Prudential Financial (NYSE:PRU) Given New $116.00 Price Target at Wells Fargo & Company

Prudential Financial (NYSE:PRU) had its price objective raised by Wells Fargo & Company from $113.00 to $116.00 in a research note released on Thursday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

PRU has been the subject of several other reports. Jefferies Financial Group cut their price objective on Prudential Financial from $143.00 to $141.00 and set a buy rating for the company in a report on Friday, June 28th. Morgan Stanley reduced their price target on Prudential Financial from $123.00 to $122.00 and set an equal weight rating for the company in a report on Monday, August 19th. TD Cowen assumed coverage on shares of Prudential Financial in a research report on Wednesday. They set a hold rating and a $130.00 price objective on the stock. UBS Group boosted their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a neutral rating in a research report on Tuesday, August 13th. Finally, Argus upgraded shares of Prudential Financial to a strong-buy rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $123.69.

Prudential Financial Trading Up 1.7 %

Shares of NYSE PRU opened at $123.72 on Thursday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial has a one year low of $87.95 and a one year high of $128.52. The business has a 50-day moving average price of $116.93 and a two-hundred day moving average price of $117.15. The firm has a market capitalization of $44.42 billion, a PE ratio of 21.04, a PEG ratio of 0.97 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. As a group, analysts predict that Prudential Financial will post 13.28 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.20%. Prudential Financial’s payout ratio is 88.44%.

Insiders Place Their Bets

In other news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Annex Advisory Services LLC boosted its position in shares of Prudential Financial by 3.4% during the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 81 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Prudential Financial by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock worth $951,000 after buying an additional 87 shares in the last quarter. Peoples Bank OH lifted its position in shares of Prudential Financial by 2.3% during the 1st quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock worth $475,000 after buying an additional 90 shares during the period. Quotient Wealth Partners LLC grew its position in Prudential Financial by 3.9% in the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 92 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Prudential Financial by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 94 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.