Prudential Financial (NYSE:PRU) had its target price dropped by stock analysts at Citigroup from $94.00 to $88.00 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Citigroup‘s price target points to a potential downside of 2.33% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Goldman Sachs Group dropped their price target on Prudential Financial from $107.00 to $99.00 and set a “buy” rating for the company in a report on Thursday. Wells Fargo & Co set a $115.00 price target on Prudential Financial and gave the company a “buy” rating in a report on Wednesday, July 31st. Barclays set a $108.00 price target on Prudential Financial and gave the company a “buy” rating in a report on Monday, August 12th. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating and set a $89.00 price objective on the stock in a research report on Tuesday. Finally, B. Riley lowered Prudential Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $122.00 to $100.00 in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Prudential Financial has a consensus rating of “Hold” and an average price target of $100.50.

PRU stock traded up $1.88 during midday trading on Friday, reaching $90.10. 29,607 shares of the company’s stock traded hands, compared to its average volume of 2,262,840. The company has a 50-day simple moving average of $85.92 and a two-hundred day simple moving average of $95.52. Prudential Financial has a 1-year low of $75.61 and a 1-year high of $106.64. The company has a market cap of $34.86 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 0.78 and a beta of 1.55. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $3.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.22 by ($0.08). Prudential Financial had a net margin of 6.92% and a return on equity of 9.24%. The business had revenue of $14.11 billion for the quarter, compared to analyst estimates of $13.63 billion. During the same period in the prior year, the business earned $3.01 earnings per share. Equities research analysts forecast that Prudential Financial will post 12.37 EPS for the current year.

In related news, CEO Charles F. Lowrey purchased 7,500 shares of Prudential Financial stock in a transaction dated Monday, September 9th. The shares were acquired at an average cost of $83.68 per share, for a total transaction of $627,600.00. Following the transaction, the chief executive officer now directly owns 64,263 shares of the company’s stock, valued at $5,377,527.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Falzon purchased 3,580 shares of Prudential Financial stock in a transaction dated Monday, September 9th. The stock was bought at an average price of $83.98 per share, for a total transaction of $300,648.40. Following the completion of the transaction, the executive vice president now directly owns 64,228 shares in the company, valued at $5,393,867.44. The disclosure for this purchase can be found here. Insiders acquired a total of 13,580 shares of company stock worth $1,137,848 over the last quarter. Corporate insiders own 0.76% of the company’s stock.

Several large investors have recently bought and sold shares of the company. River & Mercantile Asset Management LLP boosted its position in shares of Prudential Financial by 0.4% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 48,830 shares of the financial services provider’s stock worth $4,930,000 after purchasing an additional 200 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Prudential Financial by 6.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 116,882 shares of the financial services provider’s stock worth $11,805,000 after purchasing an additional 6,783 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Prudential Financial by 4.5% in the 2nd quarter. Rehmann Capital Advisory Group now owns 9,458 shares of the financial services provider’s stock worth $955,000 after purchasing an additional 410 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of Prudential Financial in the 2nd quarter worth $348,000. Finally, BlackRock Inc. boosted its position in shares of Prudential Financial by 6.2% in the 2nd quarter. BlackRock Inc. now owns 31,395,669 shares of the financial services provider’s stock worth $3,170,962,000 after purchasing an additional 1,840,652 shares during the last quarter. Institutional investors and hedge funds own 63.57% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

Further Reading: Overbought

Analyst Recommendations for Prudential Financial (NYSE:PRU)

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