Keefe, Bruyette & Woods Issues Pessimistic Forecast for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its price target lowered by investment analysts at Keefe, Bruyette & Woods from $125.00 to $120.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 22.13% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Piper Sandler lowered their target price on shares of Prudential Financial from $124.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. 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 target price on the stock. Barclays increased their price target on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Jefferies Financial Group boosted their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. decreased their price objective 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $124.92.

Prudential Financial Trading Down 5.4 %

Shares of NYSE:PRU opened at $98.26 on Wednesday. The company has a market capitalization of $34.82 billion, a PE ratio of 13.15, a P/E/G ratio of 0.98 and a beta of 1.11. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial has a 12-month low of $90.38 and a 12-month high of $130.55. The business’s fifty day simple moving average is $109.36 and its 200-day simple moving average is $117.72.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (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 predict that Prudential Financial will post 14.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial 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 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 is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ 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

A number of large investors have recently bought and sold shares of the business. Avanza Fonder AB acquired a new position in shares of Prudential Financial during the 4th quarter worth approximately $3,423,000. Gateway Investment Advisers LLC raised its position in Prudential Financial by 56.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after acquiring an additional 7,907 shares during the period. Principal Financial Group Inc. lifted its holdings in Prudential Financial by 3.9% during the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after purchasing an additional 15,695 shares in the last quarter. Asset Allocation & Management Company LLC acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $209,000. Finally, Czech National Bank increased its stake in shares of Prudential Financial by 6.1% during the fourth quarter. Czech National Bank now owns 77,188 shares of the financial services provider’s stock worth $9,149,000 after purchasing an additional 4,464 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

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.