Prudential Financial (NYSE:PRU) Price Target Lowered to $101.00 at Mizuho

Prudential Financial (NYSE:PRU) had its target price decreased by investment analysts at Mizuho from $113.00 to $101.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Mizuho’s price objective suggests a potential upside of 3.25% from the stock’s current price.

PRU has been the subject of several other research reports. Keefe, Bruyette & Woods decreased their price objective on Prudential Financial from $106.00 to $104.00 and set a “market perform” rating for the company in a report on Friday. Wells Fargo & Company reduced their target price on Prudential Financial from $103.00 to $95.00 and set an “underweight” rating for the company in a research note on Friday. UBS Group reduced their target price on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a research note on Thursday. Morgan Stanley reduced their target price on 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. Finally, Weiss Ratings lowered Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Nine research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $108.44.

Prudential Financial Stock Up 1.0%

NYSE PRU traded up $0.93 during midday trading on Monday, hitting $97.83. 752,389 shares of the company traded hands, compared to its average volume of 2,297,514. Prudential Financial has a 52 week low of $91.89 and a 52 week high of $119.76. The company’s 50-day simple moving average is $98.77 and its 200-day simple moving average is $105.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $34.03 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.20 and a beta of 0.95.

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

Insider Buying and Selling

In related news, Director Joseph J. Wolk acquired 400 shares of Prudential Financial stock in a transaction on 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 purchase, the director owned 400 shares of the company’s stock, valued at approximately $42,128. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 1,406,739 shares of Prudential Financial stock in a transaction on Friday, January 23rd. The shares were bought at an average price of $24.87 per share, with a total value of $34,985,598.93. Following the purchase, the insider directly owned 7,709,624 shares in the company, valued at approximately $191,738,348.88. The trade was a 22.32% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 1,408,389 shares of company stock worth $35,154,439. Corporate insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Institutional investors have recently modified their holdings of the stock. Summit Global Investments grew its position in shares of Prudential Financial by 71.1% during the 3rd quarter. Summit Global Investments now owns 13,021 shares of the financial services provider’s stock valued at $1,351,000 after acquiring an additional 5,412 shares during the period. Machina Capital S.A.S. acquired a new stake in shares of Prudential Financial during the 3rd quarter valued at about $1,285,000. Mattson Financial Services LLC grew its position in shares of Prudential Financial by 312.8% during the 3rd quarter. Mattson Financial Services LLC now owns 12,119 shares of the financial services provider’s stock valued at $1,257,000 after acquiring an additional 9,183 shares during the period. First Horizon Corp acquired a new stake in shares of Prudential Financial during the 3rd quarter valued at about $5,856,000. Finally, Varma Mutual Pension Insurance Co grew its position in shares of Prudential Financial by 22.0% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 108,839 shares of the financial services provider’s stock valued at $11,291,000 after acquiring an additional 19,600 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

About Prudential Financial

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.