Prudential Financial, Inc. (NYSE:PRU) Holdings Trimmed by FRG Family Wealth Advisors LLC

FRG Family Wealth Advisors LLC lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 9.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,980 shares of the financial services provider’s stock after selling 875 shares during the period. FRG Family Wealth Advisors LLC’s holdings in Prudential Financial were worth $966,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. State Street Corp grew its stake in Prudential Financial by 0.3% during the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock valued at $2,059,549,000 after acquiring an additional 49,830 shares in the last quarter. Geode Capital Management LLC increased its stake in Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after buying an additional 341,787 shares during the period. Legal & General Group Plc lifted its position in Prudential Financial by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after buying an additional 305,143 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Prudential Financial by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock valued at $370,327,000 after buying an additional 47,561 shares during the period. Finally, FMR LLC increased its stake in shares of Prudential Financial by 31.3% in the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after acquiring an additional 344,254 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. UBS Group lifted their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Wells Fargo & Company upped their price target on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Barclays boosted 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, Bank of America increased their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Eleven analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average price target of $125.42.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $122.56 on Tuesday. Prudential Financial, Inc. has a twelve month low of $100.60 and a twelve month high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market cap of $43.63 billion, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. The firm’s 50-day simple moving average is $124.95 and its 200-day simple moving average is $120.43.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $14.57 billion. During the same quarter in the previous year, the firm earned $3.44 EPS. As a group, research analysts expect that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be given a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.24%. Prudential Financial’s payout ratio is 46.22%.

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.