Prudential Financial (NYSE:PRU) received a $122.00 price objective from equities researchers at Wells Fargo & Company in a note issued to investors on Thursday. The brokerage presently has a “hold” rating on the financial services provider’s stock. Wells Fargo & Company’s price target points to a potential upside of 6.58% from the company’s current price.
A number of other research analysts have also recently commented on the stock. Royal Bank of Canada restated a “hold” rating and set a $117.00 price target on shares of Prudential Financial in a research note on Wednesday, September 6th. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research note on Tuesday, October 10th. Citigroup upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target for the company in a research note on Tuesday, October 17th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a research note on Friday, November 10th. Finally, Morgan Stanley raised their price target on shares of Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $115.78.
Prudential Financial (NYSE:PRU) traded up $0.52 during midday trading on Thursday, hitting $114.47. 1,981,848 shares of the company traded hands, compared to its average volume of 1,843,200. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34. Prudential Financial has a twelve month low of $97.88 and a twelve month high of $117.99. The company has a market capitalization of $49,040.00, a PE ratio of 11.24, a PEG ratio of 1.31 and a beta of 1.55.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The business had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same quarter last year, the company earned $2.66 earnings per share. sell-side analysts predict that Prudential Financial will post 10.44 earnings per share for the current year.
In other news, EVP Timothy P. Harris sold 10,527 shares of Prudential Financial stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total value of $1,210,605.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas C. Silitch sold 44,860 shares of Prudential Financial stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the transaction, the insider now owns 27,927 shares of the company’s stock, valued at approximately $3,121,400.79. The disclosure for this sale can be found here. Insiders sold 100,017 shares of company stock valued at $11,219,151 in the last quarter. 0.66% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of PRU. BlackRock Inc. grew its holdings in Prudential Financial by 2.9% during the 2nd quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock worth $3,585,415,000 after acquiring an additional 934,352 shares during the period. Vanguard Group Inc. grew its holdings in Prudential Financial by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 30,885,285 shares of the financial services provider’s stock worth $3,339,935,000 after acquiring an additional 612,799 shares during the period. Cohen & Steers Inc. acquired a new stake in Prudential Financial during the 2nd quarter worth $718,824,000. Norges Bank acquired a new stake in Prudential Financial during the 4th quarter worth $1,668,046,000. Finally, State Street Corp grew its holdings in Prudential Financial by 10.8% during the 4th quarter. State Street Corp now owns 20,235,854 shares of the financial services provider’s stock worth $2,105,741,000 after acquiring an additional 1,966,517 shares during the period. Institutional investors own 64.65% of the company’s stock.
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Prudential Financial Company Profile
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.