JPMorgan Chase & Co. Cuts Prudential Financial (NYSE:PRU) Price Target to $126.00

Prudential Financial (NYSE:PRU - Get Free Report) had its target price cut by research analysts at JPMorgan Chase & Co. from $128.00 to $126.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 30.88% from the company's previous close.

A number of other equities analysts also recently commented on PRU. BMO Capital Markets began coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective on the stock. Morgan Stanley reduced their price target on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Barclays increased their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Piper Sandler reduced their target price on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lowered their price target on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $126.08.

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Prudential Financial Trading Down 8.1 %

Shares of PRU stock traded down $8.52 during trading hours on Wednesday, hitting $96.27. 3,517,463 shares of the company were exchanged, compared to its average volume of 1,559,605. Prudential Financial has a 1 year low of $92.77 and a 1 year high of $130.55. The firm has a fifty day moving average of $112.03 and a 200 day moving average of $118.63. The firm has a market cap of $34.46 billion, a PE ratio of 12.89, a PEG ratio of 0.98 and a beta of 1.28. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Analysts expect that Prudential Financial will post 14.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Savant Capital LLC boosted its holdings in Prudential Financial by 0.6% in the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock worth $1,705,000 after purchasing an additional 83 shares during the period. Grove Bank & Trust boosted its holdings in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after buying an additional 87 shares during the period. HBK Sorce Advisory LLC raised its stake in Prudential Financial by 1.0% during the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock worth $1,116,000 after acquiring an additional 91 shares during the period. Asset Dedication LLC lifted its holdings in Prudential Financial by 28.4% in the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock worth $50,000 after acquiring an additional 93 shares during the last quarter. Finally, Altman Advisors Inc. boosted its stake in Prudential Financial by 0.6% in the fourth quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock valued at $1,907,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds 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.