Prudential Financial (NYSE:PRU) Given New $110.00 Price Target at Barclays

Prudential Financial (NYSE:PRU) had its price objective reduced by Barclays from $119.00 to $110.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Other analysts have also issued research reports about the stock. Morgan Stanley dropped their price target on shares of Prudential Financial from $120.00 to $111.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 3rd. Evercore restated a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. JPMorgan Chase & Co. dropped their price target on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. Wells Fargo & Company lowered shares of Prudential Financial from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $115.00 to $103.00 in a research note on Wednesday, February 25th. Finally, Mizuho lowered their target price on shares of Prudential Financial from $126.00 to $113.00 and set a “neutral” rating for the company in a research note on Tuesday, February 10th. Nine equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $112.89.

Prudential Financial Stock Down 0.8%

Shares of NYSE:PRU opened at $96.66 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $99.31 and a 200 day simple moving average of $105.17. The firm has a market cap of $33.62 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 1.20 and a beta of 0.95. Prudential Financial has a 12-month low of $91.89 and a 12-month high of $119.76.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). The company had revenue of $14.52 billion during the quarter, compared to the consensus estimate of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same quarter last year, the firm posted $2.96 EPS. On average, equities research analysts anticipate that Prudential Financial will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th were given a dividend of $1.40 per share. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Tuesday, February 17th. Prudential Financial’s payout ratio is currently 56.00%.

Insider Activity

In other news, Director Joseph J. Wolk purchased 400 shares of the stock in a transaction dated Wednesday, February 11th. The stock was acquired at an average price of $105.32 per share, for a total transaction of $42,128.00. Following the completion of the transaction, the director owned 400 shares of the company’s stock, valued at approximately $42,128. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jacques Chappuis purchased 1,000 shares of the stock in a transaction dated Friday, February 6th. The shares were purchased at an average price of $100.97 per share, with a total value of $100,970.00. Following the transaction, the executive vice president directly owned 1,000 shares of the company’s stock, valued at approximately $100,970. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 1,408,389 shares of company stock worth $35,154,439 over the last ninety days. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Several institutional investors have recently bought and sold shares of PRU. Brighton Jones LLC lifted its holdings in Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 133 shares during the period. Empowered Funds LLC lifted its holdings in Prudential Financial by 30.5% in the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after purchasing an additional 4,134 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Prudential Financial by 12.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,320 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 254 shares during the period. Baird Financial Group Inc. lifted its holdings in Prudential Financial by 15.9% in the second quarter. Baird Financial Group Inc. now owns 55,602 shares of the financial services provider’s stock worth $5,974,000 after purchasing an additional 7,648 shares during the period. Finally, Brown Advisory Inc. lifted its holdings in Prudential Financial by 3.5% in the second quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.