Prudential Financial, Inc. (NYSE:PRU) Stake Increased by PDS Planning Inc

PDS Planning Inc raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 6.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,043 shares of the financial services provider’s stock after acquiring an additional 125 shares during the quarter. PDS Planning Inc’s holdings in Prudential Financial were worth $247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PRU. Annex Advisory Services LLC lifted its stake in Prudential Financial by 3.4% during the second quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 81 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Prudential Financial by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock valued at $951,000 after buying an additional 87 shares during the period. Quotient Wealth Partners LLC grew its position in shares of Prudential Financial by 3.9% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock valued at $284,000 after buying an additional 92 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its stake in Prudential Financial by 4.6% during the first quarter. Jaffetilchin Investment Partners LLC now owns 2,131 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 94 shares during the period. Finally, Daymark Wealth Partners LLC boosted its stake in Prudential Financial by 3.9% in the third quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 97 shares during the period. Institutional investors own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were bought at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research reports. TD Cowen assumed coverage on Prudential Financial in a research report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price target on the stock. Bank of America raised their target price on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Citigroup upped their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Piper Sandler lifted their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $123.85.

Prudential Financial Stock Down 0.4 %

PRU opened at $120.18 on Wednesday. The stock’s fifty day moving average is $121.20 and its 200-day moving average is $118.55. Prudential Financial, Inc. has a one year low of $89.90 and a one year high of $128.52. The company has a market capitalization of $42.78 billion, a PE ratio of 10.68, a P/E/G ratio of 0.86 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the previous year, the firm earned $3.44 EPS. On average, equities analysts predict that Prudential Financial, Inc. will post 13.32 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.33%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.