Prudential Financial (NYSE:PRU) Given New $152.00 Price Target at Jefferies Financial Group

Prudential Financial (NYSE:PRU) had its price target lifted by stock analysts at Jefferies Financial Group from $149.00 to $152.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 24.75% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Morgan Stanley lowered their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Barclays lifted their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. TD Cowen upped their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, Bank of America lifted their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $126.33.

Prudential Financial Trading Down 0.6 %

Shares of PRU traded down $0.72 during mid-day trading on Tuesday, hitting $121.84. 210,100 shares of the company’s stock traded hands, compared to its average volume of 1,489,227. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $124.95 and its 200-day moving average price is $120.43. The firm has a market capitalization of $43.38 billion, a P/E ratio of 10.83, a PEG ratio of 0.91 and a beta of 1.29. Prudential Financial has a 1 year low of $100.60 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $14.57 billion. During the same period in the prior year, the firm earned $3.44 earnings per share. As a group, sell-side analysts forecast that Prudential Financial will post 13.35 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. The trade was a 6.61 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

A number of hedge funds have recently modified their holdings of PRU. Glenmede Trust Co. NA boosted its holdings in Prudential Financial by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after buying an additional 1,234 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Prudential Financial by 2.3% in the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock worth $9,597,000 after acquiring an additional 1,765 shares during the period. First Horizon Advisors Inc. raised its stake in Prudential Financial by 4.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock valued at $19,701,000 after purchasing an additional 6,641 shares during the period. ORG Partners LLC purchased a new position in Prudential Financial in the 2nd quarter worth approximately $156,000. Finally, PGGM Investments boosted its stake in Prudential Financial by 98.0% in the 2nd quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock worth $7,533,000 after purchasing an additional 31,807 shares during the period. 56.83% of the stock is currently owned by 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.