Piper Sandler Boosts Prudential Financial (NYSE:PRU) Price Target to $120.00

Prudential Financial (NYSE:PRU) had its target price increased by investment analysts at Piper Sandler from $110.00 to $120.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 4.76% from the stock’s previous close.

PRU has been the topic of several other research reports. Evercore ISI lifted their price objective on Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a report on Thursday, October 30th. Keefe, Bruyette & Woods lifted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research note on Monday, November 3rd. Morgan Stanley increased their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Prudential Financial in a research report on Monday, December 15th. Finally, Wall Street Zen raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Eleven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $118.00.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $114.55 on Tuesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $107.76 and a 200 day moving average price of $106.01. The company has a market cap of $40.09 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 0.93 and a beta of 0.97. Prudential Financial has a twelve month low of $90.38 and a twelve month high of $123.88.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share 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 during the quarter. Research analysts predict that Prudential Financial will post 14.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Timothy L. Schmidt sold 8,000 shares of the stock in a transaction 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 sale, the senior vice president owned 11,535 shares in the company, valued at approximately $1,242,204.15. This represents a 40.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Caroline Feeney sold 6,555 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $116.28, for a total value of $762,215.40. Following the completion of the sale, the executive vice president owned 22,523 shares of the company’s stock, valued at approximately $2,618,974.44. This trade represents a 22.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 62,719 shares of company stock valued at $6,796,067. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Prudential Financial

Several hedge funds have recently modified their holdings of the stock. AlphaQuest LLC lifted its holdings in Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after buying an additional 245 shares in the last quarter. Wealth Watch Advisors INC bought a new stake in shares of Prudential Financial during the third quarter worth $30,000. Chilton Capital Management LLC lifted its stake in shares of Prudential Financial by 146.5% during the third quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 208 shares during the period. Darwin Wealth Management LLC bought a new position in Prudential Financial in the second quarter valued at about $36,000. Finally, AlphaCore Capital LLC bought a new stake in Prudential Financial during the 2nd quarter worth about $39,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.