Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Zacks Investment Management

Zacks Investment Management raised its holdings in Prudential Financial, Inc. (NYSE:PRU) by 10.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 921,726 shares of the financial services provider’s stock after purchasing an additional 86,604 shares during the period. Prudential Financial comprises 1.0% of Zacks Investment Management’s holdings, making the stock its 25th largest position. Zacks Investment Management owned about 0.26% of Prudential Financial worth $111,621,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial in the third quarter valued at approximately $31,000. Quarry LP boosted its stake in shares of Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 222 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Prudential Financial in the second quarter worth approximately $38,000. Tompkins Financial Corp boosted its stake in shares of Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 140 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in shares of Prudential Financial by 235.4% in the third quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 266 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PRU. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Morgan Stanley lowered their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Bank of America lifted their price objective on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. TD Cowen lifted their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Finally, UBS Group lifted their price objective on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $125.92.

Prudential Financial Price Performance

NYSE:PRU opened at $126.56 on Friday. Prudential Financial, Inc. has a 52 week low of $98.24 and a 52 week high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $45.06 billion, a P/E ratio of 11.25, a P/E/G ratio of 0.90 and a beta of 1.29. The stock’s fifty day moving average is $124.80 and its two-hundred day moving average is $120.31.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the business earned $3.44 earnings per share. Equities analysts expect that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.11%. Prudential Financial’s dividend payout ratio is presently 46.22%.

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.