Barclays Cuts Prudential Financial (NYSE:PRU) Price Target to $127.00

Prudential Financial (NYSE:PRU) had its price target lowered by Barclays from $129.00 to $127.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. Bank of America boosted their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. TD Cowen lifted their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Wells Fargo & Company decreased their price target on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $127.25.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $118.98 on Friday. The firm’s 50 day moving average price is $122.06 and its 200-day moving average price is $120.67. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $42.36 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 0.75 and a beta of 1.31. Prudential Financial has a twelve month low of $100.60 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the previous year, the firm posted $3.44 EPS. Equities research analysts expect that Prudential Financial will post 13.34 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Prudential Financial

Several hedge funds have recently modified their holdings of the company. Grove Bank & Trust increased its position in shares of Prudential Financial by 65.9% during 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 in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial during the 3rd quarter valued at about $31,000. Quarry LP increased its holdings in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after buying an additional 222 shares during the period. Retirement Wealth Solutions LLC purchased a new position in shares of Prudential Financial during the fourth quarter worth $37,000. Finally, Tompkins Financial Corp raised its stake in shares of Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after buying an additional 140 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.