Truvestments Capital LLC Acquires New Holdings in Prudential Financial, Inc. (NYSE:PRU)

Truvestments Capital LLC acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 894 shares of the financial services provider’s stock, valued at approximately $108,000.

Other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in Prudential Financial by 4.3% during the third quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock valued at $19,701,000 after buying an additional 6,641 shares during the period. ORG Partners LLC purchased a new position in Prudential Financial during the second quarter valued at approximately $156,000. PGGM Investments increased its holdings in Prudential Financial by 98.0% during the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock valued at $7,533,000 after buying an additional 31,807 shares during the period. Janus Henderson Group PLC increased its holdings in Prudential Financial by 49.5% during the first quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock valued at $9,409,000 after buying an additional 26,520 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new position in Prudential Financial in the second quarter worth $530,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PRU shares. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Piper Sandler lifted their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Morgan Stanley cut their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, UBS Group boosted their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $125.69.

Prudential Financial Trading Up 0.3 %

Shares of Prudential Financial stock opened at $129.11 on Wednesday. The firm has a market capitalization of $45.96 billion, a PE ratio of 11.48, a P/E/G ratio of 0.91 and a beta of 1.29. Prudential Financial, Inc. has a twelve month low of $94.92 and a twelve month high of $129.69. The firm’s 50-day moving average price is $123.72 and its 200 day moving average price is $119.89. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period last year, the company posted $3.44 EPS. On average, sell-side analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio is presently 46.22%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

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.