Bray Capital Advisors Has $231,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Bray Capital Advisors lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 18.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,950 shares of the financial services provider’s stock after selling 439 shares during the quarter. Bray Capital Advisors’ holdings in Prudential Financial were worth $231,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Handelsbanken Fonder AB boosted its holdings in shares of Prudential Financial by 9.9% in the 4th quarter. Handelsbanken Fonder AB now owns 65,750 shares of the financial services provider’s stock valued at $7,793,000 after purchasing an additional 5,947 shares in the last quarter. LMG Wealth Partners LLC lifted its stake in shares of Prudential Financial by 1.5% in the 4th quarter. LMG Wealth Partners LLC now owns 72,024 shares of the financial services provider’s stock valued at $8,537,000 after acquiring an additional 1,081 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its stake in shares of Prudential Financial by 828.7% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 53,743 shares of the financial services provider’s stock valued at $6,370,000 after acquiring an additional 47,956 shares during the last quarter. Convergence Investment Partners LLC lifted its stake in shares of Prudential Financial by 31.5% in the 4th quarter. Convergence Investment Partners LLC now owns 14,175 shares of the financial services provider’s stock valued at $1,680,000 after acquiring an additional 3,396 shares during the last quarter. Finally, Bank of Jackson Hole Trust bought a new position in shares of Prudential Financial in the 4th quarter valued at $413,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $111.08 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $117.10 and a two-hundred day moving average price of $119.59. Prudential Financial, Inc. has a 1-year low of $104.44 and a 1-year high of $130.55. The company has a market cap of $39.77 billion, a P/E ratio of 14.87, a PEG ratio of 0.99 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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%. As a group, analysts anticipate that Prudential Financial, Inc. will post 14.34 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be issued 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 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research reports. Wells Fargo & Company increased their price target on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday. BMO Capital Markets initiated coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. TD Cowen increased their price target on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Piper Sandler dropped their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lowered 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. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $125.69.

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.