Prudential Financial, Inc. (NYSE:PRU) Major Shareholder Acquires $2,499,989.84 in Stock

Prudential Financial, Inc. (NYSE:PRU) major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now owns 87,047 shares of the company’s stock, valued at approximately $2,499,989.84. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Prudential Financial Trading Up 3.4 %

NYSE:PRU opened at $108.64 on Friday. The firm has a market cap of $38.89 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The stock has a fifty day moving average price of $114.31 and a 200 day moving average price of $119.38. Prudential Financial, Inc. has a 12-month low of $104.45 and a 12-month high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.97%. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

Wall Street Analyst Weigh In

PRU has been the subject of several recent analyst reports. Barclays raised their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Wells Fargo & Company raised their target price on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Jefferies Financial Group raised their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley cut their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Finally, TD Cowen raised their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $126.15.

Institutional Trading of Prudential Financial

A number of institutional investors have recently bought and sold shares of PRU. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial during the 3rd quarter worth about $31,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Prudential Financial by 0.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 797,604 shares of the financial services provider’s stock worth $96,590,000 after buying an additional 3,000 shares during the last quarter. Aptus Capital Advisors LLC lifted its holdings in Prudential Financial by 5.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 5,527 shares of the financial services provider’s stock worth $669,000 after buying an additional 275 shares during the last quarter. MQS Management LLC purchased a new stake in Prudential Financial during the 3rd quarter worth about $548,000. Finally, Cable Hill Partners LLC lifted its holdings in Prudential Financial by 8.7% during the 3rd quarter. Cable Hill Partners LLC now owns 2,092 shares of the financial services provider’s stock worth $253,000 after buying an additional 167 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

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.