Prudential Financial (NYSE:PRU) Coverage Initiated by Analysts at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Prudential Financial (NYSE:PRU) in a note issued to investors on Thursday,Benzinga reports. The firm set an “underperform” rating and a $101.00 price target on the financial services provider’s stock. BMO Capital Markets’ target price would suggest a potential downside of 13.91% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. TD Cowen increased their price target on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Bank of America lifted their target price 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. Barclays cut their price target on shares of Prudential Financial from $129.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Piper Sandler lowered their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average price target of $125.31.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $117.32 on Thursday. Prudential Financial has a one year low of $100.60 and a one year high of $130.55. The company has a market capitalization of $41.76 billion, a PE ratio of 10.43, a P/E/G ratio of 1.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The company has a 50-day simple moving average of $121.68 and a two-hundred day simple moving average of $120.69.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The company had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the company posted $3.44 earnings per share. Research analysts expect that Prudential Financial will post 13.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Grove Bank & Trust raised its position in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Prudential Financial during the third quarter valued at approximately $31,000. Quarry LP boosted its stake in shares of Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 222 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Prudential Financial during the fourth quarter worth approximately $37,000. Finally, Tompkins Financial Corp lifted its holdings in Prudential Financial by 61.7% in the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 140 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

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.