Buck Wealth Strategies LLC Raises Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Buck Wealth Strategies LLC raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 70.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,521 shares of the financial services provider’s stock after purchasing an additional 2,699 shares during the quarter. Buck Wealth Strategies LLC’s holdings in Prudential Financial were worth $773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in PRU. Grove Bank & Trust raised its position in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after acquiring an additional 89 shares during the last quarter. Asset Dedication LLC boosted its stake in shares of Prudential Financial by 28.4% in the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 93 shares in the last quarter. Daymark Wealth Partners LLC lifted its stake in Prudential Financial by 3.9% in the third quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 97 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Prudential Financial by 2.7% in the third quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock worth $443,000 after buying an additional 97 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PRU shares. TD Cowen raised their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Jefferies Financial Group lifted their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price objective for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Barclays lifted their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, BMO Capital Markets started coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $125.77.

Prudential Financial Trading Down 3.4 %

Shares of PRU stock opened at $113.90 on Thursday. The firm’s 50 day moving average is $120.07 and its 200 day moving average is $120.42. The stock has a market capitalization of $40.55 billion, a P/E ratio of 10.12, a P/E/G ratio of 1.12 and a beta of 1.31. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12-month low of $102.67 and a 12-month high of $130.55.

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 net margin of 6.03% and a return on equity of 15.30%. Research analysts expect that Prudential Financial, Inc. will post 13.24 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently announced 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 a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is currently 46.22%.

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.