Prudential Financial (PRU) PT Lowered to $98.00 at Credit Suisse Group

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Prudential Financial (NYSE:PRU) had its price target cut by research analysts at Credit Suisse Group from $102.00 to $98.00 in a note issued to investors on Friday. The firm currently has a “neutral” rating on the financial services provider’s stock. Credit Suisse Group’s price target suggests a potential downside of 0.21% from the stock’s current price.

PRU has been the subject of several other reports. Barclays cut their price objective on Prudential Financial from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Monday, July 9th. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research note on Monday, August 6th. B. Riley cut their price objective on Prudential Financial from $129.00 to $116.00 and set a “buy” rating for the company in a research note on Monday, July 16th. ValuEngine lowered Prudential Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Wells Fargo & Co reiterated a “hold” rating and set a $111.00 price objective on shares of Prudential Financial in a research note on Thursday, May 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Prudential Financial currently has a consensus rating of “Buy” and a consensus target price of $116.43.

Shares of Prudential Financial stock traded up $0.11 on Friday, hitting $98.21. The company’s stock had a trading volume of 13,384 shares, compared to its average volume of 2,061,752. Prudential Financial has a 1 year low of $92.05 and a 1 year high of $127.14. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.34. The firm has a market cap of $40.44 billion, a PE ratio of 9.29, a P/E/G ratio of 0.89 and a beta of 1.51.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $3.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.08 by ($0.07). Prudential Financial had a return on equity of 9.98% and a net margin of 13.16%. The firm had revenue of $13.04 billion for the quarter, compared to analysts’ expectations of $14.19 billion. During the same quarter last year, the firm posted $2.09 earnings per share. sell-side analysts expect that Prudential Financial will post 12.12 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. Andra AP fonden lifted its holdings in Prudential Financial by 23.0% in the second quarter. Andra AP fonden now owns 102,000 shares of the financial services provider’s stock valued at $9,538,000 after acquiring an additional 19,100 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Prudential Financial by 79.0% in the second quarter. Schroder Investment Management Group now owns 96,063 shares of the financial services provider’s stock valued at $8,991,000 after acquiring an additional 42,405 shares during the last quarter. Verition Fund Management LLC lifted its holdings in Prudential Financial by 3.6% in the second quarter. Verition Fund Management LLC now owns 37,500 shares of the financial services provider’s stock valued at $3,507,000 after acquiring an additional 1,319 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Prudential Financial by 1,360.6% in the second quarter. Advisors Asset Management Inc. now owns 384,553 shares of the financial services provider’s stock valued at $2,158,000 after acquiring an additional 358,225 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Prudential Financial by 6.9% in the second quarter. California Public Employees Retirement System now owns 1,193,401 shares of the financial services provider’s stock valued at $111,595,000 after acquiring an additional 76,691 shares during the last quarter. Institutional investors and hedge funds own 64.61% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

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Analyst Recommendations for Prudential Financial (NYSE:PRU)

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