Syon Capital LLC Acquires 545 Shares of Prudential Financial, Inc. (NYSE:PRU)

Syon Capital LLC grew its holdings in Prudential Financial, Inc. (NYSE:PRU) by 15.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,163 shares of the financial services provider’s stock after acquiring an additional 545 shares during the quarter. Syon Capital LLC’s holdings in Prudential Financial were worth $493,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Grove Bank & Trust raised its holdings in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Prudential Financial during the fourth quarter worth $29,000. CGC Financial Services LLC raised its holdings in shares of Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares during the period. Wingate Wealth Advisors Inc. bought a new stake in Prudential Financial in the 4th quarter valued at $33,000. Finally, Hopwood Financial Services Inc. acquired a new position in Prudential Financial in the 4th quarter worth $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling

In other news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now directly owns 87,047 shares of the company’s stock, valued at $2,499,989.84. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group cut their price target on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Piper Sandler cut their target price on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Barclays reduced their target price on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Finally, Wells Fargo & Company lowered their price target on shares of Prudential Financial from $118.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $121.85.

Prudential Financial Trading Up 2.4 %

Prudential Financial stock opened at $104.04 on Friday. 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 50-day simple moving average of $106.82 and a 200 day simple moving average of $116.34. The stock has a market capitalization of $36.87 billion, a P/E ratio of 13.93, a PEG ratio of 0.98 and a beta of 1.11. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55.

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

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend 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%.

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.