Prudential Financial (NYSE:PRU) received a $122.00 price objective from equities researchers at Wells Fargo & Company in a note issued to investors on Thursday. The brokerage presently has a “hold” rating on the financial services provider’s stock. Wells Fargo & Company’s price target points to a potential upside of 6.58% from the company’s current price.
A number of other research analysts have also recently commented on the stock. Royal Bank of Canada restated a “hold” rating and set a $117.00 price target on shares of Prudential Financial in a research note on Wednesday, September 6th. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research note on Tuesday, October 10th. Citigroup upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target for the company in a research note on Tuesday, October 17th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a research note on Friday, November 10th. Finally, Morgan Stanley raised their price target on shares of Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $115.78.
Prudential Financial (NYSE:PRU) traded up $0.52 during midday trading on Thursday, hitting $114.47. 1,981,848 shares of the company traded hands, compared to its average volume of 1,843,200. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34. Prudential Financial has a twelve month low of $97.88 and a twelve month high of $117.99. The company has a market capitalization of $49,040.00, a PE ratio of 11.24, a PEG ratio of 1.31 and a beta of 1.55.
In other news, EVP Timothy P. Harris sold 10,527 shares of Prudential Financial stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total value of $1,210,605.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas C. Silitch sold 44,860 shares of Prudential Financial stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the transaction, the insider now owns 27,927 shares of the company’s stock, valued at approximately $3,121,400.79. The disclosure for this sale can be found here. Insiders sold 100,017 shares of company stock valued at $11,219,151 in the last quarter. 0.66% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of PRU. BlackRock Inc. grew its holdings in Prudential Financial by 2.9% during the 2nd quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock worth $3,585,415,000 after acquiring an additional 934,352 shares during the period. Vanguard Group Inc. grew its holdings in Prudential Financial by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 30,885,285 shares of the financial services provider’s stock worth $3,339,935,000 after acquiring an additional 612,799 shares during the period. Cohen & Steers Inc. acquired a new stake in Prudential Financial during the 2nd quarter worth $718,824,000. Norges Bank acquired a new stake in Prudential Financial during the 4th quarter worth $1,668,046,000. Finally, State Street Corp grew its holdings in Prudential Financial by 10.8% during the 4th quarter. State Street Corp now owns 20,235,854 shares of the financial services provider’s stock worth $2,105,741,000 after acquiring an additional 1,966,517 shares during the period. Institutional investors own 64.65% of the company’s stock.
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Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.