Constitution Capital LLC Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Constitution Capital LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,400 shares of the financial services provider’s stock, valued at approximately $284,000.

Other large investors have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management grew its holdings in Prudential Financial by 4.1% during the fourth quarter. Ritholtz Wealth Management now owns 9,089 shares of the financial services provider’s stock worth $1,077,000 after acquiring an additional 360 shares during the period. Gateway Investment Advisers LLC grew its stake in shares of Prudential Financial by 56.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after purchasing an additional 7,907 shares during the period. Redhawk Wealth Advisors Inc. increased its holdings in shares of Prudential Financial by 15.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 10,741 shares of the financial services provider’s stock valued at $1,273,000 after purchasing an additional 1,420 shares in the last quarter. Armstrong Advisory Group Inc. boosted its holdings in Prudential Financial by 9.3% during the fourth quarter. Armstrong Advisory Group Inc. now owns 1,968 shares of the financial services provider’s stock worth $233,000 after buying an additional 167 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp grew its position in Prudential Financial by 4.1% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 81,812 shares of the financial services provider’s stock worth $9,697,000 after buying an additional 3,201 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Down 1.3 %

Shares of Prudential Financial stock opened at $118.47 on Friday. Prudential Financial, Inc. has a fifty-two week low of $100.60 and a fifty-two 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 business’s fifty day moving average is $122.23 and its two-hundred day moving average is $120.66. The firm has a market cap of $42.17 billion, a PE ratio of 10.53, a P/E/G ratio of 0.75 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period last year, the company posted $3.44 EPS. Analysts anticipate that Prudential Financial, Inc. will post 13.34 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s payout ratio is currently 46.22%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PRU shares. Barclays boosted their price target on Prudential Financial from $119.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. 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. Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday. Bank of America boosted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their target price for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $127.42.

Prudential Financial 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.