Prudential Financial, Inc. (NYSE:PRU) Shares Bought by PFG Investments LLC

PFG Investments LLC lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 10.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,412 shares of the financial services provider’s stock after purchasing an additional 830 shares during the quarter. PFG Investments LLC’s holdings in Prudential Financial were worth $997,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in PRU. Glenmede Trust Co. NA grew its position in shares of Prudential Financial by 7.4% during the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after acquiring an additional 1,234 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of Prudential Financial during the 4th quarter worth $3,423,000. Gateway Investment Advisers LLC increased its position in Prudential Financial by 56.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after purchasing an additional 7,907 shares in the last quarter. Principal Financial Group Inc. increased its position in Prudential Financial by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after purchasing an additional 15,695 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Prudential Financial by 2.3% in the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after buying an additional 1,765 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

Prudential Financial Trading Up 0.5 %

PRU stock opened at $121.12 on Wednesday. The company has a market cap of $43.12 billion, a P/E ratio of 10.77, a PEG ratio of 1.09 and a beta of 1.31. Prudential Financial, Inc. has a twelve month low of $100.60 and a twelve month high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The business has a fifty day moving average of $121.14 and a 200-day moving average of $120.67.

Prudential Financial (NYSE:PRU) last released its 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. The company had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the company posted $3.44 earnings per share. As a group, equities research analysts expect that Prudential Financial, Inc. will post 13.24 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.29%. Prudential Financial’s payout ratio is 46.22%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Piper Sandler reduced their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. BMO Capital Markets initiated coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Jefferies Financial Group upped their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, TD Cowen upped their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average price target of $125.31.

Prudential Financial Company 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.