Donoghue Forlines LLC Invests $1.53 Million in Prudential Financial, Inc. (NYSE:PRU)

Donoghue Forlines LLC acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,897 shares of the financial services provider’s stock, valued at approximately $1,529,000.

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust boosted its position in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Prudential Financial during the third quarter worth about $31,000. Quarry LP grew its position in shares of Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Prudential Financial during the 4th quarter worth approximately $37,000. Finally, Tompkins Financial Corp increased its position in Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. 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 research report on Wednesday, November 27th. Bank of America boosted their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Piper Sandler decreased their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $125.31.

Prudential Financial Trading Up 0.1 %

Shares of PRU stock opened at $117.44 on Thursday. Prudential Financial, Inc. has a fifty-two week low of $100.60 and a fifty-two week high of $130.55. The firm’s 50 day moving average price is $121.68 and its two-hundred day moving average price is $120.69. The stock has a market cap of $41.81 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.31. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share 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 firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the prior year, the company earned $3.44 EPS. On average, analysts anticipate that Prudential Financial, Inc. will post 13.26 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

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.