Prudential Financial, Inc. (NYSE:PRU) Major Shareholder Buys 52,595 Shares

Prudential Financial, Inc. (NYSE:PRU) major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the purchase, the insider now owns 139,987 shares in the company, valued at approximately $3,992,429.24. This trade represents a 60.18 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Major 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 Wednesday, March 12th, Insurance Co Of Ame Prudential bought 87,047 shares of Prudential Financial stock. The shares were acquired at an average cost of $28.72 per share, with a total value of $2,499,989.84.

Prudential Financial Price Performance

Shares of NYSE:PRU traded down $1.09 during trading on Thursday, reaching $114.50. The stock had a trading volume of 1,701,469 shares, compared to its average volume of 1,772,458. The business has a fifty day moving average price of $113.35 and a 200-day moving average price of $118.98. Prudential Financial, Inc. has a 1-year low of $104.44 and a 1-year high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market cap of $40.99 billion, a PE ratio of 15.33, a PEG ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Hedge Funds Weigh In On Prudential Financial

Institutional investors have recently added to or reduced their stakes in the stock. Savant Capital LLC raised its holdings in shares of Prudential Financial by 0.6% during the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock worth $1,705,000 after acquiring an additional 83 shares during the period. Grove Bank & Trust boosted its holdings in 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 purchasing an additional 87 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Prudential Financial by 1.0% during the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider’s stock worth $1,116,000 after buying an additional 91 shares during the last quarter. Asset Dedication LLC raised its position in shares of Prudential Financial by 28.4% during the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock valued at $50,000 after buying an additional 93 shares during the period. Finally, Altman Advisors Inc. grew its position in Prudential Financial by 0.6% in the fourth quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider’s stock worth $1,907,000 after acquiring an additional 94 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the topic of several analyst reports. TD Cowen increased their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. BMO Capital Markets initiated coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target for the company. Barclays raised their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods lowered their price target on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Finally, Piper Sandler cut their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $126.15.

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.