Prudential Financial, Inc. (NYSE:PRU) EVP Caroline Feeney Purchases 111 Shares

Prudential Financial, Inc. (NYSE:PRU) EVP Caroline Feeney bought 111 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $120.31 per share, with a total value of $13,354.41. Following the transaction, the executive vice president now directly owns 10,540 shares in the company, valued at approximately $1,268,067.40. The trade was a 1.06 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Prudential Financial Stock Down 0.4 %

PRU opened at $110.35 on Friday. The stock’s fifty day moving average is $113.57 and its 200-day moving average is $119.04. Prudential Financial, Inc. has a one year low of $104.45 and a one year high of $130.55. The company has a market capitalization of $39.51 billion, a PE ratio of 14.77, 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 quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.89%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is currently 72.29%.

Analysts Set New Price Targets

Several brokerages have issued reports on PRU. Wells Fargo & Company upped their price objective on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. TD Cowen boosted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Morgan Stanley reduced their price target on shares of 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. Barclays boosted their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, BMO Capital Markets assumed coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $126.15.

Institutional Investors Weigh In On Prudential Financial

Several large investors have recently modified their holdings of the stock. Glenmede Trust Co. NA lifted its holdings in shares of Prudential Financial by 7.4% during the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 1,234 shares during the last quarter. Avanza Fonder AB acquired a new stake in Prudential Financial during the 4th quarter worth about $3,423,000. Gateway Investment Advisers LLC lifted its stake in Prudential Financial by 56.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after buying an additional 7,907 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after acquiring an additional 15,695 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Prudential Financial by 2.3% during the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after acquiring an additional 1,765 shares during the period. 56.83% of the stock is owned by institutional investors.

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.