Prudential Financial (NYSE:PRU) Price Target Cut to $125.00 by Analysts at Keefe, Bruyette & Woods

Prudential Financial (NYSE:PRU) had its price target cut by Keefe, Bruyette & Woods from $129.00 to $125.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on the stock. TD Cowen lifted their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. BMO Capital Markets started coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective for the company. Jefferies Financial Group boosted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price target for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Piper Sandler reduced their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $125.46.

Prudential Financial Stock Down 0.7 %

Shares of NYSE:PRU opened at $110.82 on Wednesday. Prudential Financial has a one year low of $104.02 and a one year high of $130.55. The company has a 50 day moving average of $118.78 and a 200-day moving average of $120.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.14. The stock has a market cap of $39.45 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 1.00 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, sell-side analysts forecast that Prudential Financial will post 14.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be issued a $1.35 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.87%. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s payout ratio is currently 69.61%.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now directly 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Prudential Financial

A number of institutional investors have recently bought and sold shares of PRU. Grove Bank & Trust grew its position in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Prudential Financial in the 4th quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new position in Prudential Financial in the 3rd quarter valued at $31,000. CGC Financial Services LLC raised its holdings in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 124 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new position in Prudential Financial in the 4th quarter valued at $33,000. 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.