Prudential Financial (NYSE:PRU) PT Raised to $128.00

Prudential Financial (NYSE:PRU) had its price objective upped by JPMorgan Chase & Co. from $118.00 to $128.00 in a research report report published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company lifted their target price on Prudential Financial from $100.00 to $106.00 and gave the stock an underweight rating in a report on Thursday, April 11th. Morgan Stanley boosted their price target on Prudential Financial from $109.00 to $117.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Piper Sandler decreased their target price on shares of Prudential Financial from $125.00 to $121.00 and set a neutral rating on the stock in a report on Monday, May 6th. Evercore ISI boosted their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the company an underperform rating in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a market perform rating in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $115.92.

Prudential Financial Stock Performance

Prudential Financial stock opened at $118.55 on Tuesday. Prudential Financial has a 52 week low of $87.57 and a 52 week high of $121.39. The stock has a market capitalization of $42.56 billion, a P/E ratio of 20.16, a PEG ratio of 0.89 and a beta of 1.34. The stock has a 50-day simple moving average of $116.75 and a 200 day simple moving average of $111.20. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The company had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same period last year, the firm earned $2.66 earnings per share. Analysts expect that Prudential Financial will post 13.41 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.39%. The ex-dividend date was Monday, May 20th. Prudential Financial’s payout ratio is presently 88.44%.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the stock in a transaction dated Thursday, June 20th. The stock was purchased at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the sale, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the stock in a transaction dated Thursday, June 20th. The shares were purchased at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the transaction, the insider now directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Cambridge Trust Co. lifted its stake in Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Prudential Financial in the 4th quarter valued at about $26,000. Headinvest LLC bought a new position in shares of Prudential Financial in the third quarter valued at approximately $27,000. Creekmur Asset Management LLC lifted its holdings in Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares during the period. Finally, Arlington Trust Co LLC raised its stake in shares of Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 185 shares during the period. 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.