Asset Allocation & Management Company LLC Invests $209,000 in Prudential Financial, Inc. (NYSE:PRU)

Asset Allocation & Management Company LLC bought a new position in Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,763 shares of the financial services provider’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PRU. Ashton Thomas Securities LLC bought a new position in shares of Prudential Financial in the third quarter worth about $31,000. Quarry LP lifted its holdings in shares of Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 222 shares during the last quarter. Tompkins Financial Corp lifted its holdings in shares of Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 140 shares during the last quarter. GHP Investment Advisors Inc. lifted its holdings in shares of Prudential Financial by 235.4% in the third quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 266 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new position in Prudential Financial in the 3rd quarter valued at approximately $48,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.6 %

Shares of PRU stock traded up $0.65 during trading hours on Monday, hitting $115.18. 263,432 shares of the company were exchanged, compared to its average volume of 1,173,648. The firm has a market cap of $41.00 billion, a P/E ratio of 10.24, a P/E/G ratio of 0.87 and a beta of 1.31. Prudential Financial, Inc. has a fifty-two week low of $100.60 and a fifty-two week 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 company has a 50 day simple moving average of $122.52 and a two-hundred day simple moving average of $120.67.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) 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 company had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period last year, the business earned $3.44 EPS. Equities analysts anticipate that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is currently 46.22%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction on Monday, November 25th. The shares were acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

PRU has been the subject of a number of research reports. Jefferies Financial Group raised their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Barclays raised their price objective on shares of Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Wells Fargo & Company raised their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Piper Sandler raised their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, TD Cowen raised their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Eleven analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $127.17.

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.