Prudential Financial (NYSE:PRU) Stock Price Expected to Rise, Barclays Analyst Says

Prudential Financial (NYSE:PRU - Free Report) had its price target upped by Barclays from $118.00 to $119.00 in a research note issued to investors on Friday, Benzinga reports. Barclays currently has an equal weight rating on the financial services provider's stock.

Other analysts also recently issued research reports about the stock. Bank of America boosted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Piper Sandler increased their price target on Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Morgan Stanley dropped their price objective on Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a report on Monday, August 19th. Argus upgraded Prudential Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Finally, UBS Group upped their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven 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 has an average rating of "Hold" and a consensus price target of $123.77.

Prudential Financial Stock Performance

Prudential Financial stock traded down $1.20 during trading hours on Friday, hitting $121.28. The company had a trading volume of 1,965,517 shares, compared to its average volume of 1,482,911. Prudential Financial has a one year low of $89.90 and a one year high of $128.52. The firm has a market cap of $43.30 billion, a PE ratio of 10.90, a PEG ratio of 0.97 and a beta of 1.30. The firm has a 50-day moving average of $121.02 and a 200 day moving average of $118.16. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to analysts' expectations of $14.57 billion. Prudential Financial had a return on equity of 15.66% and a net margin of 6.03%. During the same period last year, the firm posted $3.44 EPS. On average, sell-side analysts expect that Prudential Financial will post 13.3 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.29%. Prudential Financial's payout ratio is 46.22%.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction dated Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now directly owns 4,208,549 shares of the company's stock, valued at $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company's stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On Prudential Financial

Several institutional investors have recently added to or reduced their stakes in PRU. Norden Group LLC bought a new position in Prudential Financial during the first quarter worth $2,789,000. Diversify Advisory Services LLC bought a new position in shares of Prudential Financial during the 1st quarter worth about $272,000. Sequoia Financial Advisors LLC increased its position in Prudential Financial by 1.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider's stock valued at $875,000 after buying an additional 94 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Prudential Financial by 4.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,164 shares of the financial services provider's stock worth $12,698,000 after buying an additional 4,802 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in Prudential Financial by 3.0% in the first quarter. Janney Montgomery Scott LLC now owns 166,822 shares of the financial services provider's stock worth $19,585,000 after acquiring an additional 4,787 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

About Prudential Financial

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.