Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by PSI Advisors LLC

PSI Advisors LLC boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 37.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 592 shares of the financial services provider’s stock after purchasing an additional 160 shares during the quarter. PSI Advisors LLC’s holdings in Prudential Financial were worth $70,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Glenmede Trust Co. NA lifted its holdings in shares of Prudential Financial by 7.4% during the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after purchasing an additional 1,234 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Prudential Financial by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after acquiring an additional 15,695 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Prudential Financial by 2.3% in the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after acquiring an additional 1,765 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Prudential Financial by 4.3% during the third quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock worth $19,701,000 after purchasing an additional 6,641 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in Prudential Financial by 18.7% in the third quarter. HighTower Advisors LLC now owns 69,542 shares of the financial services provider’s stock valued at $8,395,000 after purchasing an additional 10,964 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction dated 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 acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PRU. TD Cowen boosted their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Bank of America raised their target price on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group upped their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Finally, Wells Fargo & Company lowered their target price on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Eleven 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $127.00.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $117.66 on Wednesday. Prudential Financial, Inc. has a one year low of $100.60 and a one year high of $130.55. The stock has a market cap of $41.89 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31. The business’s fifty day moving average price is $122.38 and its two-hundred day moving average price is $120.67. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data 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 analysts’ expectations 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 last year, the business posted $3.44 EPS. On average, analysts forecast that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.42%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

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.