Mizuho Forecasts Strong Price Appreciation for Prudential Financial (NYSE:PRU) Stock

Prudential Financial (NYSE:PRU) had its price target lifted by research analysts at Mizuho from $101.00 to $109.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Mizuho’s target price indicates a potential downside of 4.46% from the company’s previous close.

Several other research firms have also recently commented on PRU. UBS Group reduced their target price on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Argus downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Jefferies Financial Group cut shares of Prudential Financial from a “buy” rating to a “hold” rating and cut their target price for the stock from $124.00 to $98.00 in a report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Prudential Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Finally, Barclays raised their price target on shares of Prudential Financial from $90.00 to $92.00 and gave the stock an “underweight” rating in a report on Tuesday. Eleven research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $102.75.

Prudential Financial Trading Up 1.3%

Shares of Prudential Financial stock opened at $114.08 on Thursday. The stock has a fifty day moving average price of $104.84 and a 200-day moving average price of $104.02. 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 has a 1 year low of $91.89 and a 1 year high of $119.76. The firm has a market cap of $39.59 billion, a PE ratio of 11.73, a P/E/G ratio of 2.10 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $14.10 billion. During the same quarter in the prior year, the business earned $3.29 earnings per share. Equities research analysts anticipate that Prudential Financial will post 13.81 EPS for the current year.

Institutional Investors Weigh In On Prudential Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. VCI Wealth Management LLC increased its position in Prudential Financial by 117.1% during the 4th quarter. VCI Wealth Management LLC now owns 19,292 shares of the financial services provider’s stock valued at $2,178,000 after buying an additional 10,404 shares in the last quarter. KBC Group NV grew its stake in shares of Prudential Financial by 94.3% in the fourth quarter. KBC Group NV now owns 157,538 shares of the financial services provider’s stock worth $17,783,000 after acquiring an additional 76,461 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich increased its holdings in shares of Prudential Financial by 2,669.0% during the fourth quarter. Munich Reinsurance Co Stock Corp in Munich now owns 46,990 shares of the financial services provider’s stock valued at $5,342,000 after acquiring an additional 45,293 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Prudential Financial by 9.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 171,486 shares of the financial services provider’s stock worth $19,357,000 after purchasing an additional 14,327 shares in the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. grew its position in Prudential Financial by 846.7% during the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 25,921 shares of the financial services provider’s stock valued at $2,926,000 after purchasing an additional 23,183 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other 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.