Prudential Financial (NYSE:PRU) Given New $119.00 Price Target at UBS Group

Prudential Financial (NYSE:PRU) had its price objective increased by UBS Group from $112.00 to $119.00 in a report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the company. Citigroup lifted their price objective on Prudential Financial from $104.00 to $120.00 and gave the company a neutral rating in a report on Tuesday, July 23rd. Piper Sandler dropped their price target on Prudential Financial from $125.00 to $121.00 and set a neutral rating for the company in a research note on Monday, May 6th. Jefferies Financial Group reduced their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a buy rating on the stock in a research note on Friday, June 28th. Wells Fargo & Company raised shares of Prudential Financial from an underweight rating to an equal weight rating and set a $113.00 price target for the company in a report on Monday. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Prudential Financial from $118.00 to $121.00 and gave the company a market perform rating in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Prudential Financial currently has an average rating of Hold and an average price target of $119.42.

Prudential Financial Stock Up 1.0 %

Shares of PRU opened at $109.50 on Tuesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $39.09 billion, a PE ratio of 18.62, a P/E/G ratio of 0.83 and a beta of 1.34. The firm’s 50 day moving average is $118.01 and its 200-day moving average is $114.37. Prudential Financial has a 12 month low of $87.95 and a 12 month high of $128.52.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date is Tuesday, August 20th. Prudential Financial’s payout ratio is 88.44%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were bought at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the acquisition, the insider now owns 3,883,390 shares in the company, valued at $107,065,062.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Prudential Financial

A number of hedge funds have recently made changes to their positions in PRU. Sequoia Financial Advisors LLC boosted its stake in shares of Prudential Financial by 77.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 7,355 shares of the financial services provider’s stock valued at $763,000 after purchasing an additional 3,220 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Prudential Financial during the fourth quarter valued at $2,261,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Prudential Financial during the 4th quarter worth about $214,000. Capital Analysts LLC acquired a new position in shares of Prudential Financial in the 4th quarter valued at about $46,000. Finally, SVB Wealth LLC boosted its position in shares of Prudential Financial by 1.8% during the 4th quarter. SVB Wealth LLC now owns 16,233 shares of the financial services provider’s stock valued at $1,683,000 after purchasing an additional 293 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

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.