Prudential Financial (NYSE:PRU) Given New $115.00 Price Target at Evercore ISI

Prudential Financial (NYSE:PRU) had its target price raised by Evercore ISI from $104.00 to $115.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “underperform” rating on the financial services provider’s stock. Evercore ISI’s price objective would suggest a potential upside of 4.84% from the stock’s previous close.

Several other research analysts also recently commented on the stock. UBS Group boosted their price objective on shares of Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Keefe, Bruyette & Woods boosted their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday. Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Morgan Stanley upped their price target on shares of Prudential Financial from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Finally, Piper Sandler upped their price target on shares of Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $110.67.

Prudential Financial Trading Down 1.5 %

Shares of PRU stock opened at $109.69 on Thursday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a market cap of $39.38 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. The stock has a 50 day simple moving average of $111.04 and a 200 day simple moving average of $102.57. Prudential Financial has a 1 year low of $77.22 and a 1 year high of $118.69.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.09). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The firm had revenue of $13.02 billion for the quarter, compared to analyst estimates of $12.99 billion. During the same quarter in the prior year, the firm earned $2.42 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, research analysts predict that Prudential Financial will post 13.41 earnings per share for the current fiscal year.

Insider Activity at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 7,912 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the sale, the senior vice president now directly owns 14,754 shares in the company, valued at $1,595,350.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the sale, the senior vice president now owns 7,901 shares of the company’s stock, valued at $883,805.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Timothy L. Schmidt sold 7,912 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the sale, the senior vice president now directly owns 14,754 shares in the company, valued at approximately $1,595,350.02. The disclosure for this sale can be found here. Insiders sold 29,255 shares of company stock worth $3,215,664 over the last three months. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Prudential Financial

A number of institutional investors have recently bought and sold shares of PRU. Vanguard Group Inc. boosted its position in Prudential Financial by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after acquiring an additional 5,154,865 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Prudential Financial by 104,987.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,450,633 shares of the financial services provider’s stock worth $243,740,000 after purchasing an additional 2,448,301 shares in the last quarter. Norges Bank bought a new position in shares of Prudential Financial during the 4th quarter worth about $172,363,000. International Assets Investment Management LLC boosted its position in shares of Prudential Financial by 9,281.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after purchasing an additional 1,354,248 shares in the last quarter. Finally, Cowa LLC boosted its position in shares of Prudential Financial by 9,930.2% during the 1st quarter. Cowa LLC now owns 771,824 shares of the financial services provider’s stock worth $912,000 after purchasing an additional 764,129 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

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.