Barclays Issues Pessimistic Forecast for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its target price cut by investment analysts at Barclays from $119.00 to $110.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 13.72% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company cut Prudential Financial from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $115.00 to $103.00 in a report on Wednesday, February 25th. Piper Sandler raised Prudential Financial to a “hold” rating in a report on Thursday, April 2nd. Evercore reissued a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. Weiss Ratings cut Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Finally, JPMorgan Chase & Co. decreased their price objective on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating on the stock in a report on Wednesday, February 4th. Nine investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $112.89.

Prudential Financial Price Performance

Shares of NYSE:PRU traded down $0.68 on Wednesday, hitting $96.73. The company’s stock had a trading volume of 1,346,820 shares, compared to its average volume of 2,303,677. The company has a 50-day simple moving average of $99.53 and a 200 day simple moving average of $105.23. Prudential Financial has a 1 year low of $91.89 and a 1 year high of $119.76. The company has a market capitalization of $33.64 billion, a PE ratio of 9.68, a PEG ratio of 1.20 and a beta of 0.95. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The business had revenue of $14.52 billion during the quarter, compared to analysts’ expectations of $14.48 billion. During the same period in the previous year, the business earned $2.96 EPS. Sell-side analysts forecast that Prudential Financial will post 14.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Joseph J. Wolk purchased 400 shares of Prudential Financial stock in a transaction that occurred on Wednesday, February 11th. The shares were acquired at an average cost of $105.32 per share, for a total transaction of $42,128.00. Following the transaction, the director directly owned 400 shares in the company, valued at $42,128. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jacques Chappuis purchased 1,000 shares of Prudential Financial stock in a transaction that occurred on Friday, February 6th. The shares were bought at an average price of $100.97 per share, for a total transaction of $100,970.00. Following the completion of the transaction, the executive vice president owned 1,000 shares in the company, valued at $100,970. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 1,408,389 shares of company stock valued at $35,154,439 in the last 90 days. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On Prudential Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jessup Wealth Management Inc bought a new stake in shares of Prudential Financial in the 4th quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Prudential Financial in the 4th quarter worth approximately $26,000. Salomon & Ludwin LLC grew its position in shares of Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after buying an additional 114 shares during the last quarter. Lodestone Wealth Management LLC bought a new stake in shares of Prudential Financial in the 4th quarter worth approximately $28,000. Finally, Coston McIsaac & Partners grew its position in shares of Prudential Financial by 93.4% in the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after buying an additional 128 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.