Prudential Financial (NYSE:PRU) PT Lowered to $110.00 at JPMorgan Chase & Co.

Prudential Financial (NYSE:PRU) had its price objective cut by JPMorgan Chase & Co. from $115.00 to $110.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other brokerages also recently commented on PRU. Wells Fargo & Co downgraded shares of Prudential Financial from an outperform rating to a market perform rating and set a $92.00 target price for the company. in a report on Tuesday. Morgan Stanley reduced their target price on shares of Prudential Financial from $110.00 to $108.00 and set an equal weight rating for the company in a report on Tuesday, October 15th. Zacks Investment Research upgraded shares of Prudential Financial from a sell rating to a hold rating and set a $89.00 target price for the company in a report on Tuesday, September 10th. HSBC reiterated a buy rating on shares of Prudential Financial in a report on Tuesday, October 22nd. Finally, B. Riley downgraded shares of Prudential Financial from a buy rating to a neutral rating and reduced their target price for the stock from $122.00 to $100.00 in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $96.81.

Shares of Prudential Financial stock opened at $92.89 on Tuesday. The company has a market capitalization of $37.00 billion, a PE ratio of 7.95, a P/E/G ratio of 0.85 and a beta of 1.57. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.11 and a current ratio of 0.11. The company has a 50-day simple moving average of $89.97 and a two-hundred day simple moving average of $93.72. Prudential Financial has a one year low of $75.61 and a one year high of $106.39.

Prudential Financial (NYSE:PRU) last announced its earnings results on Monday, November 4th. The financial services provider reported $3.22 EPS for the quarter, topping the Zacks’ consensus estimate of $3.07 by $0.15. The business had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $14.27 billion. Prudential Financial had a net margin of 6.67% and a return on equity of 8.45%. During the same period in the previous year, the company posted $3.15 earnings per share. On average, equities analysts predict that Prudential Financial will post 11.98 earnings per share for the current fiscal year.

In related news, EVP Robert Falzon acquired 3,580 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $83.98 per share, for a total transaction of $300,648.40. Following the completion of the acquisition, the executive vice president now directly owns 64,228 shares in the company, valued at approximately $5,393,867.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Charles F. Lowrey acquired 7,500 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were bought at an average price of $83.68 per share, for a total transaction of $627,600.00. Following the acquisition, the chief executive officer now owns 64,263 shares of the company’s stock, valued at $5,377,527.84. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 13,580 shares of company stock worth $1,137,848. Corporate insiders own 0.76% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Buckingham Capital Management Inc. boosted its position in Prudential Financial by 5.5% in the first quarter. Buckingham Capital Management Inc. now owns 16,382 shares of the financial services provider’s stock valued at $1,505,000 after buying an additional 850 shares during the last quarter. DNB Asset Management AS boosted its position in Prudential Financial by 15.7% in the second quarter. DNB Asset Management AS now owns 88,817 shares of the financial services provider’s stock valued at $8,971,000 after buying an additional 12,084 shares during the last quarter. Denali Advisors LLC boosted its position in Prudential Financial by 12.2% in the second quarter. Denali Advisors LLC now owns 21,100 shares of the financial services provider’s stock valued at $2,131,000 after buying an additional 2,300 shares during the last quarter. WINTON GROUP Ltd boosted its position in Prudential Financial by 19.9% in the second quarter. WINTON GROUP Ltd now owns 150,950 shares of the financial services provider’s stock valued at $15,246,000 after buying an additional 25,013 shares during the last quarter. Finally, Douglas Lane & Associates LLC boosted its position in Prudential Financial by 1.2% in the second quarter. Douglas Lane & Associates LLC now owns 909,198 shares of the financial services provider’s stock valued at $91,829,000 after buying an additional 10,867 shares during the last quarter. Hedge funds and other institutional investors own 62.75% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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