Evercore ISI Upgrades Prudential Financial (NYSE:PRU) to Inline

Prudential Financial (NYSE:PRU) was upgraded by research analysts at Evercore ISI from an “underperform” rating to an “inline” rating in a research report issued on Thursday,Briefing.com Automated Import reports. The firm currently has a $140.00 price target on the financial services provider’s stock, up from their previous price target of $117.00. Evercore ISI’s target price suggests a potential upside of 11.76% from the stock’s current price.

PRU has been the topic of several other research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. UBS Group increased their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. TD Cowen assumed coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price target on the stock. Citigroup increased their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, Piper Sandler increased their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Eleven analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average price target of $125.69.

Prudential Financial Stock Performance

PRU opened at $125.27 on Thursday. Prudential Financial has a 52-week low of $92.57 and a 52-week high of $129.13. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a market cap of $44.60 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The firm’s 50-day moving average price is $121.65 and its 200-day moving average price is $119.02.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the company posted $3.44 earnings per share. As a group, equities analysts anticipate that Prudential Financial will post 13.33 EPS for the current fiscal year.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PRU. Creekmur Asset Management LLC increased its stake in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial in the 2nd quarter worth $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Prudential Financial during the 3rd quarter worth about $31,000. Crewe Advisors LLC acquired a new stake in shares of Prudential Financial during the 1st quarter worth about $33,000. Finally, ESL Trust Services LLC acquired a new stake in shares of Prudential Financial during the 1st quarter worth about $34,000. 56.83% of the stock is owned by institutional investors and hedge funds.

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.