Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC boosted its position in Prudential Financial, Inc. (NYSE:PRU) by 45.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,914 shares of the financial services provider’s stock after purchasing an additional 912 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Prudential Financial were worth $353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Annex Advisory Services LLC raised its position in shares of Prudential Financial by 3.4% in the second quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after buying an additional 81 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Prudential Financial by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock worth $951,000 after purchasing an additional 87 shares during the last quarter. Peoples Bank OH raised its position in Prudential Financial by 2.3% in the first quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 90 shares during the period. Quotient Wealth Partners LLC increased its stake in Prudential Financial by 3.9% during the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 92 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Prudential Financial by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Down 0.3 %

Shares of Prudential Financial stock opened at $127.40 on Friday. The company has a market cap of $45.74 billion, a P/E ratio of 21.67, a PEG ratio of 0.98 and a beta of 1.30. The firm has a fifty day moving average of $118.85 and a two-hundred day moving average of $117.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52.

Prudential Financial (NYSE:PRU) last issued its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. On average, analysts forecast that Prudential Financial, Inc. will post 13.29 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.08%. Prudential Financial’s payout ratio is currently 88.44%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PRU shares. Argus raised Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays assumed coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 target price on the stock. Piper Sandler lifted their target price on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their target price on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Bank of America boosted their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $123.69.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

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.