Prudential Financial (PRU) Receives a Buy from Piper Sandler

In a report released today, John Barnidge from Piper Sandler maintained a Buy rating on Prudential Financial (PRUResearch Report), with a price target of $64.00. The company’s shares closed last Friday at $46.09, close to its 52-week low of $38.62.

According to, Barnidge is a 2-star analyst with an average return of -1.7% and a 42.1% success rate. Barnidge covers the Financial sector, focusing on stocks such as American Equity Investment Life, Horace Mann Educators, and Brighthouse Financial.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Prudential Financial with a $75.70 average price target.

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Based on Prudential Financial’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $19.22 billion and net profit of $1.13 billion. In comparison, last year the company earned revenue of $18.43 billion and had a net profit of $842 million.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PRU in relation to earlier this year.

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Prudential Financial, Inc. engages in the provision of financial products and services including life insurance, annuities, mutual funds, and investment management to both individual and institutional customers. It operates through the following segments: U.S. Individual Solutions, U.S. Workplace Solutions, PGIM, International Insurance, Closed Block, and Corporate and Others. The U.S. Individual Solutions segment consists of individual annuities and individual life products. The U.S. Workplace Solutions segment comprises of the retirement and group insurance divisions. The PGIM segment provides a broad 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 (including mutual funds), insurance company separate accounts, government sponsored entities and the Company’s general account. The International Insurances segment manufactures and distributes individual life insurance, retirement, and related products to the mass affluent and affluent markets in Japan, Korea, and other foreign countries through its Life Planner operations. The Closed Block segment includes certain in force participating insurance and annuity products and corresponding assets that are used for the payment of benefits, expenses and policyholders’ dividends related to these products. The Corporate and Other Operations segment include corporate item or businesses that have been or will be divested. The company was founded by John Fairfield Dryden in 1875 and is headquartered in Newark, NJ.