Prudential Financial (NYSE:PRU) had its price target cut by Morgan Stanley from $108.00 to $106.00 in a research report report published on Tuesday, Stock Target Advisor reports. They currently have an equal weight rating on the financial services provider’s stock.
A number of other equities research analysts also recently issued reports on PRU. Barclays set a $108.00 price target on shares of Prudential Financial and gave the company a buy rating in a research note on Monday, August 12th. Goldman Sachs Group assumed coverage on shares of Prudential Financial in a research note on Tuesday, October 29th. They issued a buy rating on the stock. ValuEngine raised shares of Prudential Financial from a strong sell rating to a sell rating in a research note on Wednesday, September 25th. HSBC reissued a buy rating on shares of Prudential Financial in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Prudential Financial from $115.00 to $110.00 and set an overweight rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $96.81.
Shares of Prudential Financial stock traded up $1.05 on Tuesday, reaching $92.89. The company had a trading volume of 3,690,219 shares, compared to its average volume of 2,111,428. The firm’s 50 day moving average price is $89.97 and its two-hundred day moving average price is $93.72. The firm has a market cap of $37.00 billion, a PE ratio of 7.95, a PEG ratio of 0.85 and a beta of 1.57. Prudential Financial has a 52-week low of $75.61 and a 52-week high of $106.39. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.11 and a current ratio of 0.11.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.15. The business had revenue of $12.93 billion for the quarter, compared to the consensus estimate of $14.27 billion. Prudential Financial had a net margin of 6.67% and a return on equity of 8.45%. During the same period in the previous year, the firm earned $3.15 EPS. As a group, sell-side analysts predict that Prudential Financial will post 11.98 EPS for the current year.
In other Prudential Financial news, CFO Kenneth Tanji bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $83.84 per share, with a total value of $209,600.00. Following the purchase, the chief financial officer now directly owns 19,285 shares in the company, valued at $1,616,854.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles F. Lowrey bought 7,500 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average cost of $83.68 per share, for a total transaction of $627,600.00. Following the completion of the purchase, the chief executive officer now owns 64,263 shares in the company, valued at $5,377,527.84. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 13,580 shares of company stock worth $1,137,848. 0.76% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Atlantic Union Bankshares Corp acquired a new position in Prudential Financial during the 2nd quarter worth approximately $2,669,000. Goelzer Investment Management Inc. grew its holdings in Prudential Financial by 0.9% during the 2nd quarter. Goelzer Investment Management Inc. now owns 96,523 shares of the financial services provider’s stock worth $9,749,000 after acquiring an additional 874 shares in the last quarter. Naples Global Advisors LLC grew its holdings in Prudential Financial by 7.1% during the 2nd quarter. Naples Global Advisors LLC now owns 7,364 shares of the financial services provider’s stock worth $744,000 after acquiring an additional 490 shares in the last quarter. Monument Capital Management boosted its holdings in shares of Prudential Financial by 2.4% in the 2nd quarter. Monument Capital Management now owns 22,227 shares of the financial services provider’s stock valued at $2,268,000 after buying an additional 516 shares in the last quarter. Finally, Coastal Capital Group Inc. acquired a new position in shares of Prudential Financial in the 2nd quarter valued at $25,000. 62.75% of the stock is currently owned by hedge funds and other institutional investors.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
Further Reading: Price to Earnings Ratio (PE) Basics
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