Prudential Financial (NYSE:PRU) had its target price reduced by JPMorgan Chase & Co. from $115.00 to $110.00 in a research report released on Tuesday morning, Stock Target Advisor reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.
PRU has been the topic of several other research reports. B. Riley cut shares of Prudential Financial from a buy rating to a neutral rating and reduced their price objective for the company from $122.00 to $100.00 in a research report on Thursday, August 1st. HSBC reiterated a buy rating on shares of Prudential Financial in a research report on Tuesday, October 22nd. Barclays set a $108.00 price objective on shares of Prudential Financial and gave the company a buy rating in a research report on Monday, August 12th. Morgan Stanley reduced their price objective on shares of Prudential Financial from $110.00 to $108.00 and set an equal weight rating on the stock in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada reiterated a neutral rating on shares of Prudential Financial in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $96.81.
Prudential Financial stock opened at $92.89 on Tuesday. The stock has a market cap of $37.00 billion, a P/E ratio of 7.95, a PEG ratio of 0.85 and a beta of 1.57. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11. Prudential Financial has a 1 year low of $75.61 and a 1 year high of $106.39. The firm’s 50 day moving average price is $89.97 and its 200-day moving average price is $93.72.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.15. The firm had revenue of $12.93 billion for the quarter, compared to analysts’ expectations of $14.27 billion. Prudential Financial had a net margin of 6.67% and a return on equity of 8.45%. During the same quarter last year, the business posted $3.15 earnings per share. As a group, equities analysts expect that Prudential Financial will post 11.98 EPS for the current year.
In other Prudential Financial news, CEO Charles F. Lowrey purchased 7,500 shares of Prudential Financial stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average price of $83.68 per share, for a total transaction of $627,600.00. Following the completion of the transaction, the chief executive officer now owns 64,263 shares of the company’s stock, valued at approximately $5,377,527.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kenneth Tanji purchased 2,500 shares of Prudential Financial stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average price of $83.84 per share, for a total transaction of $209,600.00. Following the transaction, the chief financial officer now directly owns 19,285 shares of the company’s stock, valued at approximately $1,616,854.40. The disclosure for this purchase can be found here. Insiders purchased 13,580 shares of company stock worth $1,137,848 in the last 90 days. 0.76% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Atlantic Union Bankshares Corp bought a new stake in Prudential Financial in the second quarter worth $2,669,000. Goelzer Investment Management Inc. boosted its stake in Prudential Financial by 0.9% during the second quarter. Goelzer Investment Management Inc. now owns 96,523 shares of the financial services provider’s stock worth $9,749,000 after buying an additional 874 shares during the period. Naples Global Advisors LLC boosted its stake in Prudential Financial by 7.1% during the second quarter. Naples Global Advisors LLC now owns 7,364 shares of the financial services provider’s stock worth $744,000 after buying an additional 490 shares during the period. Monument Capital Management boosted its stake in Prudential Financial by 2.4% during the second quarter. Monument Capital Management now owns 22,227 shares of the financial services provider’s stock worth $2,268,000 after buying an additional 516 shares during the period. Finally, Coastal Capital Group Inc. purchased a new position in Prudential Financial during the second quarter worth $25,000. Institutional investors own 62.75% of the company’s stock.
About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.