Prudential Financial’s stock has reached a new 52-week high amidst changes in institutional investor stakes, potentially impacting its price.
🔴 (-3.0%) short-term forecast
🔴 (-5.0%) long-term forecast
Stock AI’s (PRU) Forecast get (+12.6% Profit)
StockAI’s analysis delivers real-world results. On 13 February 2024, $PRU ($104.26), StockAI predicted a long-term 🟢 buy signal. It was accurate: 1 month later price increased to $117.4 (🟢12.6%). Buying PRU on this signal yielded a +12.6% profit 💰💰.
PRU-Prudential Financial, Inc. News
🟢 Prudential Financial (NYSE:PRU) stock hit a new 52-week high, reaching $118.51 during trading on Thursday.
🔴 Marcum Wealth LLC reduced their stake in PRU by 5.2% in the fourth quarter.
🟢 Evercore ISI increased PRU’s price target from $104.00 to $115.00 with an underperform rating.
🔴 Janiczek Wealth Management LLC increased their holdings in PRU by 49.6% in the fourth quarter.
🟢 Whittier Trust Co. of Nevada Inc. boosted their position in PRU by 12.8% during the fourth quarter.
🔴 State of Michigan Retirement System decreased their position in PRU by 1.6% in the fourth quarter.
The recent news surrounding Prudential Financial, Inc. stock has been a mix of positive and negative developments. While the stock hit a new 52-week high and received an increased price target from Evercore ISI, there were also instances of reduced stake holdings by Marcum Wealth LLC and Janiczek Wealth Management LLC. These conflicting events could lead to some uncertainty in the market and potentially impact the stock price in the short term.
Investors may react positively to the new high reached by PRU stock and the increased price target, driving up demand and pushing the price higher. However, the reduced stake holdings by institutional investors could signal a lack of confidence in the stock, leading to a potential decrease in price as selling pressure increases.
Overall, the mixed news for Prudential Financial, Inc. stock suggests that there may be some volatility in the near future. Investors should closely monitor developments and market sentiment to make informed decisions about their investment in PRU.
PRU-Prudential Financial, Inc. Analyst Ratings
**Analyst Ratings on Prudential Financial, Inc. Stock**
📈 Piper Sandler analysts raised their rating on Prudential Financial, Inc. (NYSE:PRU) stock from Market Perform to Outperform and increased the target price from $112.00 to $118.00.
📉 Morgan Stanley analysts downgraded their rating on Prudential Financial, Inc. (NYSE:PRU) stock from Equal Weight to Underweight and decreased the target price from $117.00 to $115.00.
📈 Evercore ISI analysts upgraded their rating on Prudential Financial, Inc. (NYSE:PRU) stock from Underperform to Neutral and maintained a target price of $115.00.
**Sources:**
1. [Forbes](https://www.forbes.com)
2. [ETF Daily News](https://www.etfdailynews.com)
3. [Marketbeat Ratings](https://www.marketbeat.com)
4. [Benzinga](https://www.benzinga.com)
5. [SEC](https://www.sec.gov)
Disclaimer
Investors may consider the AI predictions and news summaries as one factor in their investment decisions alongside their own research and risk tolerance.
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