Wall Street Zen Upgrades Prudential Financial (NYSE:PRU) to “Buy”

Prudential Financial (NYSE:PRU) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

PRU has been the subject of several other research reports. Barclays boosted their price objective on shares of Prudential Financial from $90.00 to $92.00 and gave the company an “underweight” rating in a research note on Tuesday, July 7th. Jefferies Financial Group increased their target price on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Bank of America cut their price target on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Argus cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Finally, UBS Group decreased their target price on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Reduce” and a consensus target price of $104.58.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $119.05 on Friday. The firm has a market capitalization of $41.31 billion, a PE ratio of 12.25, a P/E/G ratio of 2.42 and a beta of 0.85. 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 company has a 50-day moving average price of $107.27 and a two-hundred day moving average price of $104.17. Prudential Financial has a twelve month low of $91.89 and a twelve month high of $120.53.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The business had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $14.10 billion. During the same quarter in the previous year, the firm posted $3.29 EPS. Equities analysts forecast that Prudential Financial will post 13.74 EPS for the current year.

Institutional Investors Weigh In On Prudential Financial

A number of large investors have recently added to or reduced their stakes in PRU. Jessup Wealth Management Inc purchased a new position in shares of Prudential Financial in the 4th quarter worth about $25,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Prudential Financial during the 4th quarter valued at about $26,000. Salomon & Ludwin LLC lifted 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 worth $27,000 after buying an additional 114 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in Prudential Financial by 93.1% in the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after buying an additional 134 shares in the last quarter. Finally, Lodestone Wealth Management LLC purchased a new stake in Prudential Financial in the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

About Prudential Financial

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.