Prudential Financial (NYSE:PRU) Price Target Lowered to $122.00 at UBS Group

Prudential Financial (NYSE:PRU) had its price objective lowered by UBS Group from $130.00 to $122.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

PRU has been the subject of several other reports. JPMorgan Chase & Co. lowered their price target on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods dropped their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Morgan Stanley decreased their price target on 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. Jefferies Financial Group increased their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler decreased their target price on shares of Prudential Financial from $124.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus target price of $126.08.

Prudential Financial Price Performance

PRU opened at $112.83 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. The stock has a market capitalization of $40.39 billion, a P/E ratio of 15.10, a PEG ratio of 0.98 and a beta of 1.28. The stock has a 50-day moving average price of $112.69 and a 200-day moving average price of $118.87. Prudential Financial has a 12-month low of $104.45 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly 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%. Equities analysts predict that Prudential Financial will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.79%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s payout ratio is presently 72.29%.

Insider Transactions at Prudential Financial

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

Institutional Trading of Prudential Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Benjamin Edwards Inc. boosted its holdings in shares of Prudential Financial by 1,843.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 26,794 shares of the financial services provider’s stock valued at $3,246,000 after acquiring an additional 25,415 shares during the last quarter. Ascent Group LLC bought a new stake in Prudential Financial in the 3rd quarter worth approximately $200,000. Hilltop Holdings Inc. raised its stake in Prudential Financial by 25.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 11,473 shares of the financial services provider’s stock valued at $1,389,000 after buying an additional 2,316 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Prudential Financial by 18.7% during the 3rd quarter. HighTower Advisors LLC now owns 69,542 shares of the financial services provider’s stock valued at $8,395,000 after buying an additional 10,964 shares during the period. Finally, Janus Henderson Group PLC grew its holdings 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. Institutional investors own 56.83% of the company’s stock.

About Prudential Financial

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.