Keefe, Bruyette & Woods Boosts Prudential Financial (NYSE:PRU) Price Target to $106.00

Prudential Financial (NYSE:PRU) had its target price hoisted by stock analysts at Keefe, Bruyette & Woods from $100.00 to $106.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 2.73% from the stock’s previous close.

A number of other equities research analysts have also commented on the stock. Wells Fargo & Company upped their price target on shares of Prudential Financial from $93.00 to $100.00 and gave the company an “underweight” rating in a report on Tuesday. Zacks Research downgraded shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Bank of America cut their target price on Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. BMO Capital Markets reduced their price target on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a report on Thursday, April 23rd. Finally, Jefferies Financial Group cut Prudential Financial from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $124.00 to $98.00 in a report on Wednesday, April 22nd. Nine equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $101.50.

Prudential Financial Trading Up 0.6%

Shares of NYSE PRU traded up $0.61 during midday trading on Wednesday, reaching $103.19. The company had a trading volume of 229,241 shares, compared to its average volume of 2,318,653. The stock has a market cap of $35.81 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.83 and a beta of 0.86. Prudential Financial has a one year low of $91.89 and a one year high of $119.76. The firm’s fifty day moving average price is $96.93 and its 200-day moving average price is $104.56. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The business had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $14.10 billion. During the same period in the previous year, the firm earned $3.29 EPS. On average, equities research analysts anticipate that Prudential Financial will post 13.72 earnings per share for the current year.

Insider Activity at Prudential Financial

In other news, Director Thomas D. Stoddard purchased 250 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average cost of $102.97 per share, for a total transaction of $25,742.50. Following the completion of the transaction, the director directly owned 250 shares of the company’s stock, valued at $25,742.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.05% of the stock is currently owned by insiders.

Institutional Trading of Prudential Financial

Hedge funds have recently modified their holdings of the business. Westpac Banking Corp grew its position in shares of Prudential Financial by 201.8% in the 1st quarter. Westpac Banking Corp now owns 5,390 shares of the financial services provider’s stock worth $527,000 after buying an additional 3,604 shares during the period. Phillip James Consulting Co. lifted its position in Prudential Financial by 192.0% during the 1st quarter. Phillip James Consulting Co. now owns 622 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 409 shares during the period. ABN Amro Investment Solutions boosted its stake in Prudential Financial by 16.6% during the first quarter. ABN Amro Investment Solutions now owns 16,101 shares of the financial services provider’s stock worth $1,573,000 after acquiring an additional 2,291 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new stake in Prudential Financial during the first quarter worth about $364,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in Prudential Financial in the first quarter worth about $65,000. Institutional investors own 56.83% of the company’s stock.

About Prudential Financial

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.