Morgan Stanley Issues Pessimistic Forecast for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU - Get Free Report) had its target price reduced by Morgan Stanley from $136.00 to $128.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's target price indicates a potential upside of 16.88% from the stock's current price.

A number of other equities research analysts also recently commented on PRU. Piper Sandler cut their price objective on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. TD Cowen boosted their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. BMO Capital Markets started coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective on the stock. Jefferies Financial Group lifted their target price on Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Finally, Barclays increased their target price 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $126.15.

Prudential Financial Price Performance

Shares of PRU traded down $3.97 during midday trading on Friday, reaching $109.51. The stock had a trading volume of 2,163,310 shares, compared to its average volume of 1,738,286. The firm's 50 day moving average price is $116.25 and its 200-day moving average price is $119.90. Prudential Financial has a 52 week low of $104.44 and a 52 week high of $130.55. The company has a market capitalization of $39.21 billion, a P/E ratio of 14.66, a P/E/G ratio of 0.98 and a beta of 1.31. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last issued 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%. On average, analysts forecast that Prudential Financial will post 14.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Prudential Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AMF Tjanstepension AB grew its stake in shares of Prudential Financial by 12.5% in the 3rd quarter. AMF Tjanstepension AB now owns 203,197 shares of the financial services provider's stock valued at $24,642,000 after purchasing an additional 22,588 shares during the period. Pinnacle Associates Ltd. grew its position in Prudential Financial by 0.6% in the third quarter. Pinnacle Associates Ltd. now owns 15,775 shares of the financial services provider's stock valued at $1,910,000 after acquiring an additional 99 shares during the period. Stephens Inc. AR raised its stake in Prudential Financial by 5.6% during the third quarter. Stephens Inc. AR now owns 102,648 shares of the financial services provider's stock worth $12,431,000 after acquiring an additional 5,480 shares in the last quarter. Gladstone Institutional Advisory LLC lifted its holdings in shares of Prudential Financial by 2.4% during the third quarter. Gladstone Institutional Advisory LLC now owns 4,686 shares of the financial services provider's stock valued at $568,000 after acquiring an additional 109 shares during the period. Finally, Capital Advisors Inc. OK bought a new stake in shares of Prudential Financial in the 3rd quarter worth about $30,226,000. 56.83% of the stock is owned by institutional investors.

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.