Mizuho Issues Positive Forecast for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its price objective boosted by equities research analysts at Mizuho from $116.00 to $120.00 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 would suggest a potential downside of 2.44% from the stock’s previous close.

A number of other research analysts have also recently issued reports on PRU. Barclays lifted their price target on shares of Prudential Financial from $94.00 to $98.00 and gave the company an “underweight” rating in a research report on Wednesday, November 4th. Piper Sandler upped their price objective on shares of Prudential Financial from $120.00 to $133.00 and gave the stock a “neutral” rating in a report on Thursday, November 5th. Jefferies Financial Group decreased their target price on shares of Prudential Financial from $116.00 to $109.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Keefe, Bruyette & Woods lowered their target price on shares of Prudential Financial from $123.00 to $119.00 and set a “market perform” rating for the company in a report on Friday, October 16th. Finally, Morgan Stanley dropped their price target on Prudential Financial from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $115.00.

Prudential Financial Price Performance

PRU opened at $123.00 on Thursday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.66. The company has a market cap of $42.19 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.85. The stock has a fifty day simple moving average of $117.26 and a two-hundred day simple moving average of $109.18. Prudential Financial has a 12-month low of $91.89 and a 12-month high of $128.78.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.44. The firm had revenue of $14.45 billion for the quarter, compared to analysts’ expectations of $14.66 billion. Prudential Financial had a net margin of 6.75% and a return on equity of 16.38%. During the same quarter in the previous year, the business posted $4.26 EPS. Research analysts predict that Prudential Financial will post 13.60 earnings per share for the current fiscal year.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann Kappler sold 7,652 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the transaction, the executive vice president owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert E. Boyle sold 2,794 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $121.24, for a total value of $338,744.56. Following the completion of the transaction, the senior vice president directly owned 6,008 shares in the company, valued at $728,409.92. The trade was a 31.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 16,787 shares of company stock valued at $2,062,597. 0.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Prudential Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Orca Investment Management LLC bought a new stake in shares of Prudential Financial during the 2nd quarter valued at $2,605,000. Jones Financial Companies Lllp raised its holdings in Prudential Financial by 21.3% in the 2nd quarter. Jones Financial Companies Lllp now owns 58,436 shares of the financial services provider’s stock worth $6,325,000 after purchasing an additional 10,257 shares during the period. Envestnet Asset Management Inc. raised its holdings in Prudential Financial by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 739,294 shares of the financial services provider’s stock worth $79,792,000 after purchasing an additional 19,451 shares during the period. Raiffeisen Bank International AG lifted its position in Prudential Financial by 7.3% during the second quarter. Raiffeisen Bank International AG now owns 91,566 shares of the financial services provider’s stock valued at $9,999,000 after purchasing an additional 6,237 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Prudential Financial by 379.8% during the second quarter. Assenagon Asset Management S.A. now owns 619,701 shares of the financial services provider’s stock valued at $66,884,000 after purchasing an additional 490,553 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.