Analysts Set Prudential Financial, Inc. (NYSE:PRU) Target Price at $120.15

Prudential Financial, Inc. (NYSE:PRU) has been assigned a consensus rating of “Hold” from the thirteen ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $120.15.

A number of equities research analysts have issued reports on PRU shares. JPMorgan Chase & Co. reduced their price target on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their target price on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a report on Wednesday, May 7th. Wells Fargo & Company boosted their price target on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. UBS Group decreased their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research report on Tuesday, May 27th. Finally, Piper Sandler decreased their target price on Prudential Financial from $110.00 to $109.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd.

Prudential Financial Trading Up 0.2%

Shares of PRU stock opened at $106.08 on Wednesday. The stock has a market capitalization of $37.55 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. Prudential Financial has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The company has a 50 day moving average price of $102.52 and a 200 day moving average price of $111.56.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.18 by $0.11. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The company’s quarterly revenue was down 38.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.12 earnings per share. Equities research analysts predict that Prudential Financial will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. The ex-dividend date is Tuesday, May 20th. This represents a $5.40 annualized dividend and a yield of 5.09%. Prudential Financial’s dividend payout ratio is currently 85.58%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 25th. The stock was purchased at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the purchase, the insider now directly owns 139,987 shares of the company’s stock, valued at approximately $3,992,429.24. This trade represents a 60.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Prudential Financial

A number of institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Prudential Financial in the fourth quarter valued at approximately $115,878,000. Northern Trust Corp raised its holdings in shares of Prudential Financial by 23.7% in the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock worth $555,513,000 after acquiring an additional 897,916 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Prudential Financial by 11,280.3% in the first quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider’s stock valued at $96,923,000 after acquiring an additional 860,239 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Prudential Financial during the first quarter valued at $90,010,000. Finally, Goldman Sachs Group Inc. increased its position in Prudential Financial by 19.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock worth $469,777,000 after purchasing an additional 678,028 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

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.