Prudential Financial (NYSE:PRU) Given New $108.00 Price Target at Wells Fargo & Company

Prudential Financial (NYSE:PRU) had its price target cut by equities researchers at Wells Fargo & Company from $118.00 to $108.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 9.42% from the company’s previous close.

PRU has been the topic of several other research reports. JPMorgan Chase & Co. cut their price target on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. UBS Group dropped their price target on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price objective on shares of Prudential Financial from $125.00 to $120.00 and set a “market perform” rating for the company in a research note on Wednesday. Piper Sandler dropped their target price on shares of Prudential Financial from $124.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Finally, Barclays raised their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.77.

Prudential Financial Trading Up 0.2 %

PRU opened at $98.70 on Thursday. The stock has a market cap of $34.98 billion, a PE ratio of 13.21, a PEG ratio of 0.98 and a beta of 1.11. The business has a 50 day moving average of $108.98 and a 200-day moving average of $117.58. 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.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. 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 the company’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 transaction 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 approximately $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were acquired at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the purchase, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. The trade was a 60.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Prudential Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Grove Bank & Trust grew its stake in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Prudential Financial in the fourth quarter worth approximately $29,000. CGC Financial Services LLC increased its stake in shares of Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial during the 4th quarter valued at $33,000. Finally, Quarry LP lifted its stake in shares of Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after buying an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

About Prudential Financial

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.