Prudential Financial (NYSE:PRU) had its target price reduced by equities research analysts at Deutsche Bank from $132.00 to $125.00 in a note issued to investors on Friday. The firm currently has a “hold” rating on the financial services provider’s stock. Deutsche Bank’s price objective would suggest a potential upside of 17.88% from the company’s current price.
PRU has been the topic of several other research reports. Wells Fargo & Co set a $122.00 price objective on shares of Prudential Financial and gave the stock a “hold” rating in a research note on Thursday, December 14th. Atlantic Securities upgraded shares of Prudential Financial from a “neutral” rating to an “overweight” rating in a research note on Thursday, January 11th. Morgan Stanley increased their price objective on shares of Prudential Financial from $123.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. B. Riley reiterated a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. Finally, Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research note on Monday, January 8th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $119.14.
Prudential Financial (PRU) traded up $2.66 on Friday, reaching $106.04. 4,263,772 shares of the company’s stock traded hands, compared to its average volume of 2,242,390. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34. The company has a market cap of $45,640.00, a PE ratio of 5.94, a P/E/G ratio of 1.13 and a beta of 1.49. Prudential Financial has a 1-year low of $97.88 and a 1-year high of $127.14.
Prudential Financial announced that its board has approved a share repurchase program on Thursday, December 14th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
In other Prudential Financial news, EVP Timothy P. Harris sold 10,527 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total transaction of $1,210,605.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Barbara Koster sold 16,801 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total transaction of $1,934,971.17. Following the sale, the senior vice president now owns 37,327 shares in the company, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. APG Asset Management N.V. raised its stake in Prudential Financial by 171.8% during the 3rd quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock worth $287,566,000 after acquiring an additional 1,709,699 shares during the period. Legal & General Group Plc grew its holdings in Prudential Financial by 2.3% during the 3rd quarter. Legal & General Group Plc now owns 2,341,330 shares of the financial services provider’s stock valued at $248,931,000 after buying an additional 52,597 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Prudential Financial by 1.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,994,321 shares of the financial services provider’s stock valued at $229,307,000 after buying an additional 34,046 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Prudential Financial by 0.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,772,276 shares of the financial services provider’s stock valued at $203,776,000 after buying an additional 15,896 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in Prudential Financial by 1.7% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,702,910 shares of the financial services provider’s stock valued at $195,801,000 after buying an additional 28,314 shares in the last quarter. 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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