2,003 Shares in Prudential Financial, Inc. (NYSE:PRU) Bought by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC bought a new position in Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,003 shares of the financial services provider’s stock, valued at approximately $237,000.

A number of other hedge funds also recently bought and sold shares of the company. Glenmede Trust Co. NA increased its position in Prudential Financial by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after buying an additional 1,234 shares during the period. Avanza Fonder AB acquired a new position in Prudential Financial in the 4th quarter valued at approximately $3,423,000. Gateway Investment Advisers LLC lifted its position in shares of Prudential Financial by 56.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after acquiring an additional 7,907 shares during the period. Principal Financial Group Inc. increased its position in shares of Prudential Financial by 3.9% during the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after purchasing an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC raised its stake 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 purchasing an additional 1,765 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PRU shares. Wells Fargo & Company dropped their price objective on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Piper Sandler dropped their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. BMO Capital Markets started coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. TD Cowen raised their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, Jefferies Financial Group boosted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $125.77.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $111.68 on Wednesday. The stock has a market cap of $39.76 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.14 and a current ratio of 0.16. Prudential Financial, Inc. has a fifty-two week low of $104.02 and a fifty-two week high of $130.55. The firm’s 50-day simple moving average is $119.08 and its 200 day simple moving average is $120.16.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, research analysts anticipate that Prudential Financial, Inc. will post 14.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is 69.61%.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

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.