Clarity Financial LLC Acquires 300 Shares of Prudential Financial, Inc. (NYSE:PRU)

Clarity Financial LLC grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 6.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,992 shares of the financial services provider’s stock after buying an additional 300 shares during the quarter. Clarity Financial LLC’s holdings in Prudential Financial were worth $605,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Annex Advisory Services LLC raised its holdings in shares of Prudential Financial by 3.4% in the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 81 shares during the period. Raymond James Trust N.A. raised its holdings in shares of Prudential Financial by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock valued at $951,000 after purchasing an additional 87 shares during the period. Quotient Wealth Partners LLC raised its holdings in shares of Prudential Financial by 3.9% in the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 92 shares during the period. Jaffetilchin Investment Partners LLC raised its holdings in shares of Prudential Financial by 4.6% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,131 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 94 shares during the period. Finally, Daymark Wealth Partners LLC raised its holdings in shares of Prudential Financial by 3.9% in the 3rd quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 97 shares during the period. 56.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PRU. Bank of America upped their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Morgan Stanley decreased their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company upped their price target on shares of Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Piper Sandler upped their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $123.77.

Insider Activity at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $120.66 on Tuesday. The company has a 50 day moving average of $121.16 and a 200-day moving average of $118.49. Prudential Financial, Inc. has a 1-year low of $89.90 and a 1-year high of $128.52. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a market cap of $42.95 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 0.86 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The company had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the firm posted $3.44 EPS. As a group, equities research analysts forecast that Prudential Financial, Inc. will post 13.32 earnings per share for the current fiscal year.

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.