Prudential Financial (NYSE:PRU) Price Target Raised to $96.00

Prudential Financial (NYSE:PRU) had its price target hoisted by Barclays from $92.00 to $96.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has an underweight rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on PRU. Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Jefferies Financial Group lifted their price objective on Prudential Financial from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. increased their target price on Prudential Financial from $129.00 to $131.00 and gave the stock a “neutral” rating in a research report on Monday, August 17th. TD Cowen raised their price target on Prudential Financial from $102.00 to $114.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Prudential Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 29th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $109.62.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $113.09 on Wednesday. The company has a 50-day simple moving average of $119.18 and a 200-day simple moving average of $110.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $39.02 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 1.70 and a beta of 0.85. Prudential Financial has a 12 month low of $91.89 and a 12 month high of $127.72.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.56. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same quarter in the prior year, the firm posted $3.58 earnings per share. On average, equities analysts anticipate that Prudential Financial will post 14.54 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Tuesday, August 25th. Prudential Financial’s dividend payout ratio is presently 50.72%.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann Kappler sold 7,652 shares of Prudential Financial stock in a transaction on Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the transaction, the executive vice president owned 14,407 shares in the company, valued at approximately $1,801,019.07. This trade represents a 34.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total value of $5,314,963.50. Following the sale, the insider directly owned 7,973,657 shares of the company’s stock, valued at approximately $197,348,010.75. This trade represents a 2.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.05% of the company’s stock.

Institutional Trading of Prudential Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Moody National Bank Trust Division lifted its holdings in shares of Prudential Financial by 8.8% during the 3rd quarter. Moody National Bank Trust Division now owns 7,042 shares of the financial services provider’s stock valued at $800,000 after acquiring an additional 568 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Prudential Financial by 17.2% in the 2nd quarter. QRG Capital Management Inc. now owns 40,530 shares of the financial services provider’s stock valued at $4,374,000 after purchasing an additional 5,949 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Prudential Financial by 4.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,246 shares of the financial services provider’s stock valued at $998,000 after purchasing an additional 384 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Prudential Financial by 2.7% in the second quarter. Envestnet Asset Management Inc. now owns 739,294 shares of the financial services provider’s stock valued at $79,792,000 after purchasing an additional 19,451 shares during the period. Finally, State Street Corp lifted its stake in shares of Prudential Financial by 1.2% during the second quarter. State Street Corp now owns 17,164,760 shares of the financial services provider’s stock worth $1,852,593,000 after purchasing an additional 209,179 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

More Prudential Financial News

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Prudential said its Japanese subsidiaries are cooperating with the FSA and outlined remediation measures and a path forward following a misconduct investigation. The company’s response could help contain longer-term regulatory and operational risks. Prudential Financial Provides Update on FSA Orders and Path Forward for its Japan Businesses
• Positive Sentiment: Some analysts remain constructive on Prudential’s capital-light strategy, product diversification, cost controls, digital capabilities and potential for continued shareholder distributions. Recent commentary suggests the shares may be undervalued after their pullback. How Zacks’ Backing of Prudential’s Capital-Light Strategy Will Impact Prudential Financial Investors
• Positive Sentiment: Barclays reportedly raised its price target for PRU, indicating that at least one major analyst sees additional upside despite the recent weakness. Prudential Financial Stock Gets Price Target Increase from Barclays
• Neutral Sentiment: Prudential Singapore launched a multi-generational protection product, supporting the company’s broader product diversification, although the announcement is unlikely to materially offset near-term concerns over Japan. Prudential Singapore Launches Multi-Generational Protection Plan
• Negative Sentiment: Prudential Life Insurance Company in Japan cannot solicit new business until January 31, 2027, while related subsidiaries face improvement orders. The suspension may weigh on Japan revenue and increase compliance and remediation expenses. Prudential Financial’s Japanese Businesses Get Suspension and Improvement Orders
• Negative Sentiment: The orders follow findings involving employee misconduct and customer funds, with Japanese executives taking pay cuts. The episode raises governance, control and reputational concerns for PRU investors. Prudential Japan Executives Take Pay Cuts Over Staff Misconduct
• Negative Sentiment: Mizuho lowered its PRU price target to $109 from $113 and issued a pessimistic forecast, reinforcing concerns about the near-term impact of the Japan regulatory problems. Mizuho Securities Adjusts Prudential Financial Price Target

About Prudential Financial

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in 1875 and headquartered in Newark, New Jersey, the company serves individual, institutional and workplace customers through businesses in the United States and selected international markets.

In the United States, Prudential offers life insurance, annuities, retirement plans and group insurance products, including coverage for employees and their families.