Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Valley National Advisers Inc.

Valley National Advisers Inc. grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 69.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 997 shares of the financial services provider’s stock after acquiring an additional 409 shares during the period. Valley National Advisers Inc.’s holdings in Prudential Financial were worth $118,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in PRU. Grove Bank & Trust boosted its stake in shares of Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the period. Ashton Thomas Securities LLC purchased a new position in Prudential Financial in the third quarter valued at $31,000. Quarry LP lifted its stake in Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Prudential Financial in the 4th quarter valued at $37,000. Finally, Tompkins Financial Corp boosted its stake in Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 140 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Price Performance

PRU opened at $120.52 on Monday. The company has a market capitalization of $42.91 billion, a P/E ratio of 10.71, a PEG ratio of 1.12 and a beta of 1.31. Prudential Financial, Inc. has a 1-year low of $100.60 and a 1-year high of $130.55. The company has a 50-day moving average of $120.80 and a 200-day moving average of $120.60. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.31%. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays boosted their price target on Prudential Financial from $127.00 to $128.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Wells Fargo & Company reduced their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. TD Cowen increased their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Piper Sandler reduced their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price objective for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $125.31.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by insiders.

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.