Platform Technology Partners Has $235,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

Platform Technology Partners decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 13.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,943 shares of the financial services provider’s stock after selling 309 shares during the quarter. Platform Technology Partners’ holdings in Prudential Financial were worth $235,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. National Bank of Canada FI lifted its stake in Prudential Financial by 44.9% in the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock valued at $27,327,000 after purchasing an additional 71,274 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Prudential Financial during the 2nd quarter valued at $156,000. Russell Investments Group Ltd. grew its position in Prudential Financial by 25.0% during the 1st quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock worth $21,171,000 after acquiring an additional 36,159 shares during the last quarter. PGGM Investments increased its holdings in Prudential Financial by 98.0% in the 2nd quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock worth $7,533,000 after purchasing an additional 31,807 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Prudential Financial by 6.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 406,295 shares of the financial services provider’s stock valued at $47,699,000 after purchasing an additional 25,196 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the transaction, the insider now directly owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Prudential Financial Trading Up 0.4 %

PRU opened at $125.49 on Wednesday. The company has a fifty day moving average price of $121.55 and a two-hundred day moving average price of $118.91. Prudential Financial, Inc. has a 1-year low of $91.07 and a 1-year high of $129.13. The company has a market cap of $44.67 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the prior year, the business earned $3.44 EPS. Analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.14%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Piper Sandler upped their price objective on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Morgan Stanley decreased their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Barclays lifted their target price on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $123.85.

Prudential Financial Profile

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.