Prudential Financial (NYSE:PRU) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Prudential Financial (NYSE:PRU) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $117.00 to $129.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 8.48% from the stock’s current price.

A number of other research firms have also recently issued reports on PRU. Morgan Stanley restated an “underweight” rating and set a $92.00 price objective (down from $106.00) on shares of Prudential Financial in a research report on Monday, May 4th. Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Zacks Research upgraded shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. UBS Group lowered their price target on shares of Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Finally, Jefferies Financial Group increased their price objective on shares of Prudential Financial from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $105.46.

Prudential Financial Stock Up 0.3%

NYSE PRU opened at $118.91 on Tuesday. Prudential Financial has a twelve month low of $91.89 and a twelve month high of $120.59. The stock has a market cap of $41.26 billion, a PE ratio of 12.23, a PEG ratio of 2.36 and a beta of 0.85. The firm has a 50-day simple moving average of $108.26 and a 200 day simple moving average of $104.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The firm had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. During the same period in the previous year, the company posted $3.29 earnings per share. On average, research analysts forecast that Prudential Financial will post 13.83 EPS for the current year.

Institutional Trading of Prudential Financial

Several large investors have recently made changes to their positions in PRU. Jessup Wealth Management Inc acquired a new position in Prudential Financial during the 4th quarter worth about $25,000. Garton & Associates Financial Advisors LLC acquired a new stake in Prudential Financial in the 4th quarter valued at about $26,000. Salomon & Ludwin LLC increased its position in Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 114 shares in the last quarter. Lodestone Wealth Management LLC bought a new position in shares of Prudential Financial in the fourth quarter worth about $28,000. Finally, Basepoint Wealth LLC acquired a new position in shares of Prudential Financial during the fourth quarter worth approximately $30,000. Institutional investors own 56.83% of the company’s stock.

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.