Prudential Financial (NYSE:PRU) Given New $121.00 Price Target at Piper Sandler

Prudential Financial (NYSE:PRU) had its price objective trimmed by Piper Sandler from $125.00 to $121.00 in a report published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

PRU has been the topic of a number of other reports. Evercore ISI upped their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an underperform rating in a report on Thursday, April 25th. Raymond James cut shares of Prudential Financial from a strong-buy rating to a market perform rating in a report on Friday, February 9th. UBS Group increased their target price on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a neutral rating in a report on Monday, February 12th. TheStreet upgraded shares of Prudential Financial from a c+ rating to an a- rating in a report on Tuesday, February 6th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a market perform rating in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat.com, Prudential Financial has a consensus rating of Hold and an average target price of $111.08.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $115.26 on Monday. The firm has a market cap of $41.38 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 0.83 and a beta of 1.35. The firm has a fifty day moving average price of $112.31 and a 200 day moving average price of $104.60. 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 has a fifty-two week low of $77.87 and a fifty-two week high of $118.69.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The business had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. Prudential Financial’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.66 EPS. As a group, sell-side analysts expect that Prudential Financial will post 13.36 earnings per share for the current fiscal year.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the transaction, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Prudential Financial news, SVP Timothy L. Schmidt sold 7,912 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the sale, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the sale, the executive vice president now directly owns 24,381 shares in the company, valued at $2,642,656.59. The disclosure for this sale can be found here. Insiders sold 29,255 shares of company stock valued at $3,215,664 in the last three months. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Prudential Financial

Several hedge funds have recently added to or reduced their stakes in PRU. Cambridge Trust Co. boosted its stake in shares of Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Prudential Financial during the 4th quarter worth about $26,000. Headinvest LLC purchased a new stake in shares of Prudential Financial during the 3rd quarter worth about $27,000. Arlington Trust Co LLC raised its position 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 last quarter. Finally, Riverview Trust Co acquired a new position in shares of Prudential Financial during the 1st quarter worth about $37,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

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.