Prudential Financial (NYSE:PRU) Stock Price Expected to Rise, TD Cowen Analyst Says

Prudential Financial (NYSE:PRU) had its price objective boosted by analysts at TD Cowen from $102.00 to $114.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s target price indicates a potential downside of 3.21% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $100.00 to $103.00 and gave the stock an “underweight” rating in a research note on Thursday, July 9th. Argus cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Jefferies Financial Group lifted their price target on shares of Prudential Financial from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Weiss Ratings upgraded Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Finally, JPMorgan Chase & Co. increased their price target on Prudential Financial from $117.00 to $129.00 and gave the stock a “neutral” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Prudential Financial presently has an average rating of “Reduce” and an average target price of $105.46.

Prudential Financial Stock Down 0.9%

PRU opened at $117.78 on Wednesday. The stock has a fifty day moving average of $108.55 and a 200-day moving average of $104.25. The company has a market capitalization of $40.87 billion, a P/E ratio of 12.12, a P/E/G ratio of 2.36 and a beta of 0.85. Prudential Financial has a fifty-two week low of $91.89 and a fifty-two week high of $120.58. 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 released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $14.10 billion. During the same period in the prior year, the company posted $3.29 earnings per share. On average, equities analysts expect that Prudential Financial will post 13.83 EPS for the current year.

Hedge Funds Weigh In On Prudential Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jessup Wealth Management Inc acquired a new stake in shares of Prudential Financial during the 4th quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC bought a new position in Prudential Financial in the fourth quarter valued at approximately $26,000. Salomon & Ludwin LLC raised its position in Prudential Financial by 98.3% during the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 114 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in Prudential Financial by 93.1% during the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 134 shares during the last quarter. Finally, Lodestone Wealth Management LLC bought a new stake in Prudential Financial during the fourth quarter worth $28,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

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.