Barclays Has Lowered Expectations for Prudential Financial (NYSE:PRU) Stock Price

Prudential Financial (NYSE:PRU) had its price objective lowered by Barclays from $134.00 to $106.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would suggest a potential upside of 7.39% from the stock’s previous close.

PRU has been the subject of a number of other research reports. Piper Sandler reduced their price objective on Prudential Financial from $124.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. UBS Group decreased their price objective on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company dropped their target price on Prudential Financial from $118.00 to $108.00 and set an “equal weight” rating for the company in a report on Thursday. Morgan Stanley decreased their price target on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $125.00 to $120.00 and set a “market perform” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, ten have given 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 has a consensus rating of “Hold” and an average target price of $122.77.

Prudential Financial Stock Performance

PRU opened at $98.70 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market cap of $34.98 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 0.98 and a beta of 1.11. Prudential Financial has a 12-month low of $90.38 and a 12-month high of $130.55. The business has a 50 day moving average of $108.98 and a 200-day moving average of $117.58.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data 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 return on equity of 15.86% and a net margin of 4.01%. On average, equities research analysts expect that Prudential Financial will post 14.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the stock in a transaction dated Tuesday, March 25th. The stock was bought at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the acquisition, the insider now owns 139,987 shares of the company’s stock, valued at approximately $3,992,429.24. This represents a 60.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Several hedge funds have recently added to or reduced their stakes in the business. Grove Bank & Trust lifted its holdings in shares of 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 purchasing an additional 87 shares during the period. Centricity Wealth Management LLC acquired a new position in Prudential Financial during the 4th quarter worth about $29,000. CGC Financial Services LLC grew its position in shares of 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 buying an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in shares of Prudential Financial during the fourth quarter worth about $33,000. Finally, Hopwood Financial Services Inc. acquired a new position in shares of Prudential Financial in the fourth quarter worth approximately $34,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

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.