Blue Trust Inc. raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) by 34.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,501 shares of the financial services provider’s stock after acquiring an additional 1,658 shares during the quarter. Blue Trust Inc.’s holdings in Prudential Financial were worth $787,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Grove Bank & Trust increased its stake in shares of Prudential Financial by 65.9% in the 4th 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. Avidian Wealth Enterprises LLC lifted its stake in Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after acquiring an additional 89 shares in the last quarter. Daymark Wealth Partners LLC lifted its position in shares of Prudential Financial by 3.9% in the third quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 97 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Prudential Financial by 2.7% in the 3rd quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 97 shares in the last quarter. Finally, Pure Financial Advisors LLC grew its stake in shares of Prudential Financial by 2.7% in the third quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider’s stock valued at $454,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Piper Sandler reduced their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. TD Cowen boosted their price target on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Jefferies Financial Group increased their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research note on Thursday, January 16th. Finally, BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $125.31.
Prudential Financial Stock Up 1.0 %
Shares of NYSE:PRU opened at $122.44 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial, Inc. has a 52-week low of $100.60 and a 52-week high of $130.55. The business’s 50 day simple moving average is $121.07 and its two-hundred day simple moving average is $120.65. The firm has a market cap of $43.59 billion, a P/E ratio of 10.88, a PEG ratio of 1.09 and a beta of 1.31.
Prudential Financial (NYSE:PRU – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter last year, the firm posted $3.44 EPS. As a group, research analysts forecast that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.
Prudential Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is presently 46.22%.
Insider Buying and Selling
In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by company insiders.
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.
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