Heritage Trust Co Buys Shares of 5,153 Prudential Financial, Inc. (NYSE:PRU)

Heritage Trust Co purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the 4th quarter, Holdings Channel reports. The firm purchased 5,153 shares of the financial services provider’s stock, valued at approximately $611,000.

A number of other institutional investors have also made changes to their positions in the business. Grove Bank & Trust increased its stake in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $29,000. CGC Financial Services LLC raised its holdings in Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new position in Prudential Financial during the fourth quarter valued at approximately $33,000. Finally, Hopwood Financial Services Inc. acquired a new position in shares of Prudential Financial during the 4th quarter worth approximately $34,000. Institutional investors own 56.83% of the company’s stock.

Insider Activity

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays decreased their target price on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday. Wells Fargo & Company decreased their price objective on shares of Prudential Financial from $118.00 to $108.00 and set an “equal weight” rating for the company in a research report on Thursday. Keefe, Bruyette & Woods cut their target price on shares of Prudential Financial from $125.00 to $120.00 and set a “market perform” rating for the company in a research note on Wednesday. Morgan Stanley lowered their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. cut their price objective on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.77.

Prudential Financial Stock Performance

NYSE:PRU opened at $98.70 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 stock has a 50 day simple moving average of $108.98 and a 200 day simple moving average of $117.58. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The stock has a market cap of $34.98 billion, a P/E ratio of 13.21, a PEG ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU) last announced 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 net margin of 4.01% and a return on equity of 15.86%. Research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 5.47%. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

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.