Wells Fargo & Company Increases Prudential Financial (NYSE:PRU) Price Target to $117.00

Prudential Financial (NYSE:PRU) had its target price hoisted by Wells Fargo & Company from $116.00 to $117.00 in a research note released on Tuesday, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. Citigroup upped their target price on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Bank of America upped their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. TD Cowen assumed coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective for the company. UBS Group increased their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Barclays boosted their price objective on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $123.85.

Prudential Financial Trading Down 0.4 %

PRU opened at $120.18 on Tuesday. The firm has a market capitalization of $42.78 billion, a P/E ratio of 10.68, a P/E/G ratio of 0.86 and a beta of 1.29. The firm’s 50 day moving average is $121.20 and its 200-day moving average is $118.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial has a 52-week low of $89.90 and a 52-week high of $128.52.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion during 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 period in the prior year, the company posted $3.44 EPS. Analysts expect that Prudential Financial will post 13.32 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.33%. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC boosted its position in shares of Prudential Financial by 165.7% in the 1st quarter. Larson Financial Group LLC now owns 364 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 227 shares during the period. Catalina Capital Group LLC acquired a new position in shares of Prudential Financial in the first quarter worth about $247,000. TFG Advisers LLC raised its holdings in shares of Prudential Financial by 1.3% during the first quarter. TFG Advisers LLC now owns 15,078 shares of the financial services provider’s stock valued at $1,770,000 after acquiring an additional 194 shares during the period. Advisory Services Network LLC lifted its position in shares of Prudential Financial by 20.8% in the 1st quarter. Advisory Services Network LLC now owns 59,934 shares of the financial services provider’s stock valued at $7,036,000 after acquiring an additional 10,321 shares in the last quarter. Finally, Duality Advisers LP purchased a new position in Prudential Financial during the 1st quarter worth approximately $3,735,000. Institutional investors and hedge funds 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.