Prudential Financial (NYSE:PRU) Price Target Lowered to $122.00 at UBS Group

Prudential Financial (NYSE:PRU - Free Report) had its price objective lowered by UBS Group from $130.00 to $122.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider's stock.

A number of other research analysts have also commented on the company. Keefe, Bruyette & Woods cut 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. JPMorgan Chase & Co. reduced their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Wednesday. BMO Capital Markets initiated coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective for the company. Wells Fargo & Company lifted their price objective on Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. Finally, Barclays upped their price target 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 issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $126.08.

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Prudential Financial Price Performance

Shares of PRU stock traded down $8.52 during mid-day trading on Wednesday, hitting $96.27. 3,517,463 shares of the stock traded hands, compared to its average volume of 1,559,605. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The company's 50-day simple moving average is $112.03 and its 200-day simple moving average is $118.63. Prudential Financial has a twelve month low of $92.77 and a twelve month high of $130.55. The firm has a market cap of $34.46 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results 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, equities research analysts expect that Prudential Financial will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a dividend of $1.35 per share. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 5.61%. The ex-dividend date was Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is currently 72.29%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Prudential Financial

Several institutional investors have recently added to or reduced their stakes in the business. Savant Capital LLC boosted its holdings in Prudential Financial by 0.6% in the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock valued at $1,705,000 after purchasing an additional 83 shares during the period. Grove Bank & Trust increased its position 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 purchasing an additional 87 shares during the last quarter. HBK Sorce Advisory LLC raised its stake in Prudential Financial by 1.0% in the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock valued at $1,116,000 after purchasing an additional 91 shares in the last quarter. Asset Dedication LLC grew its stake in Prudential Financial by 28.4% in the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock worth $50,000 after buying an additional 93 shares in the last quarter. Finally, Altman Advisors Inc. increased its holdings in shares of Prudential Financial by 0.6% in the 4th quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock worth $1,907,000 after buying an additional 94 shares during the last quarter. 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.