Bfsg LLC Grows Stake in Prudential Financial, Inc. (NYSE:PRU)

Bfsg LLC increased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 1.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,090 shares of the financial services provider’s stock after buying an additional 618 shares during the period. Bfsg LLC’s holdings in Prudential Financial were worth $4,159,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Kestra Investment Management LLC bought a new stake in shares of Prudential Financial during the 4th quarter valued at about $52,000. Venturi Wealth Management LLC lifted its position in Prudential Financial by 288.9% during the fourth quarter. Venturi Wealth Management LLC now owns 2,065 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 1,534 shares during the last quarter. D.A. Davidson & CO. grew its stake in Prudential Financial by 0.4% in the 4th quarter. D.A. Davidson & CO. now owns 97,591 shares of the financial services provider’s stock worth $11,568,000 after buying an additional 352 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Prudential Financial by 1.0% in the 4th quarter. Truist Financial Corp now owns 693,761 shares of the financial services provider’s stock worth $82,231,000 after buying an additional 7,105 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Prudential Financial by 4.3% during the 4th quarter. CIBC Asset Management Inc now owns 54,394 shares of the financial services provider’s stock worth $6,447,000 after acquiring an additional 2,226 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 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, for a total transaction of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PRU. Barclays raised their price target on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets assumed coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. Keefe, Bruyette & Woods lowered their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Finally, Piper Sandler reduced their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average target price of $125.46.

Prudential Financial Price Performance

Shares of PRU stock opened at $111.54 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.14 and a current ratio of 0.16. The firm has a market cap of $39.71 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.00 and a beta of 1.31. The business’s 50 day moving average price is $117.87 and its 200-day moving average price is $119.78. Prudential Financial, Inc. has a fifty-two week low of $104.44 and a fifty-two week high of $130.55.

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 net margin of 4.01% and a return on equity of 15.86%. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 14.38 earnings per share for the current year.

Prudential Financial Increases Dividend

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

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.