TD Cowen Issues Positive Forecast for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its target price boosted by TD Cowen from $130.00 to $133.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. Morgan Stanley decreased their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Bank of America boosted their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Barclays boosted their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, Piper Sandler lifted their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $125.92.

Prudential Financial Stock Up 0.3 %

NYSE PRU opened at $129.52 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial has a 52 week low of $95.10 and a 52 week high of $130.55. The firm has a market capitalization of $46.11 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 0.91 and a beta of 1.29. The company has a fifty day moving average of $123.93 and a two-hundred day moving average of $119.96.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the previous year, the company earned $3.44 EPS. On average, analysts predict that Prudential Financial will post 13.33 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio is currently 46.22%.

Insider Buying and Selling

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This represents a 9.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The shares were bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of Prudential Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC increased its position in shares of Prudential Financial by 4,130.8% during the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after acquiring an additional 1,267,571 shares during the last quarter. AQR Capital Management LLC increased its holdings in Prudential Financial by 97.4% in the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after purchasing an additional 357,300 shares during the last quarter. FMR LLC lifted its stake in Prudential Financial by 31.3% during the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after purchasing an additional 344,254 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after buying an additional 341,787 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Prudential Financial in the first quarter valued at $35,855,000. 56.83% of the stock is owned by institutional investors and hedge funds.

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.