Prudential Financial (NYSE:PRU) Price Target Cut to $141.00

Prudential Financial (NYSE:PRU) had its price objective decreased by Jefferies Financial Group from $143.00 to $141.00 in a report issued on Friday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on PRU. 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 lifted their price target on Prudential Financial from $109.00 to $117.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Evercore ISI lifted their price target on Prudential Financial from $115.00 to $116.00 and gave the stock an underperform rating in a research report on Thursday, April 25th. 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 report on Monday, May 6th. Finally, Keefe, Bruyette & Woods lifted their price target on 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 research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of Hold and an average target price of $115.08.

Prudential Financial Trading Up 0.3 %

Shares of PRU stock opened at $117.53 on Friday. Prudential Financial has a 12-month low of $87.57 and a 12-month high of $121.39. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. The stock’s 50-day moving average price is $116.38 and its 200-day moving average price is $110.96. The stock has a market capitalization of $42.19 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 0.88 and a beta of 1.34.

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

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

Insider Activity

In other news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the sale, the senior vice president now owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the transaction, the executive vice president now owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Large investors have recently bought and sold shares of the business. Cambridge Trust Co. raised its stake in Prudential Financial by 77.2% in the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after buying an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in Prudential Financial in the fourth quarter worth approximately $26,000. Headinvest LLC acquired a new position in shares of Prudential Financial during the third quarter worth $27,000. Creekmur Asset Management LLC increased its position in shares of 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 purchasing an additional 108 shares in the last quarter. Finally, Arlington Trust Co LLC increased its position in shares of Prudential Financial by 151.6% during the fourth 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 in the last quarter. Institutional investors own 56.83% of the company’s stock.

About Prudential Financial

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.