Prudential Financial (NYSE:PRU) Price Target Increased to $132.00 by Analysts at Raymond James

by · The Markets Daily

https://www.americanbankingnews.com/wp-content/timthumb/timthumb.php?w=250&h=150&zc=2&src=https://www.marketbeat.com/logos/prudential-financial-inc-logo.jpg
Prudential Financial (NYSE:PRU – Get Free Report) had its target price lifted by equities researchers at Raymond James from $125.00 to $132.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “strong-buy” rating on the financial services provider’s stock. Raymond James’ price objective indicates a potential upside of 30.86% from the company’s current price.

Several other analysts have also issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price target on shares of Prudential Financial in a research report on Friday, September 8th. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $89.00 to $92.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 15th. Jefferies Financial Group raised shares of Prudential Financial from an “underperform” rating to a “hold” rating and boosted their price target for the stock from $70.00 to $93.00 in a research note on Wednesday, September 13th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Prudential Financial in a research note on Wednesday, October 4th. They set a “hold” rating and a $99.00 price target for the company. Finally, StockNews.com began coverage on shares of Prudential Financial in a report on Thursday, October 5th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $103.70.

Check Out Our Latest Analysis on PRU

Prudential Financial Trading Up 1.2 %

Shares of NYSE PRU opened at $100.87 on Thursday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.70. Prudential Financial has a 12 month low of $75.37 and a 12 month high of $107.31. The company has a market cap of $36.41 billion, a price-to-earnings ratio of 65.08, a P/E/G ratio of 0.80 and a beta of 1.38. The business has a fifty day simple moving average of $93.77 and a 200-day simple moving average of $92.16.

Prudential Financial (NYSE:PRU – Get Free Report) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.16 by $0.28. The firm had revenue of $10.13 billion for the quarter, compared to analyst estimates of $12.91 billion. Prudential Financial had a net margin of 1.21% and a return on equity of 16.03%. During the same quarter in the prior year, the business earned $2.13 EPS. Sell-side analysts predict that Prudential Financial will post 11.71 EPS for the current year.

Insider Activity at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 8,281 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $94.49, for a total value of $782,471.69. Following the transaction, the senior vice president now directly owns 14,621 shares in the company, valued at $1,381,538.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Prudential Financial

A number of large investors have recently bought and sold shares of PRU. Woodward Diversified Capital LLC boosted its stake in shares of Prudential Financial by 1.9% in the 2nd quarter. Woodward Diversified Capital LLC now owns 5,830 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 108 shares in the last quarter. PFG Private Wealth Management LLC raised its holdings in Prudential Financial by 6.6% in the 2nd quarter. PFG Private Wealth Management LLC now owns 1,794 shares of the financial services provider’s stock valued at $158,000 after buying an additional 111 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in Prudential Financial by 1.5% in the 2nd quarter. Hilltop Holdings Inc. now owns 7,917 shares of the financial services provider’s stock valued at $698,000 after buying an additional 116 shares during the last quarter. Retirement Planning Co of New England Inc. raised its holdings in Prudential Financial by 3.1% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 3,950 shares of the financial services provider’s stock valued at $348,000 after buying an additional 118 shares during the last quarter. Finally, Northwest Bancshares Inc. raised its holdings in Prudential Financial by 3.2% in the 2nd quarter. Northwest Bancshares Inc. now owns 3,888 shares of the financial services provider’s stock valued at $343,000 after buying an additional 119 shares during the last quarter. 54.92% of the stock is currently owned by institutional investors and hedge funds.

About Prudential Financial

(Get Free Report)

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, and International Businesses segments.

See Also