Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama raised its holdings in Prudential Financial, Inc. (NYSE:PRU) by 0.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 79,679 shares of the financial services provider’s stock after acquiring an additional 117 shares during the period. Retirement Systems of Alabama’s holdings in Prudential Financial were worth $9,354,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Cambridge Trust Co. grew its holdings in shares of Prudential Financial by 77.2% in the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 105 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $26,000. Headinvest LLC acquired a new stake in shares of Prudential Financial during the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC raised its position in shares of Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after buying an additional 185 shares during the period. Finally, Riverview Trust Co acquired a new position in Prudential Financial in the first quarter valued at approximately $37,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now owns 202,083 shares in the company, valued at approximately $23,960,981.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the transaction, the senior vice president now owns 12,236 shares in the company, valued at $1,426,472.88. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PRU shares. Morgan Stanley lifted their target price on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Piper Sandler lowered their target price on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday. Evercore ISI lifted their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods upped their price target on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $115.92.

Prudential Financial Stock Down 1.4 %

NYSE:PRU traded down $1.71 during mid-day trading on Friday, hitting $116.84. The stock had a trading volume of 919,680 shares, compared to its average volume of 1,467,991. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial, Inc. has a twelve month low of $87.59 and a twelve month high of $121.39. The company has a market capitalization of $41.95 billion, a PE ratio of 19.84, a PEG ratio of 0.89 and a beta of 1.34. The stock has a 50-day simple moving average of $116.90 and a two-hundred day simple moving average of $111.25.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. During the same quarter in the previous year, the firm posted $2.66 EPS. The business’s revenue for the quarter was up 69.9% on a year-over-year basis. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 13.41 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.45%. Prudential Financial’s dividend payout ratio is presently 88.44%.

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.