Analysts Set Prudential Financial, Inc. (NYSE:PRU) Price Target at $122.77

Prudential Financial, Inc. (NYSE:PRU - Get Free Report) has received a consensus rating of "Hold" from the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $121.85.

A number of equities research analysts have recently issued reports on PRU shares. Morgan Stanley cut their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Barclays reduced their price objective on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. UBS Group decreased their price target on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Piper Sandler decreased their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the stock in a transaction dated Tuesday, March 25th. The stock was purchased at an average cost of $28.52 per share, for a total transaction 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 approximately $3,992,429.24. This trade represents a 60.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction that occurred 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 directly owns 27,072 shares of the company's stock, 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. Insiders own 0.31% of the company's stock.

Institutional Investors Weigh In On Prudential Financial

A number of institutional investors have recently modified their holdings of the stock. Grove Bank & Trust lifted its stake in shares of Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Prudential Financial during the fourth quarter valued at $29,000. Opal Wealth Advisors LLC bought a new stake in Prudential Financial in the 1st quarter worth about $30,000. CGC Financial Services LLC lifted its stake in Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 124 shares during the period. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial during the 4th quarter valued at about $33,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

NYSE:PRU traded up $0.77 during midday trading on Tuesday, hitting $99.39. The company had a trading volume of 1,480,033 shares, compared to its average volume of 1,600,586. The stock's fifty day moving average price is $107.93 and its 200-day moving average price is $117.03. Prudential Financial has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $35.23 billion, a PE 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 data on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, research analysts expect that Prudential Financial will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.43%. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. Prudential Financial's dividend payout ratio is presently 72.29%.

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.