Prudential Financial, Inc. (NYSE:PRU) Major Shareholder Insurance Co Of Ame Prudential Acquires 537,249 Shares of Stock

Prudential Financial, Inc. (NYSE:PRU) major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’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 completion of the transaction, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Insurance Co Of Ame Prudential also recently made the following trade(s):

• On Tuesday, October 8th, Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock. The stock was bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $129.52 on Thursday. Prudential Financial, Inc. has a 12-month low of $95.10 and a 12-month high of $130.55. The company’s 50 day moving average price is $123.93 and its two-hundred day moving average price is $119.96. The firm has a market cap of $46.11 billion, a PE ratio of 11.51, a PEG ratio of 0.91 and a beta of 1.29. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping 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 return on equity of 15.30% and a net margin of 6.03%. During the same quarter last year, the company earned $3.44 EPS. Equities research analysts predict that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.01%. Prudential Financial’s dividend payout ratio is 46.22%.

Wall Street Analysts Forecast Growth

PRU has been the topic of several recent analyst reports. Barclays boosted their price target on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Bank of America upped their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. UBS Group lifted their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Eleven research 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $125.92.

Institutional Trading of Prudential Financial

Several large investors have recently made changes to their positions in PRU. International Assets Investment Management LLC boosted its holdings in shares of Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after purchasing an additional 1,267,571 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Prudential Financial by 97.4% during the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after buying an additional 357,300 shares during the last quarter. FMR LLC boosted its stake in Prudential Financial by 31.3% in the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after buying an additional 344,254 shares in the last quarter. Geode Capital Management LLC grew its position in Prudential Financial by 4.1% in the third 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 acquiring an additional 341,787 shares during the last quarter. Finally, Swedbank AB acquired a new position in Prudential Financial during the first quarter worth about $35,855,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

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.