Fiduciary Trust Co Takes Position in Prudential Financial, Inc. (NYSE:PRU)

Fiduciary Trust Co purchased a new position in Prudential Financial, Inc. (NYSE:PRU) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,079 shares of the financial services provider’s stock, valued at approximately $252,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC lifted its position in 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 worth $157,219,000 after buying an additional 1,267,571 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Prudential Financial by 97.4% in the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after purchasing an additional 357,300 shares in the last quarter. FMR LLC grew its holdings in shares of Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after purchasing an additional 344,254 shares during the last quarter. Legal & General Group Plc raised its position in Prudential Financial by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after purchasing an additional 305,143 shares during the period. Finally, Capital Advisors Inc. OK bought a new stake in Prudential Financial in the third quarter worth $30,226,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm’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 owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Prudential Financial Trading Down 0.1 %

Prudential Financial stock opened at $129.41 on Monday. Prudential Financial, Inc. has a one year low of $96.45 and a one year high of $130.55. The business’s fifty day moving average is $124.24 and its 200 day moving average is $120.12. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $46.07 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 0.93 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the previous year, the business posted $3.44 earnings per share. On average, sell-side analysts predict that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.02%. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

Analyst Ratings Changes

PRU has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. TD Cowen raised their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. UBS Group upped their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, Barclays raised their price target on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $125.92.

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.