Prudential Financial, Inc. (NYSE:PRU) Major Shareholder Buys $1,500,009.40 in Stock

Prudential Financial, Inc. (NYSE:PRU) major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the acquisition, the insider now directly owns 139,987 shares in the company, valued at $3,992,429.24. This represents a 60.18 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Insurance Co Of Ame Prudential also recently made the following trade(s):

• On Wednesday, March 12th, Insurance Co Of Ame Prudential purchased 87,047 shares of Prudential Financial stock. The stock was acquired at an average price of $28.72 per share, for a total transaction of $2,499,989.84.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $109.94 on Friday. The business has a 50-day moving average of $113.09 and a two-hundred day moving average of $118.95. The firm has a market capitalization of $39.36 billion, a PE ratio of 14.72, a P/E/G ratio of 0.98 and a beta of 1.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 12 month low of $104.45 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) 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, research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.91%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s dividend payout ratio is 72.29%.

Analysts Set New Price Targets

PRU has been the topic of a number of analyst reports. 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. 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. Wells Fargo & Company upped their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Piper Sandler cut their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Barclays raised their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $126.15.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC raised its holdings in shares of Prudential Financial by 3.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 7,012 shares of the financial services provider’s stock valued at $849,000 after buying an additional 237 shares during the period. Larson Financial Group LLC raised its stake in shares of Prudential Financial by 18.0% during the third quarter. Larson Financial Group LLC now owns 715 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 109 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Prudential Financial by 11.7% in the third quarter. Daiwa Securities Group Inc. now owns 44,143 shares of the financial services provider’s stock valued at $5,346,000 after purchasing an additional 4,632 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Prudential Financial during the 3rd quarter valued at $283,000. Finally, Brown Brothers Harriman & Co. increased its stake in Prudential Financial by 16.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,408 shares of the financial services provider’s stock worth $171,000 after buying an additional 196 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

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.