Prudential Financial (NYSE:PRU) Given New $116.00 Price Target at UBS Group

Prudential Financial (NYSE:PRU) had its target price boosted by UBS Group from $111.00 to $116.00 in a research note issued to investors on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

A number of other equities analysts have also issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Prudential Financial in a research report on Monday, December 29th. Piper Sandler increased their target price on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. Wolfe Research assumed coverage on Prudential Financial in a research report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Barclays dropped their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $118.60.

Prudential Financial Stock Performance

NYSE PRU opened at $118.77 on Thursday. The company has a fifty day moving average of $110.72 and a two-hundred day moving average of $106.81. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial has a 1 year low of $90.38 and a 1 year high of $123.88. The company has a market capitalization of $41.57 billion, a PE ratio of 16.31, a P/E/G ratio of 0.93 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The business had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%. As a group, analysts expect that Prudential Financial will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were paid a $1.35 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.5%. Prudential Financial’s payout ratio is 74.18%.

Insiders Place Their Bets

In related news, SVP Timothy L. Schmidt sold 8,000 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total transaction of $861,520.00. Following the sale, the senior vice president owned 11,535 shares of the company’s stock, valued at approximately $1,242,204.15. The trade was a 40.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Caroline Feeney sold 6,555 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $116.28, for a total transaction of $762,215.40. Following the completion of the transaction, the executive vice president directly owned 22,523 shares of the company’s stock, valued at approximately $2,618,974.44. This trade represents a 22.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 62,719 shares of company stock worth $6,796,067. 0.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 133 shares in the last quarter. Ascent Group LLC increased its stake in shares of Prudential Financial by 82.7% during the 1st quarter. Ascent Group LLC now owns 4,769 shares of the financial services provider’s stock worth $533,000 after purchasing an additional 2,158 shares in the last quarter. Empowered Funds LLC raised its position in shares of Prudential Financial by 30.5% during the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after purchasing an additional 4,134 shares during the last quarter. Glenview Trust co lifted its stake in Prudential Financial by 37.5% in the 1st quarter. Glenview Trust co now owns 2,862 shares of the financial services provider’s stock valued at $320,000 after buying an additional 780 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in Prudential Financial during the 1st quarter valued at $101,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.