Evercore ISI Increases Prudential Financial (NYSE:PRU) Price Target to $116.00

Prudential Financial (NYSE:PRU) had its target price hoisted by stock analysts at Evercore ISI from $115.00 to $116.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “underperform” rating on the financial services provider’s stock. Evercore ISI’s price objective suggests a potential upside of 4.98% from the company’s previous close.

PRU has been the subject of several other reports. UBS Group upped their target price on Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Morgan Stanley boosted their price target on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. TheStreet raised Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $118.00 price target (down previously from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. Two equities 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 has a consensus rating of “Hold” and a consensus price target of $111.42.

Prudential Financial Stock Performance

Prudential Financial stock opened at $110.50 on Thursday. The firm has a market capitalization of $39.67 billion, a P/E ratio of 16.52, a PEG ratio of 0.76 and a beta of 1.37. The stock has a fifty day moving average price of $111.75 and a 200 day moving average price of $103.73. Prudential Financial has a 52 week low of $77.22 and a 52 week high of $118.69. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last released its earnings results 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). The business had revenue of $13.02 billion during the quarter, compared to analyst estimates of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 earnings per share. Equities research analysts anticipate that Prudential Financial will post 13.38 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Robert Axel sold 6,436 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the transaction, the senior vice president now owns 7,901 shares in the company, valued at $883,805.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Robert Axel sold 6,436 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the transaction, the senior vice president now owns 7,901 shares in the company, valued at $883,805.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ann M. Kappler sold 7,222 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the transaction, the executive vice president now owns 24,381 shares in the company, valued at approximately $2,642,656.59. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,255 shares of company stock worth $3,215,664. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PRU. Oak Thistle LLC bought a new position in Prudential Financial during the 3rd quarter worth approximately $569,000. Czech National Bank lifted its holdings in Prudential Financial by 46.8% during the 3rd quarter. Czech National Bank now owns 63,444 shares of the financial services provider’s stock worth $6,020,000 after buying an additional 20,235 shares during the last quarter. MBM Wealth Consultants LLC lifted its holdings in shares of Prudential Financial by 5.1% in the 3rd quarter. MBM Wealth Consultants LLC now owns 3,072 shares of the financial services provider’s stock worth $288,000 after purchasing an additional 149 shares during the last quarter. Verity & Verity LLC lifted its holdings in shares of Prudential Financial by 22.3% in the 3rd quarter. Verity & Verity LLC now owns 173,400 shares of the financial services provider’s stock worth $16,440,000 after purchasing an additional 31,641 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. lifted its holdings in shares of Prudential Financial by 6.0% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 4,551 shares of the financial services provider’s stock worth $432,000 after purchasing an additional 258 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Company Profile

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.