Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 5.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,103 shares of the financial services provider’s stock after acquiring an additional 464 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Prudential Financial were worth $1,102,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Creekmur Asset Management LLC grew its stake in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory purchased a new position in shares of Prudential Financial in the second quarter worth approximately $29,000. Strategic Financial Concepts LLC increased its position in shares of Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 25,027 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Prudential Financial in the first quarter worth approximately $33,000. Finally, ESL Trust Services LLC purchased a new position in shares of Prudential Financial in the first quarter worth approximately $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PRU has been the topic of several analyst reports. TD Cowen initiated coverage on shares of Prudential Financial in a research report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price on the stock. Morgan Stanley dropped their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Piper Sandler lifted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. UBS Group raised their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, Bank of America raised their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $123.69.

Prudential Financial Price Performance

NYSE PRU opened at $126.66 on Thursday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $45.22 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.94 and a beta of 1.30. The company has a 50 day moving average price of $120.88 and a two-hundred day moving average price of $118.13. Prudential Financial, Inc. has a 12-month low of $89.90 and a 12-month high of $128.52.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share 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 firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. As a group, equities analysts predict that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s payout ratio is 66.84%.

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.