Prudential Financial (NYSE:PRU) Given New $127.00 Price Target at Barclays

Prudential Financial (NYSE:PRU) had its target price lowered by stock analysts at Barclays from $129.00 to $127.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 6.46% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Bank of America lifted their target price on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. TD Cowen lifted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods cut their target price on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Jefferies Financial Group increased their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $127.25.

Prudential Financial Trading Up 0.8 %

NYSE:PRU traded up $0.89 on Friday, reaching $119.29. 648,300 shares of the stock traded hands, compared to its average volume of 1,357,587. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial has a 1-year low of $100.60 and a 1-year high of $130.55. The company’s 50 day moving average is $122.23 and its 200-day moving average is $120.66. The firm has a market capitalization of $42.47 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 0.75 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter last year, the firm earned $3.44 earnings per share. Equities research analysts anticipate that Prudential Financial will post 13.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Edgestream Partners L.P. bought a new stake in shares of Prudential Financial in the 2nd quarter worth approximately $258,000. Mercer Global Advisors Inc. ADV raised its stake in shares of Prudential Financial by 0.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 34,074 shares of the financial services provider’s stock valued at $3,993,000 after buying an additional 291 shares during the period. Blair William & Co. IL grew its stake in shares of Prudential Financial by 148.4% during the 2nd quarter. Blair William & Co. IL now owns 26,585 shares of the financial services provider’s stock worth $3,116,000 after acquiring an additional 15,884 shares during the period. Intech Investment Management LLC increased its holdings in Prudential Financial by 70.8% in the 2nd quarter. Intech Investment Management LLC now owns 17,570 shares of the financial services provider’s stock worth $2,059,000 after acquiring an additional 7,281 shares during the last quarter. Finally, Brighton Jones LLC lifted its holdings in Prudential Financial by 3.0% during the second quarter. Brighton Jones LLC now owns 3,536 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 103 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.