1,990 Shares in Prudential Financial, Inc. (NYSE:PRU) Purchased by PDS Planning Inc

PDS Planning Inc acquired a new position in Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 1,990 shares of the financial services provider’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also made changes to their positions in PRU. Cambridge Trust Co. raised its stake in Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in Prudential Financial in the 4th quarter valued at about $26,000. Headinvest LLC acquired a new position in shares of Prudential Financial during the 3rd quarter valued at about $27,000. Arlington Trust Co LLC increased its stake in shares of Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 185 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of Prudential Financial during the 3rd quarter valued at about $38,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Up 0.5 %

NYSE PRU opened at $112.05 on Wednesday. The stock has a market cap of $40.23 billion, a PE ratio of 16.75, a P/E/G ratio of 0.76 and a beta of 1.37. Prudential Financial, Inc. has a fifty-two week low of $77.22 and a fifty-two week high of $118.69. The business has a 50 day moving average price of $111.52 and a two-hundred day moving average price of $103.50. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). The company had revenue of $13.02 billion during the quarter, compared to analysts’ expectations of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.42 EPS. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 13.38 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend was Friday, February 16th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio is currently 77.73%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PRU shares. Morgan Stanley upped their price objective on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $118.00 price objective (down previously from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Finally, Piper Sandler boosted their target price on Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $111.33.

Insiders Place Their Bets

In other news, SVP Robert Axel sold 6,436 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the transaction, the senior vice president now directly owns 7,901 shares in the company, valued at approximately $883,805.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Robert Axel sold 6,436 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the transaction, the senior vice president now directly owns 7,901 shares in the company, valued at approximately $883,805.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Timothy L. Schmidt sold 7,912 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the transaction, the senior vice president now owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock worth $3,215,664 in the last 90 days. 0.34% of the stock is owned by company insiders.

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.