GWN Securities Inc. Acquires New Position in Prudential Financial, Inc. (NYSE:PRU)

GWN Securities Inc. acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, Holdings Channel.com reports. The firm acquired 4,453 shares of the financial services provider’s stock, valued at approximately $522,000.

Several other large investors have also bought and sold shares of PRU. Grove Bank & Trust lifted its holdings in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. Centricity Wealth Management LLC bought a new stake in Prudential Financial in the fourth quarter valued at approximately $29,000. CGC Financial Services LLC increased its stake in Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in Prudential Financial in the fourth quarter valued at approximately $33,000. Finally, Quarry LP increased its stake in Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the purchase, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PRU. Barclays upped their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. TD Cowen increased their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Piper Sandler lowered their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Jefferies Financial Group increased their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company increased their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. One equities research 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $126.15.

Prudential Financial Stock Performance

Shares of PRU stock opened at $108.64 on Monday. The stock has a market cap of $38.89 billion, a P/E ratio of 14.54, a P/E/G ratio of 0.98 and a beta of 1.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The company has a fifty day moving average price of $114.31 and a two-hundred day moving average price of $119.39. Prudential Financial, Inc. has a one year low of $104.45 and a one year high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 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%. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

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

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.