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

Prudential Financial (NYSE:PRU) had its price target lifted by equities researchers at Barclays from $128.00 to $134.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target suggests a potential upside of 13.65% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group lifted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company cut their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. BMO Capital Markets assumed coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and upped their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Piper Sandler lowered their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $125.77.

Prudential Financial Price Performance

NYSE PRU opened at $117.91 on Wednesday. The firm has a market cap of $41.97 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. The stock’s 50-day moving average is $120.38 and its two-hundred day moving average is $120.46. Prudential Financial has a fifty-two week low of $101.72 and a fifty-two week high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. On average, analysts anticipate that Prudential Financial will post 13.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Large investors have recently bought and sold shares of the business. Proficio Capital Partners LLC bought a new position in shares of Prudential Financial in the fourth quarter worth about $29,998,000. Mn Services Vermogensbeheer B.V. raised its position in Prudential Financial by 2.6% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 144,392 shares of the financial services provider’s stock worth $17,115,000 after purchasing an additional 3,600 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in Prudential Financial by 3.8% during the 4th quarter. Checchi Capital Advisers LLC now owns 4,980 shares of the financial services provider’s stock worth $590,000 after buying an additional 180 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its position in Prudential Financial by 4.1% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 6,027 shares of the financial services provider’s stock valued at $714,000 after buying an additional 240 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in shares of Prudential Financial by 69.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 167,360 shares of the financial services provider’s stock valued at $19,837,000 after buying an additional 68,705 shares during the period. 56.83% of the stock is currently owned by 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.