Piper Sandler Cuts Prudential Financial (NYSE:PRU) Price Target to $110.00

Prudential Financial (NYSE:PRU) had its price target reduced by equities researchers at Piper Sandler from $122.00 to $110.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 8.61% from the stock’s current price.

A number of other research firms have also recently commented on PRU. JPMorgan Chase & Co. cut their price target on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. BMO Capital Markets started coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. Wells Fargo & Company dropped their price objective on Prudential Financial from $118.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Morgan Stanley decreased their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $125.00 to $120.00 and set a “market perform” rating for the company in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $121.85.

Prudential Financial Stock Down 0.2 %

Shares of PRU stock traded down $0.15 during trading hours on Tuesday, hitting $101.28. 258,222 shares of the company’s stock traded hands, compared to its average volume of 1,591,903. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock’s fifty day simple moving average is $108.73 and its two-hundred day simple moving average is $117.42. Prudential Financial has a 12-month low of $90.38 and a 12-month high of $130.55. The stock has a market cap of $35.90 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, analysts expect that Prudential Financial will post 14.36 EPS for the current year.

Insider Activity at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at $2,869,090.56. The trade was a 18.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were purchased at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the purchase, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. This trade represents a 60.18 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Prudential Financial

Institutional investors have recently bought and sold shares of the business. Accurate Wealth Management LLC boosted its stake in shares of Prudential Financial by 15.8% in the first quarter. Accurate Wealth Management LLC now owns 7,802 shares of the financial services provider’s stock worth $871,000 after acquiring an additional 1,064 shares during the period. GAMMA Investing LLC grew its holdings in Prudential Financial by 1.9% during the 1st quarter. GAMMA Investing LLC now owns 7,771 shares of the financial services provider’s stock valued at $868,000 after buying an additional 145 shares in the last quarter. International Private Wealth Advisors LLC lifted its holdings in shares of Prudential Financial by 6.8% in the first quarter. International Private Wealth Advisors LLC now owns 3,218 shares of the financial services provider’s stock worth $359,000 after buying an additional 205 shares in the last quarter. Tounjian Advisory Partners LLC purchased a new position in Prudential Financial during the first quarter valued at $1,492,000. Finally, Farther Finance Advisors LLC increased its holdings in Prudential Financial by 17.1% in the 1st quarter. Farther Finance Advisors LLC now owns 12,141 shares of the financial services provider’s stock valued at $1,356,000 after acquiring an additional 1,769 shares during the last quarter. Hedge funds and other 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.