Prudential Financial, Inc. (NYSE:PRU) EVP Acquires $14,578.29 in Stock

Prudential Financial, Inc. (NYSE:PRU) EVP Caroline Feeney bought 129 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average price of $113.01 per share, for a total transaction of $14,578.29. Following the completion of the transaction, the executive vice president now owns 10,429 shares in the company, valued at $1,178,581.29. This trade represents a 1.25 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Prudential Financial Trading Down 0.4 %

Shares of NYSE PRU opened at $110.35 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 12 month low of $104.45 and a 12 month high of $130.55. The company has a market cap of $39.51 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 0.98 and a beta of 1.28. The business has a fifty day simple moving average of $113.57 and a 200-day simple moving average of $119.04.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Sell-side analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s payout ratio is 72.29%.

Institutional Trading of Prudential Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Empowered Funds LLC boosted its position in Prudential Financial by 8.2% during the 3rd quarter. Empowered Funds LLC now owns 11,404 shares of the financial services provider’s stock worth $1,381,000 after acquiring an additional 861 shares during the period. Caprock Group LLC grew its position in Prudential Financial by 5.2% during the third quarter. Caprock Group LLC now owns 9,679 shares of the financial services provider’s stock valued at $1,172,000 after purchasing an additional 479 shares in the last quarter. Prospera Financial Services Inc increased its stake in Prudential Financial by 3.9% in the 3rd quarter. Prospera Financial Services Inc now owns 8,466 shares of the financial services provider’s stock valued at $1,026,000 after buying an additional 318 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in Prudential Financial by 69.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 6,252 shares of the financial services provider’s stock worth $757,000 after buying an additional 2,567 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Prudential Financial during the 3rd quarter valued at $2,876,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. BMO Capital Markets began coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. Piper Sandler lowered their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Keefe, Bruyette & Woods cut their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Finally, TD Cowen lifted their price target on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $126.15.

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.