Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,555 shares of the financial services provider’s stock after purchasing an additional 102 shares during the period. Verdence Capital Advisors LLC’s holdings in Prudential Financial were worth $309,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Creekmur Asset Management LLC raised its stake in Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial during the second quarter worth $29,000. Strategic Financial Concepts LLC grew its position in Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after buying an additional 25,027 shares during the last quarter. Crewe Advisors LLC acquired a new position in Prudential Financial in the 1st quarter valued at $33,000. Finally, ESL Trust Services LLC purchased a new position in Prudential Financial during the 1st quarter worth $34,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PRU shares. UBS Group boosted their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Piper Sandler increased their target price on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. TD Cowen started coverage on Prudential Financial in a research note on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price target on the stock. Argus upgraded Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company boosted their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $123.85.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $125.49 on Wednesday. Prudential Financial, Inc. has a one year low of $91.07 and a one year high of $129.13. The stock has a market cap of $44.67 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 0.87 and a beta of 1.29. The business’s fifty day moving average price is $121.55 and its two-hundred day moving average price is $118.91. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter last year, the business posted $3.44 EPS. On average, analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.14%. Prudential Financial’s payout ratio is currently 46.22%.

Insiders Place Their Bets

In other news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction dated Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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.