Prudential Financial (NYSE:PRU) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Prudential Financial (NYSE:PRU) had its price target lifted by Wells Fargo & Company from $113.00 to $118.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 5.64% from the stock’s previous close.

A number of other equities analysts have also weighed in on PRU. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective on the stock. Barclays boosted their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Jefferies Financial Group boosted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods decreased their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Finally, TD Cowen boosted their target price 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $125.69.

Prudential Financial Stock Up 0.1 %

PRU stock opened at $111.71 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial has a twelve month low of $104.44 and a twelve month high of $130.55. The company’s 50 day moving average is $117.46 and its two-hundred day moving average is $119.71. The stock has a market cap of $39.99 billion, a P/E ratio of 14.95, a PEG ratio of 0.99 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Research analysts expect that Prudential Financial will post 14.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Prudential Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Grove Bank & Trust boosted its stake 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 valued at $26,000 after buying an additional 87 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Prudential Financial during the 4th quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Prudential Financial during the 3rd quarter valued at approximately $31,000. CGC Financial Services LLC raised its position in shares of Prudential Financial by 82.1% during 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 stake in Prudential Financial in the fourth quarter worth $33,000. 56.83% of the stock is currently 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.