Graypoint LLC Has $832,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

Graypoint LLC lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,020 shares of the financial services provider’s stock after buying an additional 98 shares during the quarter. Graypoint LLC’s holdings in Prudential Financial were worth $832,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in Prudential Financial in the second quarter worth $65,000. Daiwa Securities Group Inc. grew its holdings in Prudential Financial by 9.6% in the second quarter. Daiwa Securities Group Inc. now owns 39,511 shares of the financial services provider’s stock worth $4,630,000 after purchasing an additional 3,454 shares during the period. LPL Financial LLC grew its holdings in Prudential Financial by 2.7% in the second quarter. LPL Financial LLC now owns 486,064 shares of the financial services provider’s stock worth $56,962,000 after purchasing an additional 12,718 shares during the period. American Century Companies Inc. grew its holdings in Prudential Financial by 1.7% in the second quarter. American Century Companies Inc. now owns 574,756 shares of the financial services provider’s stock worth $67,356,000 after purchasing an additional 9,735 shares during the period. Finally, Y.D. More Investments Ltd acquired a new stake in Prudential Financial in the second quarter worth $145,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PRU. Barclays raised their price objective on shares of Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Wells Fargo & Company raised their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Piper Sandler raised their price objective 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. TD Cowen raised their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $127.17.

Prudential Financial Stock Performance

NYSE PRU opened at $114.41 on Friday. Prudential Financial, Inc. has a 52-week low of $100.60 and a 52-week high of $130.55. The company has a 50-day simple moving average of $122.52 and a 200 day simple moving average of $120.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market capitalization of $40.73 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) 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 business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter last year, the company posted $3.44 earnings per share. On average, research analysts predict that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.55%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.