Barclays Has Lowered Expectations for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its target price lowered by analysts at Barclays from $124.00 to $119.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target indicates a potential upside of 28.97% from the stock’s previous close.

Other research analysts have also issued reports about the company. Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. UBS Group upped their price objective on shares of Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Evercore reissued a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. JPMorgan Chase & Co. dropped their price target on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Finally, Piper Sandler increased their price objective on shares of Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $115.22.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $92.27 on Wednesday. Prudential Financial has a 12-month low of $90.38 and a 12-month high of $119.76. The company has a market cap of $32.11 billion, a PE ratio of 9.23, a P/E/G ratio of 1.16 and a beta of 0.98. The stock has a 50 day simple moving average of $106.20 and a 200-day simple moving average of $106.71. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing the consensus estimate of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The business had revenue of $14.52 billion during the quarter, compared to analyst estimates of $14.48 billion. During the same quarter in the prior year, the business earned $2.96 earnings per share. On average, equities research analysts forecast that Prudential Financial will post 14.36 EPS for the current year.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, Director Thomas D. Stoddard purchased 250 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was bought at an average cost of $102.97 per share, with a total value of $25,742.50. Following the acquisition, the director owned 250 shares of the company’s stock, valued at $25,742.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph J. Wolk acquired 400 shares of the stock in a transaction dated Wednesday, February 11th. The stock was acquired at an average cost of $105.32 per share, for a total transaction of $42,128.00. Following the purchase, the director directly owned 400 shares in the company, valued at approximately $42,128. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 1,408,389 shares of company stock valued at $35,154,439 over the last 90 days. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jessup Wealth Management Inc acquired a new stake in shares of Prudential Financial during the fourth quarter worth $25,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Prudential Financial in the 4th quarter valued at $26,000. Salomon & Ludwin LLC boosted its position in shares of Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 114 shares during the period. Lodestone Wealth Management LLC purchased a new position in Prudential Financial in the 4th quarter worth about $28,000. Finally, Coston McIsaac & Partners raised its holdings in Prudential Financial by 93.4% during the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after buying an additional 128 shares during the period. Institutional investors own 56.83% of the company’s stock.

About Prudential Financial

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.