Brown Brothers Harriman & Co. Has $179,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Brown Brothers Harriman & Co. boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,506 shares of the financial services provider’s stock after acquiring an additional 98 shares during the period. Brown Brothers Harriman & Co.’s holdings in Prudential Financial were worth $179,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Grove Bank & Trust grew its stake in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the period. Centricity Wealth Management LLC bought a new position in Prudential Financial during the fourth quarter worth about $29,000. CGC Financial Services LLC grew its position in shares of Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after buying an additional 124 shares during the period. Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial in the 4th quarter valued at about $33,000. Finally, Quarry LP boosted its stake in Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 222 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Piper Sandler dropped their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley decreased their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Finally, Barclays boosted their price objective 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $126.15.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the stock in a transaction on Tuesday, March 25th. The shares were purchased at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the transaction, the insider now directly owns 139,987 shares in the company, valued at $3,992,429.24. This represents a 60.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Prudential Financial Stock Performance

Shares of PRU stock opened at $111.77 on Tuesday. The firm has a market cap of $40.01 billion, a PE ratio of 14.96, a P/E/G ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 12 month low of $104.45 and a 12 month high of $130.55. The company’s fifty day simple moving average is $112.95 and its 200-day simple moving average is $118.95. 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 (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 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%. Equities research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.83%. The ex-dividend date was Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is presently 72.29%.

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.