Morgan Stanley Raises Prudential Financial (NYSE:PRU) Price Target to $105.00

Prudential Financial (NYSE:PRU) had its price objective increased by stock analysts at Morgan Stanley from $92.00 to $105.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential downside of 13.67% from the stock’s current price.

PRU has been the subject of a number of other reports. Jefferies Financial Group boosted their price target on Prudential Financial from $105.00 to $110.00 and gave the company a “hold” rating in a report on Friday, July 10th. TD Cowen increased their target price on Prudential Financial from $102.00 to $114.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Wells Fargo & Company increased their target price on shares of Prudential Financial from $103.00 to $110.00 and gave the company an “underweight” rating in a research report on Wednesday, August 19th. Zacks Research raised shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Finally, Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $109.31.

Prudential Financial Stock Performance

Shares of NYSE:PRU traded up $0.47 during trading on Monday, hitting $121.62. The stock had a trading volume of 485,595 shares, compared to its average volume of 2,115,690. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62. Prudential Financial has a 12-month low of $91.89 and a 12-month high of $127.72. The stock has a market capitalization of $41.96 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 2.29 and a beta of 0.84. The stock has a 50-day simple moving average of $116.66 and a two-hundred day simple moving average of $105.67.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.36 billion. During the same quarter in the prior year, the firm earned $3.58 earnings per share. On average, equities research analysts expect that Prudential Financial will post 14.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total value of $5,314,963.50. Following the completion of the transaction, the insider directly owned 7,973,657 shares in the company, valued at approximately $197,348,010.75. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ann M. Kappler sold 7,652 shares of Prudential Financial stock in a transaction on Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the sale, the executive vice president owned 14,407 shares in the company, valued at $1,801,019.07. This represents a 34.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PRU. Jessup Wealth Management Inc acquired a new stake in shares of Prudential Financial during the fourth quarter valued at about $25,000. Archer Investment Corp acquired a new position in shares of Prudential Financial in the 2nd quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Prudential Financial during the 4th quarter worth approximately $26,000. SJS Investment Consulting Inc. increased its holdings in Prudential Financial by 93.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 134 shares during the last quarter. Finally, Coston McIsaac & Partners raised its position in Prudential Financial by 93.4% in the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

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.