Piper Sandler Cuts Prudential Financial (NYSE:PRU) Price Target to $110.00

Prudential Financial (NYSE:PRU - Get Free Report) had its price target reduced by research analysts at Piper Sandler from $122.00 to $110.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price target indicates a potential upside of 10.67% from the company's previous close.

Several other equities analysts have also issued reports on the company. BMO Capital Markets initiated coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. UBS Group cut their price objective on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. 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. Finally, Wells Fargo & Company lowered their price target on shares of Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. One 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. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $121.85.

Prudential Financial Stock Up 0.8 %

Shares of PRU traded up $0.77 during mid-day trading on Tuesday, hitting $99.39. 1,480,033 shares of the company's stock were exchanged, compared to its average volume of 1,601,187. 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 has a twelve month low of $90.38 and a twelve month high of $130.55. The firm has a fifty day moving average of $107.69 and a two-hundred day moving average of $116.89. The stock has a market cap of $35.23 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 0.98 and a beta of 1.11.

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 return on equity of 15.86% and a net margin of 4.01%. On average, sell-side analysts forecast that Prudential Financial will post 14.36 earnings per share for the current year.

Insider Activity

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was acquired at an average cost of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the acquisition, the insider now owns 139,987 shares of the company's stock, valued at $3,992,429.24. This represents a 60.18 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company's stock.

Institutional Investors Weigh In On Prudential Financial

Several large investors have recently added to or reduced their stakes in the stock. San Luis Wealth Advisors LLC bought a new stake in shares of Prudential Financial in the 1st quarter valued at about $597,000. Bell Bank grew its stake in shares of Prudential Financial by 7.2% during the first quarter. Bell Bank now owns 79,039 shares of the financial services provider's stock worth $8,827,000 after acquiring an additional 5,324 shares during the last quarter. Vista Investment Partners LLC increased its holdings in shares of Prudential Financial by 25.6% during the first quarter. Vista Investment Partners LLC now owns 3,612 shares of the financial services provider's stock valued at $403,000 after acquiring an additional 736 shares in the last quarter. Grove Bank & Trust raised its stake in Prudential Financial by 349.3% in the 1st quarter. Grove Bank & Trust now owns 984 shares of the financial services provider's stock worth $110,000 after acquiring an additional 765 shares during the last quarter. Finally, Sagespring Wealth Partners LLC lifted its stake in Prudential Financial by 23.6% during the 1st quarter. Sagespring Wealth Partners LLC now owns 6,039 shares of the financial services provider's stock valued at $674,000 after acquiring an additional 1,154 shares during the period. 56.83% of the stock is owned by hedge funds and other 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.