Morgan Stanley Lowers Prudential Financial (NYSE:PRU) Price Target to $128.00

Prudential Financial (NYSE:PRU) had its price objective reduced by analysts at Morgan Stanley from $136.00 to $128.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 12.51% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company upped their target price on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Jefferies Financial Group lifted 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. 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 research report on Thursday, November 14th. Finally, BMO Capital Markets initiated coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective on the stock. One 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $126.15.

Prudential Financial Price Performance

Shares of PRU traded up $1.02 during mid-day trading on Friday, hitting $113.77. The company’s stock had a trading volume of 452,484 shares, compared to its average volume of 1,666,493. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a 50-day moving average price of $116.41 and a 200 day moving average price of $119.72. Prudential Financial has a fifty-two week low of $104.44 and a fifty-two week high of $130.55. The stock has a market capitalization of $40.73 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (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, research analysts predict that Prudential Financial will post 14.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Prudential Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Savant Capital LLC raised its position in Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock valued at $1,705,000 after acquiring an additional 83 shares in the last quarter. Grove Bank & Trust raised its holdings 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 purchasing an additional 87 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in shares of Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 89 shares during the last quarter. HBK Sorce Advisory LLC boosted its holdings in Prudential Financial by 1.0% in the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider’s stock worth $1,116,000 after purchasing an additional 91 shares in the last quarter. Finally, Asset Dedication LLC increased its position in Prudential Financial by 28.4% during the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after buying an additional 93 shares during the last quarter. 56.83% of the stock is 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.