hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Prudential Financial in the third quarter worth approximately $31,000. Quarry LP grew its holdings in Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after buying an additional 222 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in Prudential Financial in the 4th quarter valued at $37,000. Tompkins Financial Corp increased its holdings in shares of Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in Prudential Financial by 235.4% during the third quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock valued at $46,000 after buying an additional 266 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.