Mizuho Begins Coverage on Prudential Financial (NYSE:PRU)

Analysts at Mizuho assumed coverage on shares of Prudential Financial (NYSE:PRU) in a research report issued on Tuesday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $125.00 price target on the financial services provider’s stock. Mizuho’s target price would suggest a potential upside of 8.10% from the company’s previous close.

Several other brokerages also recently commented on PRU. Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wolfe Research initiated coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Keefe, Bruyette & Woods increased their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prudential Financial in a research note on Monday, December 8th. Finally, Morgan Stanley increased their price target on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Eleven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $116.80.

Prudential Financial Stock Down 1.2%

Shares of PRU opened at $115.64 on Tuesday. The firm has a 50 day simple moving average of $106.47 and a two-hundred day simple moving average of $105.64. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial has a one year low of $90.38 and a one year high of $123.88. The company has a market cap of $40.47 billion, a P/E ratio of 15.88, a P/E/G ratio of 0.96 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.The company had revenue of $8.35 billion for the quarter. Research analysts forecast that Prudential Financial will post 14.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Caroline Feeney sold 6,555 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $116.28, for a total value of $762,215.40. Following the sale, the executive vice president directly owned 22,523 shares in the company, valued at $2,618,974.44. This represents a 22.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Timothy L. Schmidt sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total transaction of $861,520.00. Following the transaction, the senior vice president owned 11,535 shares of the company’s stock, valued at approximately $1,242,204.15. The trade was a 40.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,719 shares of company stock valued at $6,796,067 over the last ninety days. 0.25% of the stock is owned by company insiders.

Institutional Trading of Prudential Financial

A number of institutional investors have recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 133 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Prudential Financial by 8.6% in the first quarter. Steward Partners Investment Advisory LLC now owns 43,974 shares of the financial services provider’s stock worth $4,911,000 after purchasing an additional 3,496 shares in the last quarter. Brooklyn Investment Group lifted its stake in Prudential Financial by 23.0% in the first quarter. Brooklyn Investment Group now owns 1,637 shares of the financial services provider’s stock valued at $183,000 after buying an additional 306 shares during the period. Aptus Capital Advisors LLC boosted its holdings in shares of Prudential Financial by 4.8% during the 1st quarter. Aptus Capital Advisors LLC now owns 7,306 shares of the financial services provider’s stock worth $816,000 after buying an additional 336 shares in the last quarter. Finally, Korea Investment CORP grew its position in shares of Prudential Financial by 3.7% during the 1st quarter. Korea Investment CORP now owns 268,566 shares of the financial services provider’s stock worth $29,993,000 after buying an additional 9,630 shares during the period. Institutional investors own 56.83% of the company’s stock.

About Prudential Financial

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 Life, and International Businesses segments.