Prudential Financial (NYSE:PRU) Given New $106.00 Price Target at Keefe, Bruyette & Woods

Prudential Financial (NYSE:PRU) had its price objective hoisted by stock analysts at Keefe, Bruyette & Woods from $100.00 to $106.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 2.73% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating and reduced their price target for the company from $124.00 to $98.00 in a research report on Wednesday, April 22nd. Mizuho boosted their price target on Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Barclays upped their price target on Prudential Financial from $89.00 to $90.00 and gave the company an “underweight” rating in a report on Wednesday, May 6th. UBS Group reduced their price objective on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Finally, Zacks Research cut shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Nine investment analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $101.50.

Prudential Financial Stock Up 0.6%

Shares of NYSE:PRU traded up $0.61 on Wednesday, hitting $103.19. 229,241 shares of the company traded hands, compared to its average volume of 2,318,653. The stock has a 50 day simple moving average of $96.93 and a 200-day simple moving average of $104.56. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The company has a market cap of $35.81 billion, a PE ratio of 10.62, a PEG ratio of 1.83 and a beta of 0.86. Prudential Financial has a 52 week low of $91.89 and a 52 week high of $119.76.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating the consensus estimate of $3.09 by $0.52. The company had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same period in the prior year, the firm posted $3.29 EPS. As a group, research analysts expect that Prudential Financial will post 13.72 earnings per share for the current year.

Insider Activity at Prudential Financial

In other Prudential Financial news, Director Thomas D. Stoddard purchased 250 shares of Prudential Financial stock in a transaction dated Tuesday, February 17th. The stock was purchased at an average price of $102.97 per share, with a total value of $25,742.50. Following the transaction, the director directly owned 250 shares of the company’s stock, valued at $25,742.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.05% of the stock is owned by insiders.

Institutional Trading of Prudential Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jessup Wealth Management Inc bought a new position in Prudential Financial in the 4th quarter worth $25,000. Garton & Associates Financial Advisors LLC bought a new stake in Prudential Financial during the fourth quarter valued at about $26,000. Salomon & Ludwin LLC increased its position in Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after buying an additional 114 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Prudential Financial by 93.1% in the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after buying an additional 134 shares during the period. Finally, Lodestone Wealth Management LLC purchased a new position in shares of Prudential Financial during the 4th quarter valued at about $28,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.