Prudential Financial (NYSE:PRU) had its target price lowered by analysts at Morgan Stanley from $133.00 to $131.00 in a research note issued on Thursday. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 20.60% from the company’s current price.
A number of other research firms have also commented on PRU. Atlantic Securities upgraded Prudential Financial from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 11th. Sandler O’Neill restated a “buy” rating and set a $134.00 price target on shares of Prudential Financial in a research report on Thursday, January 11th. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research report on Monday, January 8th. Keefe, Bruyette & Woods restated a “buy” rating and set a $127.00 price target on shares of Prudential Financial in a research report on Thursday, December 21st. Finally, ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 5th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Prudential Financial has an average rating of “Buy” and an average target price of $119.85.
Prudential Financial (NYSE PRU) traded down $2.55 during mid-day trading on Thursday, hitting $108.62. The stock had a trading volume of 917,161 shares, compared to its average volume of 2,028,897. Prudential Financial has a 52 week low of $97.88 and a 52 week high of $127.14. The company has a market cap of $47,059.76, a price-to-earnings ratio of 10.93, a P/E/G ratio of 1.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.13 and a current ratio of 0.13.
Prudential Financial declared that its Board of Directors has approved a share buyback plan on Thursday, December 14th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other Prudential Financial news, EVP Timothy P. Harris sold 10,527 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total value of $1,210,605.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Barbara Koster sold 16,801 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $115.17, for a total value of $1,934,971.17. Following the completion of the transaction, the senior vice president now owns 37,327 shares in the company, valued at $4,298,950.59. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. New Mexico Educational Retirement Board lifted its stake in shares of Prudential Financial by 3.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 41,031 shares of the financial services provider’s stock valued at $4,718,000 after purchasing an additional 1,200 shares during the period. Roosevelt Investment Group Inc. lifted its stake in shares of Prudential Financial by 0.9% in the 4th quarter. Roosevelt Investment Group Inc. now owns 111,987 shares of the financial services provider’s stock valued at $12,876,000 after purchasing an additional 962 shares during the period. Carnick & Kubik Group LLC acquired a new position in shares of Prudential Financial in the 4th quarter valued at $5,142,000. Pegasus Partners Ltd. raised its stake in Prudential Financial by 31.7% during the 4th quarter. Pegasus Partners Ltd. now owns 12,224 shares of the financial services provider’s stock worth $1,406,000 after buying an additional 2,944 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its stake in Prudential Financial by 168.5% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 135,037 shares of the financial services provider’s stock worth $15,527,000 after buying an additional 84,744 shares during the period. Hedge funds and other institutional investors own 64.35% 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.
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