Prudential Financial, Inc. (NYSE:PRU) had its target price upped by equities researchers at Morgan Stanley from $123.00 to $124.00 in a note issued to investors on Thursday. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 12.26% from the company’s current price.

PRU has been the subject of a number of other research reports. BidaskClub cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Prudential Financial in a research note on Wednesday, October 18th. They set a “neutral” rating and a $114.00 target price for the company. FBR & Co upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $117.00 to $100.00 in a research note on Tuesday, October 10th. Finally, Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research note on Tuesday, October 10th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $114.64.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.30. The company had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $12.24 billion. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. During the same quarter last year, the company posted $2.66 EPS.

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In other news, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the transaction, the insider now owns 10,924 shares in the company, valued at approximately $1,225,454.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas C. Silitch sold 14,897 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the completion of the transaction, the insider now owns 21,274 shares in the company, valued at approximately $2,340,140. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PRU. Fieldpoint Private Securities LLC acquired a new position in shares of Prudential Financial during the 2nd quarter valued at $103,000. Hudock Capital Group LLC lifted its position in shares of Prudential Financial by 0.7% during the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 8 shares during the period. Legacy Advisors LLC acquired a new position in shares of Prudential Financial during the 3rd quarter valued at $129,000. Accurate Investment Solutions Inc. lifted its position in shares of Prudential Financial by 2.3% during the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock valued at $180,000 after acquiring an additional 38 shares during the period. Finally, Advisory Services Network LLC lifted its position in shares of Prudential Financial by 128.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock valued at $184,000 after acquiring an additional 957 shares during the period. Hedge funds and other institutional investors own 64.88% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

Analyst Recommendations for Prudential Financial (NYSE:PRU)

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