Prudential Financial, Inc. (NYSE:PRU) Major Shareholder Insurance Co Of Ame Prudential Acquires 52,595 Shares

Prudential Financial, Inc. (NYSE:PRU) major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was bought at an average cost of $28.52 per share, with a total value of $1,500,009.40. Following the transaction, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. The trade was a 60.18 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares 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 acquired 87,047 shares of Prudential Financial stock. The shares were purchased at an average price of $28.72 per share, for a total transaction of $2,499,989.84.

Prudential Financial Trading Down 0.9 %

Prudential Financial stock opened at $114.50 on Friday. Prudential Financial, Inc. has a 12-month low of $104.45 and a 12-month high of $130.55. The stock has a market capitalization of $40.99 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The firm has a 50 day simple moving average of $113.27 and a 200-day simple moving average of $118.95. 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 (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) 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%. As a group, equities research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm 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. This represents a $5.40 dividend on an annualized basis and a yield of 4.72%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 72.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lowered their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Keefe, Bruyette & Woods lowered their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. Barclays increased their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Piper Sandler decreased their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average target price of $126.15.

Hedge Funds Weigh In On Prudential Financial

Several hedge funds have recently made changes to their positions in the business. Grove Bank & Trust grew its position in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Prudential Financial in the 4th quarter worth $29,000. CGC Financial Services LLC raised its position in shares of 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 purchasing an additional 124 shares during the period. Wingate Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial during the fourth quarter valued at $33,000. Finally, Quarry LP increased its stake in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

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.