Prudential Financial (NYSE:PRU) Price Target Raised to $129.00

Prudential Financial (NYSE:PRU) had its target price increased by Barclays from $119.00 to $129.00 in a research note published on Monday,Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts have also commented on the company. TD Cowen raised their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Bank of America upped their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price objective for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Jefferies Financial Group raised 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, Wells Fargo & Company increased their price objective on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average target price of $127.17.

Prudential Financial Stock Down 0.7 %

Shares of Prudential Financial stock opened at $118.36 on Monday. Prudential Financial has a twelve month low of $100.60 and a twelve month high of $130.55. The stock has a market capitalization of $42.14 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 0.87 and a beta of 1.31. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The business’s 50 day simple moving average is $122.74 and its 200-day simple moving average is $120.68.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter last year, the company posted $3.44 EPS. Equities research analysts forecast that Prudential Financial will post 13.35 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.39%. Prudential Financial’s dividend payout ratio is presently 46.22%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Large investors have recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new stake in shares of Prudential Financial in the third quarter valued at about $31,000. Strategic Financial Concepts LLC lifted its position in shares of Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 25,027 shares during the period. Quarry LP boosted its stake in shares of Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares during the last quarter. Tompkins Financial Corp raised its stake in Prudential Financial by 61.7% during the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after buying an additional 140 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its holdings in Prudential Financial by 235.4% in the third quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock valued at $46,000 after buying an additional 266 shares during the period. Institutional investors 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.