Prudential Financial (NYSE:PRU) Given a $115.00 Price Target at Wells Fargo & Co

Wells Fargo & Co set a $115.00 price objective on Prudential Financial (NYSE:PRU) in a report issued on Wednesday morning, TipRanks reports. The firm currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank lifted their target price on shares of Prudential Financial from $97.00 to $104.00 and gave the stock a hold rating in a research report on Friday, April 12th. Zacks Investment Research raised shares of Prudential Financial from a hold rating to a buy rating and set a $113.00 target price on the stock in a research report on Wednesday, May 8th. ValuEngine cut shares of Prudential Financial from a sell rating to a strong sell rating in a report on Thursday. B. Riley cut shares of Prudential Financial from a buy rating to a neutral rating and lowered their price target for the stock from $122.00 to $100.00 in a report on Thursday. Finally, Citigroup set a $112.00 price target on shares of Prudential Financial and gave the stock a buy rating in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $108.59.

Shares of Prudential Financial stock traded down $2.53 during mid-day trading on Wednesday, hitting $88.56. 4,231,773 shares of the stock were exchanged, compared to its average volume of 2,026,680. Prudential Financial has a 12 month low of $75.61 and a 12 month high of $106.64. The firm’s 50-day moving average is $100.68. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $41.55 billion, a P/E ratio of 7.58, a P/E/G ratio of 0.90 and a beta of 1.48.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $3.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.22 by ($0.08). Prudential Financial had a return on equity of 9.87% and a net margin of 6.18%. The firm had revenue of $14.11 billion for the quarter, compared to the consensus estimate of $13.63 billion. During the same period in the prior year, the business earned $3.01 EPS. On average, research analysts predict that Prudential Financial will post 12.68 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of PRU. BlackRock Inc. raised its holdings in Prudential Financial by 6.5% during the 1st quarter. BlackRock Inc. now owns 29,555,017 shares of the financial services provider’s stock valued at $2,715,518,000 after acquiring an additional 1,810,818 shares during the period. Geode Capital Management LLC raised its holdings in Prudential Financial by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 5,129,191 shares of the financial services provider’s stock valued at $417,519,000 after acquiring an additional 326,075 shares during the period. Acadian Asset Management LLC raised its holdings in Prudential Financial by 23.3% during the 1st quarter. Acadian Asset Management LLC now owns 1,346,823 shares of the financial services provider’s stock valued at $123,741,000 after acquiring an additional 254,633 shares during the period. Toronto Dominion Bank raised its holdings in Prudential Financial by 101.1% during the 1st quarter. Toronto Dominion Bank now owns 460,179 shares of the financial services provider’s stock valued at $42,276,000 after acquiring an additional 231,402 shares during the period. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in Prudential Financial by 5.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,487,379 shares of the financial services provider’s stock valued at $228,541,000 after acquiring an additional 131,406 shares during the period. 63.04% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Company Profile

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.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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