Prudential Financial (NYSE:PRU) Given New $114.00 Price Target at TD Cowen

Prudential Financial (NYSE:PRU) had its price target hoisted by TD Cowen from $102.00 to $114.00 in a research report released on Wednesday,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Prudential Financial from $117.00 to $129.00 and gave the stock a “neutral” rating in a research note on Tuesday. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Barclays boosted their price target on shares of Prudential Financial from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. Piper Sandler upped their price objective on shares of Prudential Financial from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Finally, Weiss Ratings upgraded shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $105.46.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $118.91 on Wednesday. The stock has a market capitalization of $41.26 billion, a P/E ratio of 12.23, a PEG ratio of 2.36 and a beta of 0.85. The business has a 50 day simple moving average of $108.26 and a two-hundred day simple moving average of $104.22. Prudential Financial has a 12 month low of $91.89 and a 12 month high of $120.59. 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 (NYSE:PRU) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The firm had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. During the same period in the previous year, the company posted $3.29 earnings per share. As a group, analysts predict that Prudential Financial will post 13.83 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $5.60 annualized dividend and a dividend yield of 4.7%. Prudential Financial’s payout ratio is presently 57.61%.

Hedge Funds Weigh In On Prudential Financial

A number of institutional investors have recently bought and sold shares of the company. Jessup Wealth Management Inc purchased a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Prudential Financial during the 4th quarter valued at approximately $26,000. Salomon & Ludwin LLC lifted its holdings in Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 114 shares during the last quarter. SJS Investment Consulting Inc. grew its position in Prudential Financial by 93.1% in the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 134 shares during the period. Finally, Lodestone Wealth Management LLC acquired a new stake in Prudential Financial during the fourth quarter worth $28,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

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.